Max Life Insurance - Senior Manager - Actuarial Services

About Max Life Insurance:

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third-party distribution partners. Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.

For more information, please visit the Company's website at www.maxlifeinsurance.com

To know more about our Actuarial Team, visit our LinkedIn page at https://www.linkedin.com/company/max-life-insurance-company-limited/life/a8e62281-fd54-4709-a924-19785a1dcc8a/

We Stand for:

Caring- A compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.

Collaboration- A boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization's ask. A leader who addresses challenges with a solution-oriented approach to create "win-win" partnerships within & outside teams through inspired cooperation and teamwork.

Customer Obsession- A leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.

Growth Mindset- An ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.

People Leadership- A people's leader who inspires their teams to stretch themselves and achieve their true potential. A leader who creates leaders by coaching, empowering & motivating them to deliver superior business outcomes.

"Max Life Insurance is an Equal Opportunity Employer and promotes inclusion and diversity."

Key Responsibilities:

Business Plan and Risk Analysis (BPRA)

Business Planning:

- Business Plan - Performing yearly business plan activity involving projection of the Margins, EV, Stat Profit etc. Tracking of the plan numbers against the actual and identify the reasons for the differences. Annual IRDAI submission on FCR, Annexure ST and Section 7 of AAAR/ARA.

Experience Analysis:

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

- 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.

- 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.

Essential qualifications and experience:

Qualification - must have:

Graduate/post graduate with good actuarial exam progression.

Experience:

5-7 year of actuarial experience