Posted By
Posted in
Banking & Finance
Job Code
1457498
- To be responsible for competitive product pricing and IRDAI filing.
- To interact with various stakeholders in setting up the processes for new/modified products in the system and developing necessary tools for the system based on the requirements.
Key Responsibilities :
Responsibilities :
- To develop pricing model and cash flow based on the product requirements.
- To perform sensitivity and scenario testing.
- To prepare File & Use document for IRDA filing.
- To prepare the query response under product filings for IRDAI.
- To provide necessary support to IT team for setting new product/modification of existing products and features in the system and developing calculators for the system as and when required.
- To test the implementation of products in SIS and Ingenium.
- To perform Risk Assessment & Pricing
- To oversee the procedure of Product Filing
Specific Authorities (Financial & Non- Financial) Not applicable
CX/NPSQ/Ver 1.0/1 st Feb 2020
Key Performance Indicators
Regulatory compliance = 100% -
Accuracy = 100% (0 errors)
Job Requirements:
Qualifications Should be a graduate and must have cleared minimum 7-8 actuarial papers.
Experience - 5-6 years of relevant experience
Functional Competencies:
- Risk Assessment
- Actuarial Technical Expertise
- Modelling Tools
- Regulatory knowledge
Behavioral Competencies "
- Business Acumen
- Growth through differentiation definition
- Building talent and teams definition
- Customer centricity
Key Interactions:
Internal Nature or purpose of interaction
Corporate planning team
Inputs and requirements for business planning work. Finance team
Inputs and requirements for business planning work.
Tokio marine (JV) - Meeting the requirements of TM and communication of key outputs of business planning as required.
Actuarial - valuation
Reserving and valuation related information
Actuarial - Modelling
Input and requirements for setting up pricing model
Actuarial - EV and
Experience:
Inputs and requirements for setting up pricing assumptions
Products - Inputs and requirements for new/modified products and
Review of documents
IT and BSG - Review requirements and developments related to system
CX/NPSQ/Ver 1.0/1 st Feb 2020
Internal set-up for products
Legal and Compliance - Input and requirements for Policy Documents and Various communications to IRDAI
Underwriting - Review and Requirements for setting up Board Approved Underwriting Policy
Claims :
Review of calculations for high ticket and complex claims
Operations - Input and Requirements for various operational issues related to new/modified products
External Nature or purpose of interaction
IRDAI
- Corresponding for Product Filing and approval.
- Reinsurer - Negotiating and finalizing reinsurance arrangements for new as well as existing products.
Peers in other companies
- New development in insurance and actuarial field
Experience - 5+ Years
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Posted By
Posted in
Banking & Finance
Job Code
1457498