HR at MAX Life Insurance
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Max Life Insurance - Manager - Actuarial (5-7 yrs)
Position : Manager - Actuarial
No. of Positions : 1
Department : Corporate Actuarial
Function : Actuarial Services
Reporting to : Assistant Vice President (Corporate Actuarial)
Band : 4
Location : Gurgaon
Job Summary :
In this role, you will be mainly responsible for the following areas of work :
1. Calculating the embedded value of the Company on market consistent basis;
2. Production and actuarial review of Business Plan of Company;
3. Assisting in reporting of statutory valuation resultsto the regulator and senior management.
Key Responsibilities :
MCEV reporting :
- Calculating the embedded value on quarterly basis along with analysis of key movements;
- Ensuring robustness and accuracy of prophet models being used in EV calculation;
- Ensuring completeness and accuracy of documentation of key tasks in calculation of EV;
- Preparation of reports and investor release presentation.
Business Planning :
- Generating business plan projections and the production of actuarial review of the business plan results;
- Ensuring completeness and accuracy of documentation of key tasks in production of business plan;
- Working with Finance team to analyse plan to actual variances and incorporating them into ongoing developments.
- Assisting the PROPHET modeling requirements of the Corporate Actuarial team;
- Performing UAT of actuarial models used for calculation of EV and business plan results.
Measures of Success :
- Timely delivery of the results to enable financial reports to be prepared as per business requirements;
- Reporting of work with minimal errors through thorough checking of the results;
- Feedback from seniors;
- Feedback from team members.
Desired experience :
- Member of the Institute of Actuaries of India OR Institute and Faculty of Actuaries, UK
- The candidate should be associate or above (with ST2 exam passed).
- Experience of 5-7 years in a life insurance company/consultancy.
Knowledge and skills required :
- Strong hold on actuarial fundamentals;
- Ability to perform a result oriented analysis combined with sharp articulation of key messages for the reviewer and senior management;
- Good communication skills;
- Strong prophet modelling skills;
- Proficient with using MS excel (including coding in VBA)
- Good with use of DCS tool.
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