Max Life Insurance - Manager/Senior Manager - Corporate Actuarial

Position : Manager/Senior Manager

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 following areas of work:

- Calculating the embedded value of the Company on market consistent basis;

- Production and actuarial review of Business Plan of Company;

- Reporting of statutory valuation results to the regulator and senior management.

Key Responsibilities:

1. MCEV reporting :

- Checking of embedded value results on a 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.

2. 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.

- Working with cross-functional teams - Products, FP&A, Investments and Finance to ensure reconciled and robust financials in the plans

3. Statutory Valuation :

- Assisting in reporting of statutory valuation results to senior management on monthly basis;

- Assisting in the preparation of actuarial forms and annual reports submitted to the IRDA.

4. Others :

- Assisting the PROPHET modeling requirements of the Corporate Actuarial team;

- Performing UAT of actuarial models used for calculation of EV business plan and statutory valuation 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:

- Qualification - Member of the Institute of Actuaries of India OR Institute and Faculty of Actuaries, UK

- The candidate should be close to associateship (should have passed CT series actuarial exams along with CA1/ST2 exam (preferred)).

Experience :

Minimum experience of 4-5 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 preferred);

- Good with use of DCS tool.