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29/11 Vasundhara
HR at MAX Life Insurance

Views:649 Applications:94 Rec. Actions:Recruiter Actions:11

Max Life Insurance - Assistant Manager - Actuarial Services - Business Planning Team (1-2 yrs)

Gurgaon/Gurugram Job Code: 868525

No. Of Openings : 1

Designation : Assistant Manager - Actuarial Services ( Business Planning Team )

Experience : 1 Years To 2 Years

Location : Gurgaon

Key Responsibilities:

- Business Planning - Annual business planning exercise and tracking the actuals vs Plan over the year. Preparation of the annual FCR report. Coordinating with EV, valuation, pricing and Finance team on the inputs and results for business plan.

- NBM reporting - The role would require performing all the steps of NBM reporting i.e. assumption changes, modeling changes and business mix changes.

- Allowable reporting - Measuring the allowable under the new business helps the business planning team to identify areas of control over payouts to the channels. The role would require monthly and quarterly allowable reporting to the financial planning team so that they can compare the actual expenses vs those loaded in premiums / planned expenses.

- Assumptions setting - Actuarial assumptions are required for calculation of reserves, EV, NBM and pricing new products. The role would involve performing the assumption setting exercise once in a year for mortality/lapses to determine the assumptions to be used in pricing, EV and valuation.

- Knowledge of IRDAI product regulations and up to date information of regulatory changes. Also in depth knowledge of new products launched by the company before generating their NBMs.

- Quarterly discontinuity/mortality reporting - Executing DCS codes, updating excels and working out the discontinuity/mortality rates. Analyzing the trends, updating the quarterly report and communicating the results together with recommendations.

- Annual persistency report (annexure to Appointed Actuary Annual report) - Preparing the annual persistency report for IRDA submission

Essential Qualifications and experience:

Qualification

- Student member of the Institute of Actuaries of India OR Institute and Faculty of Actuaries, UK

- 5+ CT actuarial exams, CT 5 Mandatory

Experience

- 1-2 years of experience in a life insurance company / consultancy.

- Minimum 1 year of hands on experience on Prophet/DCS and its applications

Primary Interactions: -

Internal - The Appointed Actuary, Other Actuarial teams in Max Life, Finance, Operations, IT

Knowledge and skills required:

- Ability to perform a result oriented, technical analysis and ability to perform under pressure of deadlines, as and when required.

- Strong communication skills - clear articulation of key messages arising for a technical work for the reviewer

- Ability to work in a team as well as independently as and when required

- Good understanding of cash flows of life insurance products

- Knowledge of working with PROPHET actuarial software.

- Proficiency in MS Excel, MS Word, MS Power point and Prophet

Measure of Success

- Timely delivery of the results to enable reports and analysis to be prepared as per business requirements;

- Reporting of work with minimal errors through thorough checking of the Prophet models;

- Clear communication of results covering various aspects of the analysis undertaken.

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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