Job Description:

We are seeking a Senior Actuarial Analyst with experience in General Insurance to support Ind AS 117 financial reporting, actuarial reserving, and claims analytics. The ideal candidate will have strong expertise in actuarial valuations, reserve analysis, financial reporting, and claims triangle analysis. You will work closely with actuarial teams, finance, and business stakeholders to ensure accurate reserving, regulatory compliance, and high-quality financial reporting.

Key Responsibilities:

1. Ind AS 117 Financial Reporting:

- Review and validate actuarial outputs used in Ind AS 117 financial statements.

- Ensure accurate calculation and reporting of:

1. Liability for Remaining Coverage (LRC)

2. Liability for Incurred Claims (LIC)

3. Risk Adjustment (RA)

4. Loss Components

5. Contractual Service Margin (CSM), where applicable

6. Acquisition Cash Flows

- Coordinate with internal actuarial teams and external actuarial consultants for quarterly and annual reporting.

- Review journal entries, reconciliations, and accounting impacts arising from actuarial valuations.

- Support the preparation of Ind AS 117 disclosures, management reports, and regulatory submissions.

- Ensure consistency between actuarial valuation outputs and general ledger balances.

2. Actuarial Reserving:

- Review actuarial reserving methodologies, models, and assumptions.

- Analyze outstanding claim reserves, IBNR (Incurred But Not Reported) and IBNER (Incurred But Not Enough Reported) reserves.

- Assess reserve adequacy and monitor reserve risk indicators.

- Analyze reserve movements and explain period-over-period changes.

- Challenge actuarial assumptions where appropriate and recommend improvements.

- Support reserve governance and reporting activities.

3. Claims Triangle Analysis:

- Review and validate:

1. Paid Claims Triangles

2. Incurred Claims Triangles

3. Reported Claims Triangles

4. Ultimate Loss Triangles

- Analyze development factors and claims emergence patterns.

- Evaluate reserve development trends across multiple lines of business.

- Perform variance analysis on claims development assumptions.

- Monitor claims experience against historical trends.

- Prepare analytical reports and management insights based on claims triangle analysis.

Required Skills:

- Strong understanding of Ind AS 117 financial reporting requirements.

- Experience in actuarial reserving within the General Insurance industry.

- Knowledge of IBNR, IBNER, reserve adequacy analysis, and actuarial valuation techniques.

- Strong understanding of claims reserving methodologies and claims triangle analysis.

- Knowledge of actuarial modeling techniques and financial reporting principles.

- Proficiency in Microsoft Excel and data analysis.

- Strong analytical, problem-solving, and quantitative skills.

- Excellent communication and stakeholder management abilities.