Posted By
Posted in
Banking & Finance
Job Code
734415
JOB DESCRIPTION
Job Title : Senior Manager - Product Pricing
Band : 4A
Reporting To: Vice President - Product Pricing
Department : Product Management
Location : Gurgaon, HO
JOB SUMMARY :
Product Ideation and Design :
- Collaborate in the design of new Products along with other stakeholders and play a pivotal role in product development lifecycle starting from ideation, pricing, internal and regulatory approval
- Strike a right balance between commercial considerations and risk management while recommending product designs
- Together with the product manager, provide designs which are feasible to administer within the Max Life framework
- Adherence to the product launch calendar and supporting the organization through changes
Product Pricing :
- Provide main technical inputs and ensure robustness of pricing models and Illustrations
- Ability to create and review excel models for pricing and profit testing
- Ability to provide insightful summary of the results of various iteration and sensitivities done during pricing
- Comprehensive analysis on various product design aspects in the Pricing Report
- Prepare pricing reports, F&U and other documents necessary to get internal and IRDA approval
- Active involvement in finalizing the pricing assumptions and take necessary sign offs
- Modeling products in Prophet (actuarial software)
Product Approval :
- Prepare the pricing report and facilitate approval from internal product approval committee and the Appointed Actuary
- Prepare the - File and Use- document and reply to IRDA queries
MEASURES OF SUCCESS :
- Ability to work with minimum supervision and problem solving ability
- Completion of tasks on time and at desired standards including documentation and audit trails
- Accuracy of results and comprehensiveness of the pricing model/reports
LEADERSHIP/DIRECT REPORTS :
- The ideal candidate should be proactive in taking responsibilities and capable of working effectively in a cross functional team.
JOB REQUIREMENTS :
MINIMUM EDUCATION :
- Graduate
- Qualified or nearly qualified actuary
MINIMUM/SPECIFIC EXPERIENCE :
- Minimum prior experience of 6-8 years working in a life insurance and/or actuarial consultancy is required
- Pricing experience, awareness of competitive landscape in the Indian Life Insurance market and IRDA regulations would be an added advantage
- Experience of pricing of products on excel and on Prophet would be an added advantage
COMPENSATION RANGE :
- Market competitive and based on previous salary and work experience
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Posted By
Posted in
Banking & Finance
Job Code
734415