IDBI Federal - Sr Manager/AVP - Actuarial

Job Description:-

- Introduction of Data Validation System – for correctness, completeness and consistency of results.

- Strong Process to ensure good quality data and correct set of data is obtained from IT Department for valuation of companies liabilities.

- Ensure that errors from data validation is communicated to IT Department and track that necessary correction is being carried out on future data.

- Monthly/Quarterly Reporting’s internally – Statutory Reserves, Solvency Ratio’s, Cash flows to ALCO, Reserves Volatility.

- Introduction of Door, checker and Reviewer Process in valuation to ensure that accuracy of results is increased.

- Investigations of the above results in detail, and set reasoning for movements in different components of reserves.

- IRDA Reports submission – IRDA requires many different reporting for monthly and quarterly purpose, preparation and submission of reports to IRDA for compliance purpose like Public Disclosures, Reinsurance Returns, Quarterly NAV certificates, Group Deviation Certificates etc and ensuring high accuracy of those reports are being maintained.

- Analysis of numbers and commentaries for reporting purposes under AAA and ARA Reports to be submitted to IRDA.

- Financial Condition Report to be submitted to the board on an annual basis.

- Understanding new regulatory requirements on reporting and preparation of replies for regulatory queries.

- Quarterly Experience Analysis – Mortality, Morbidity, Expenses, Lapses.

- Testing the Products that are being set up on the actuarial software for valuation results.

- Annually reviewing the assumptions that will become input for valuation results.

- Monthly Reinsurance Premium Calculations.

- Add hoc requirements for numbers from any department and IRDA.

- Creation and Maintenance of Valuation Process Manual document.

- Actuarial Workspace/Software maintenance along with proper version controls for changes and documentation around the same.

- Responsibility of training 2 junior level actuarial students, this will help company to introduce do-or checker and reviewer process to ensure greater accuracy of results.

Interested candidates may mail their resume to ritu.sharma@idbifederal.com