Job Title
- Modelling Actuary, Consultant
Position type
Full TimeWork Location
Bangalore, WhitefieldWorking style
HybridCab Facility
YesRequired education and certifications critical for the role
Degree in Actuarial ScienceRequired years of experience
3-5 years of relevant experienceSkills / Competencies Required
3+ years of modelling experience in life insurance industry or consulting firmsIn-depth actuarial domain knowledge of life insurance products including but not limited to the Indian market, and the statutory requirements for such productsExperience in IFRS17 / Ind AS 117, Traditional Embedded Value (TEV) and Market Consistent Embedded Value (MCEV) reportingUnderstanding of regulations such as HK-RBC, SG-RBC and Solvency IIExperience with object-oriented programming languages and actuarial software systems (Python programming experience preferred)Pursuing actuarial examinations from a recognized professional body / institute with good exam progressAbility to work in a highly collaborative environment as well as independently with minimum supervisionAbility to take ownership of a technical challenge and see it through to a successful conclusionStrong communication skills for heavy team and client interactionJob Responsibilities
Development ServicesDevelop and implement actuarial models for assets and liabilities for clients based on local valuation and solvency regulations for tasks like financial reporting, statutory liability computation, pricing, embedded value, and appraisal valueDevelop and implement IFRS17 reporting including calculation of fulfillment cash flows, risk adjustment, and Contractual Service Margin under different measurement models for clientsDevelop and deliver automated solutions including integration of multiple workflowsDevelop and implement asset liability management (ALM) / liability driven investing (LDI) models for institutional clientsProvide programming and analytical expertise in a practical asset / liability and portfolio management context, including ALM risk monitoring and reporting, asset rebalancing, portfolio optimizations, and investment strategy researchBuild and maintain financial asset models for use in balance sheet projections of financial services companiesBuild and maintain Economic Scenario Generators used in the valuation of financial assets and insurance liabilitiesFurther the development of robust processes for ALM, hedging, strategic asset allocation, scenario generator calibration, insurance company financial reporting, etc.Participate in the expansion of PathWise functionality as required or as requested by clientsOnboarding ServicesSupport the development of models and processes for companies moving into PathWiseProvide hands-on training for PathWise usersDevelop standalone training reference materials for PathWise usersIdentify shortfalls in company processes and propose improvementsTroubleshoot issues as they arise during PathWise migrations, focusing on providing a strong initial user experienceBusiness Development SupportParticipate in demonstrations to potential clientsDevelop models specific to client requirementsParticipate in industry, academic and internal research projectsDevelop and deliver presentations on emerging issues pertaining to the insurance industry and the financial services industryAttend industry and client conferencesSkills Required
Python