Assistant Actuary - US Life Insurance/P&C - BPO

Hiring for Assistant Actuary-Bangalore

Opening in a leading BPO for Assistant Actuary-Bangalore

- 4+ Relevant Experience in Actuary must.

- Experience into Life Insurance or Property & Casualty .

The Assistant Actuary is responsible for a variety of valuation and reporting tasks, including:

- The review of actuarial assumptions in valuation systems for accuracy. This task will include crosschecking the Statutory and GAAP assumptions sets in ArcVal against the appropriate documents holding the assumptions (product specifications/unlocking memos).

- Perform independent validation of reserve calculations by hand calculating reserves and comparing results to policy level outputs from the valuation system

- Assist with quarterly Poly Systems runs and extracting the results into Excel. This includes retrieving input files from IT, ensuring they are updated for month end, running the valuation and extracting/summarizing the results in Excel

- Develop, implement and refine processes to extract and consolidate valuation systems outputs into spreadsheets, databases or other valuation tools

- Calculate premiums to re-insure the death benefits for a block of variable annuities with guaranteed minimum death benefits. This includes running queries in Access to collect policy data, completing quality assurance checks to ensure the appropriate policies are included, balancing/reconciling the account and fund values and populating the data into a spreadsheet to calculate the premiums.

- Management of a team of actuaries, including communication of project objectives and direction to these actuaries and ensuring that team objectives are met

Position Requirements :

- Bachelors degree or equivalent in Mathematics, Actuarial Science or related field.

- Associate of the Society of Actuaries/Institute of Actuaries (Fellow preferred), 5+ years experience doing responsible actuarial work.

- Experience with the US Life Insurance space is required. Familiarity with US Statutory and GAAP reserve methodologies is a plus.

- Valuation system knowledge required. Examples include PolySystems, ARCVAL, etc.

- Extensive experience with Microsoft Excel, including VBA, is required. Experience with other programming languages, such as C++, MATLAB, or Python, is a plus.

- Prior experience with actuarial modeling software is a plus. Examples include Prophet, GGY Axis, MG-ALFA, MoSes, TAS, PTS, etc.

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

- Excellent written and oral communication skills, including proven ability to write clear concise memos.

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