KPMG - Manager - Actuarial (7-12 yrs)
Manager - Actuarial (GI Industry)
Primary Responsibilities :
Actuarial Audits :
- Audit of the client's reserves and systems for true and fair view across Motor, Health, Property and Casualty, Personal and Accident, Health and other lines of business.
- Adherence to Reporting standards (IFRS, IGAAP, USGAAP)
- Review of Assumptions, methodology, controls and results
- Review reserving methodology (e.g. IBNR, PDR, UPR, URR, etc.)
- Understanding client's business model, identifying sources of liability, performing data validation, developing run off triangles and claims pattern, calculating IBNR reserves.
Model Development and Validation:
- Validating, creating and/or updating models based on new data/ events (e.g. catastrophe modelling, credit rating model, Risk Models)
Pricing & Product filing : Working knowledge of GLM, rate monitoring, product filing and Health insurance pricing.
Risk Management : Develop internal models and ERM framework; Own, Risk, and Solvency Assessment (ORSA) reports.
Reinsurance : Reviewing reinsurance agreements, monitor experience with reinsurance, reinsurance structure and structuring solutions.
Other related responsibilities :
- Assist client with understanding and implementing the new regulations e.g. IFRS 17, etc.
- Provide assistance with actuarial system transformation
Essential Requirements :
Education / professional qualifications :
- Graduate/Post graduate with a strong background in mathematics or statistics. Member of Institute of Actuaries (UK) and/or Institute of Actuaries of India and must of passed at least 10 actuarial exams from either of these institutes including CS2, SP7/SP8.
Prior Experience :
- 7-9+ years of Non-life actuarial experience with knowledge in reporting - reserving, business planning, pricing etc. Understanding of IFRS 17 preferred. Knowledge of stochastic modelling and proxy modelling is a plus.
Technical Skills :
- Knowledge of insurance business and actuarial techniques specifically in any of the reporting areas. Familiarity with spreadsheets, databases, statistical analysis programs. Working knowledge of Emblem, RESQ, SAS, R, Python is a plus.
Soft Skills :
- Good communication and strong interpersonal skills and ability to interact with clients.