Manager - Internal Audit/Actuarial - BFSI

JOB SUMMARY:

- Plan and execute audit of Statutory reserving process and Reinsurance Administration as per defined periodicity.

- Plan, execute, and coordinate audits of actuarial pricing assumptions at the time of product set up in policy administration system including other support systems.

- Audit of Actuarial reporting and compliance requirements as per IRDA regulations.

- Perform Product assurance reviews on the set up of Day 0 requirements in policy administration system and other support systems for new products.

- Plan and execute audit of Operational readiness (of day 2 requirements) of products launched and periodical review of contractual payouts to the customers.

- Participate in Corporate audits as a team member to assess the control effectiveness of the process being audited.

- Prepare reports presenting findings and recommendations.

KEY RESPONSIBILITIES:

- Evaluate the adequacy and efficacy of internal controls which includes:

- Participate in developing detailed risk assessment and audit programs especially for Actuarial audits

- Perform specific audit procedures, prepare work papers documenting the audit procedures performed and prepare reports

- The follow-up to determine the adequacy of corrective actions - Track and validate the status of issues highlighted.

- Participate in development and execution of centralized risk monitoring program.

- Special projects as may be assigned.

JOB REQUIREMENTS

- Graduate / Post graduate with a part Actuarial qualification

- Should have minimum three years of experience in the insurance industry

- Should have sound knowledge of IRDA regulations and guidelines issued by the IRDA from time to time

- Ability to understand IT System functionalities,

- Sound knowledge of MS-Office 2007

- Should have strong analytical, written and verbal communication skills