Senior Manager - Actuary Valuation/Financial Reporting - BFSI

Our client is one of the leading private sector Life Insurance Company.

Position: Senior Manager - Actuary Valuation/Financial Reporting.

Role Summary :

- Responsible for tracking circulars sent by the regulators and define the actuarial guidelines and ensure the company is abreast with the guidelines. Reviews the valuation assumptions made by the product pricing team and gets approval from Appointed Actuary., also responsible for filing statutory reports and preparing the Financial conditions report to appraise the management about the risks incurred by the company

Key Result Areas :

- Carry out the monthly valuations of the life insurance business, and in particular.

- Use experience investigations in relation to mortality, and any other significant risk factors, that are produced to support valuation and pricing assumptions.

- Recommend assumptions and methods.

- Produce the necessary results for long-term business.

- Carry out analysis of various key parameters and report on the findings to the Appointed Actuary

- Produce the inputs to Valuation Reports.

- Assist in the production of the relevant IRDA returns.

- Ensure timely submission of IRDA returns.

- Ensure that the valuation process is compliance with relevant IRDA regulations and professional guidance.

- Train the team in actuarial techniques related to valuation of liabilities.

Key Areas :

- Help Appointed Actuary, Chief Actuary in setting up valuation bases.

- Produce capital requirements on Statutory and bases for the company.

- Report on a regular basis to the management on the Solvency position of the company.

- Assist the Appointed Actuary in preparation of the Financial Conditions Report to identify the risks faced by the company.

- Ensure that the monthly New Business report for IRDA is accurate.

- Provide data to the management from time to time on social and rural sector business.

- Responsible for conducting various experience analysis and help in setting up valuations/ pricing basis.

- Reconcile data received from claims department for mortality / morbidity with the data held in computer records.

- 'Own-up' the risk of the function by developing a risk aware culture through participation in measurement, analysis and mitigation of risks associated with the respective function.

- This includes development of risk response processes, participation in contingency and business continuity programs and reporting of emerging risks with potential impacts. Also respond to risks highlighted by employees through formal / informal mechanisms and advice on various risk management issues within the organization and provide feedback.

- Participate in implementing risk mitigation plan through optimum resource allocation, monitoring and reporting on status.

Experience and Education : Qualified Actuary with at least 5 years work experience in actuarial department