Manager - Actuarial Services

Key Responsibilities:

Business Planning:

- Performing yearly business plan activity involving projection of NB margins, EV and related measures, profit, solvency, etc.

- Tracking of plan numbers against actual, and identify reasons of 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. Preparation of annual IRDAI reports.

- 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.

Measure of Success:

1. Meeting the TAT defined

2. Accuracy of numbers

3. Insights provided

4. Communication of trends and insights

Skills:

1. Proficient in Prophet and DCS

2. Strong analytical and report writing skills.

3. Hands on experience with Experience Analysis, Business Plan and EV reporting.

4. Proficient in MS Excel and MS word.

Primary Interactions:-

1) External - Finance, claims, underwriting, IT, products, persistency team, FPnA.

2) Internal - Pricing, Group/Reinsurance, valuation and modeling teams

Essential qualifications and experience:

Qualification - must have

Graduate/post graduate with 6-8 actuarial exams.

Experience - 3-5 years of actuarial experience in any of Indian life insurance company/life insurance consulting in India.