Summary of Role / Profile:  Focus of the Function:  - The Actuarial Modeling Initiative is tasked to produce a tool which projects income statements and balance sheets for client’s Life & Retirement business on various accounting bases, including projections of principles-based reserves and capital and forward market-consistent valuations of liabilities.   - Develop further the Life actuarial capability - people, tools, and processes.   Why does this job exist:  To service client and lead their actuarial modeling and data management group  How does the role add value:  - Operations leader for client’s India actuarial modeling unit   - Demonstrable depth in Actuarial domain - helping win new stakeholders and thus projects, coach and mentor existing teams to move along the service value chain, provide consulting depth to customers in the Actuarial space.   How is this role unique from others:  - There are multiple regulatory changes and increased competition impacting the existing US Life Insurance industry. And implications of these changes is making key actuarial staff focus on product changes and finding additional capacity to streamline reporting requirements. We need business and technical representative who are completely familiar with the local US regulations and products.   - It is not possible to source resources due to lack of experience and knowledge of US industry and products. The combination of insurance industry breadth, depth in actuarial domain and geographic coverage make this a very specific role   - Ability to seamlessly blend consulting (consultative skills, good project management) and operational (practice know-how on industry actuarial processes, analytical) skills and be accountable for the results   Who are the key relationships for this role:  - There will be multiple regional and global engagements - It will have a direct relationship with Client’s India Actuarial Leader as well as organisation’s Insurance Actuarial Operations leader. They will also interact with Insurance Industry Domain specialists globally at client side which will include Chief Actuaries, senior leaders at client side. Apart from this, will need constant interaction with Practice teams  What are the minimum prior qualifications to be an applicant for this role:  - Preferred Associate / Fellow Actuary else good actuarial exam progress  - Min 10 years of experience in Life Insurance Industry managing teams  - Understands concepts of US Statutory and GAAP reserve methodologies and Market consistent valuation.  - Has managed projects independently and run operations for global insurance companies  What are the key initiatives & challenges facing this role in the next six months to three years:  - Ensure smooth transition, set up and implement training practices   - Engage in direct client communications and meetings   - Lead projects in various actuarial modeling platforms across for valuation, reserving, projections and lead model build initiatives   - Present and project the company in the industry   - Maintain professional knowledge & position   Specific competences ( Essential):  - Experience with the US Life & Retirement Insurance space is required   - Thorough knowledge and prior experience in the following areas – Financial Reporting on various accounting bases, including projections of principles-based reserves and capital and forward market-consistent valuations of liabilities.   - Understand actuarial spectrum of services and solutions   - Excellent communication - verbal and written with strong Presentation skills   - Ability to engage & influence senior client stakeholders   - Strong business acumen and understanding of insurance markets/products   - Strong interpersonal and relationship skills including experience in managing multiple people and projects and producing quality deliverables on time and within budget   Specific competences (Desirable):  - Judgement   - Personal effectiveness   - Cross cultural work experience - US & India   Key Roles and Responsibilities:  In summary: opportunity to help the company build its operational and consulting capabilities to strengthen its insurance practice  - Client Relationship Management   - Strong Domain of Actuarial Modeling   - Familiarity with US Statutory and GAAP reserve methodologies   - Service Delivery and People Leadership   The detailed job responsibilities are as follows:   Design, coding and maintenance of actuarial models to support this initiative, including:  - development of detailed model design specifications  - implementation of model functionality   - implementation of liability products and assumptions in the modeling system, including development of automation processes to optimize population of data in the system, and designing products in line with specifications   - execution of models on base unit test cases, ensuring that models run to completion and produce expected results   - Resolution of any issues discovered in the course of model validation   Validation of actuarial models, including:  - development test plans for validation of model functionality   - creation/modification of benchmark testing tools;   - execution of test plan, including researching the source of any defects, logging these issues in the defect tracking system, and log issues   - documentation of testing and results, including actions taken upon uncovering model defects   - Developing detailed documentation of model design, processes, deficiencies, and validation in accordance with corporate and regulatory standards   - Leading communication, including serving as a key point of contact for actuarial modeling in the center, producing regular reports on team activities for project leadership and senior management committees, and participating in regular team meetings to track progress and issues with project   - Management of a team of actuaries who will support actuarial modeling and testing, including communication of project objectives and direction to these actuaries and   - Operations: Liaison with clients to understand requirements and conceptualize solutions, Owns and leads project delivery, Reviews outputs prepared by the team and adds business rationale; sign off of results and supervises junior actuaries   Knowledge, Experience, Education  Essential  - Actuarial student / fellow actuary with 10+ years life actuarial (preferably with advisory/consulting experience) in delivering services to Tier 1 and 2 insurance companies   - Proficiency with actuarial modeling software is required. Examples include Prophet, GGY Axis, MG-ALFA, MoSes, TAS, PTS, etc.   - Experience with Variable Annuities/Unit-Linked Products/Segregated Funds and experience with Solvency II.   - Advance Proficiency with Microsoft Excel, including VBA, is required.   - Excellent written and oral communication skills, including proven ability to write clear concise memos.   - Must be self-motivated and able to work independently.   - Should have led team of actuarial modelers in past   - An executive presence with excellent written and oral communication skills   - Ability to influence and collaborate with senior management and work across all levels of an organization   - Willingness to travel globally   Preferred skills:  - Familiarity with US Statutory and GAAP reserve methodologies is a plus.   - Experience with other programming languages, such as C++, MATLAB, or Python, is a plus   - Experience with software development process is a plus, especially software quality assurance. A successful candidate will have strong consciousness of software and actuarial controls.

Bangalore

Lead Actuarial Modeling - Life Insurance 

Lead Actuarial Modeling - Life Insurance  ,Job Description for Lead Actuarial Modeling - Life Insurance  in Mancer Consulting Services in  Bangalore for (8-15) years of experience. Apply Now!

Job Description for Lead Actuarial Modeling - Life Insurance  in Mancer Consulting Services in  Bangalore for (8-15) years of experience. Apply Now!