Actuarial Modeler

Pls share your thoughts on exploring the opportunity with Genpact for the location of B’lore

Represent a HR Placement Search Firm “ Eureka House” based in Delhi and am actively associated with Genpact India in their Corporate hiring plans on Pan India.

Genpact, a global leader in business process management services, uses process to help its clients power intelligence across their enterprise to run smarter operations, make smarter decisions and use smarter technology. Genpact’s Smart Enterprise Processes (SEPSM) framework, its unique science of process combined with deep domain expertise in multiple industry verticals, leads to superior business outcomes. Details on the company can be viewed on URL: www.genpact.com

Genpact has immediate openings for Actuarial Modeller to be based at Bangalore. This will require the incumbents to travel within India as well as abroad. This one must be willing to travel as and when the business demands.

The positions will require the incumbents to work in Shift timings from 1:00 PM IST to 11:00 PM IST (Depends on the business shifts). Hence the incumbents must be prepared to work in shifts as per the business shifts.

About the Business: GENPACT, as part of the BFSI COE, in-sources “Actuarial Analytics” processes. The Objective of this Genpact operations unit has to tie into the overall aims of different stakeholders. The group aims to provide a high standard of service for Insurance Actuarial Analytics and therefore its end clients. The product services include Actuarial Analytics processes.

The Actuarial Modeling Initiative is tasked to produce a tool which projects income statements and balance sheets for client’s Life & Retirement business on various accounting bases, including projections of principles-based reserves and capital and forward market-consistent valuations of liabilities.

Experience with the US Life, Retirement and/or P&C Insurance space is required . Experience with Variable Annuities/Unit-Linked Products/Segregated Funds and experience with Solvency II.

Education: Bachelor’s degree or equivalent in Statistics, Actuarial Science or related field.

Professional Qualification( Eg: CPA/ CFA):

- Student Member of the Society of Actuaries/Institute of Actuaries with at least 5 papers cleared.

- Associate Actuary from the Society of Actuaries/Institute of Actuaries will be preferred.

- Understands concepts of US Statutory and GAAP reserve methodologies and Market consistent valuation.

Job Responsibility:

- Strong Domain and concept of Actuarial Modeling

- Familiarity with US Statutory and GAAP reserve methodologies

- Familiarity with market consistent valuations

The detailed job responsibilities are as follows: -

1. Development of actuarial models to support this initiative, including

a) implementation of model functionality based on detailed specifications in accordance with enterprise and industry standards, using efficient algorithms to implement logic described in documentation, and updating documentation to reflect actual model design;

b) implementation of liability products and assumptions in the modeling system, including development of automation processes to optimize population of data in the system, and designing products in line with specifications

c) execution of models on base unit test cases, ensuring that models run to completion and produce expected results

2. Developing and updating documentation to support model development and validation in accordance with corporate and regulatory standards

Essential skills:

- Proficiency with actuarial modeling software is required. Examples include Prophet, GGY Axis, MG-ALFA, MoSes, TAS, PTS, etc.

- Should have been involved in independent model building and development projects

- Experience with Variable Annuities/Unit-Linked Products/Segregated Funds and experience with Solvency II.

- Advance Proficiency with Microsoft Excel, including VBA, is required.

- Excellent written and oral communication skills, including proven ability to write clear documentation of complex processes.

- Good Team player

- Must be self-motivated and able to work independently.

Preferred skills:

- Familiarity with US Statutory and GAAP reserve methodologies is a plus.

- Experience with other programming languages, such as C++, MATLAB, or Python, is a plus

- Experience with software development process is a plus, especially software quality assurance. A successful candidate will have strong consciousness of software and actuarial controls.

Years of experience : At least 3+ years in actuarial modelling

Looking at an incumbent with good academic background and presentation, communication skills. Compensation will be industry competitive and will not be a constraint for the right fit. Pls revert with your detailed resume for further processes. Shall speak to you once we have the resume .

Prompt response will be highly appreciated

Ajay Pande,
Eureka House,
M-09810105767