The purpose of this role is to support the Senior EVP for Life Insurance business with select responsibility on actuarial side on the general insurance business on

1) Product and Profitability

2) Actuarial and Reserving

3) Technical Risk Management

4) Underwriting. Furthermore, this role would need to investigate life insurance capital optimization solutions globally and best practices around reserving management .

PRINCIPAL ACCOUNTABILITIES:

Support the Senior EVP Insurance Products and Actuarial for the Life insurance business (including selected responsibility in respect of actuarial work w.r.t. general insurance business) with

1) Products and Profitability:

a. Evaluating the current product strategy, pricing strategy + process, and product performance methodology

b. Develop/review the framework for product management from launch to closure with technical documentation including profitability projection/management and breakeven analysis

2) Risk and Actuarial

a. Reviewing and updating reserving methodologies in line with best practice

b. Monitoring of reserve booking and management, assumption setting, and true-up process

c. Research global reserving best practices w.r.t. assumption setting, credibility factors, and governance around assumption management

d. Review the technical risk management framework and processes including risk appetite framework

e. Deep dive on the risk capital framework with long term returns and conversation of return on capital with return on equity

3) Underwriting

a. Evaluate the current underwriting framework

b. Creating multi-product pricing and underwriting frameworks including rider attachments

c. Detailed analysis of reinsurance treaties and process around obtaining new treaties, as well as accounting and operations of reinsurance management

4) Capital solutions

a. Identify drivers for Product/Fund capital consumption. Benchmark capital consumption with peers in Indian market. Work with BALIC on potential levers to reach market leading return on capital

b. Research innovative global capital optimization solutions and prepare proposals of applicable/permissible solutions within the Indian regulatory framework

- President Insurance and Special Projects

- General & Health Insurance

- Life Insurance

- TBD

- SEVP Insurance Products and Actuarial

Educational Qualifications:

- Minimum Bachelors of Commerce - On the path to becoming a qualified insurance actuary with most exams completed - Additional qualifications in accounting and/or management is a plus

Functional Skills & Behavioral Skills:

Relevant and total years of Experience:

- 8+ years of Experience - Life Insurance Industry experience mandatory - Life insurance capital management experience preferred - General insurance actuarial experience a plus