Associate Actuarial Manager

Job details

Job Title: Associate Manager (Actuarial)

Domain: UK Life Insurance (GGY AXIS/Mo.Net Modelling)

Location: Noida/ Hybrid

Job Description

The role holder will work closely with the UK Customer Directorate team (in particular the Actuarial Head) who will be for accountable for all work done by the off-shore Actuarial team. The role holder will ensure the Actuarial Manager has access and information that enables them to oversee all offshore activity, and will ensure that all UK instructions, controls and changes are implemented effectively."

Purpose of the role

To model in GGY (Moody) AXIS and/or Mo.Net

To work in the Actuarial Team engaged in supporting manual actuarial calculations for UK Life insurance.

To Understand Customer needs and provide service as per company’s operational standards, procedures.

To deliver all services as per specified standards of Quality and Timeliness

To oversee the day-to-day operation of the Team and performance

Promote a healthy and motivating work environment and atmosphere.

Identify training needs and provide coaching.

Listen to team members’ feedback and resolve any issues or conflicts.

To drive process improvements in the team

Key tasks and responsibilities:

Set up models right from the scratch in software GGY (Moody) AXIS/Mo. Net

Migration of models from legacy software to above software

Cross check cashflows from migrated software and match with the last published figures

Individual and block testing

Identify the differences and amend the model to fix it.

Document the entire process of modelling.

Present product wise report to SMT

Lead and coach juniors on modelling.

Other tasks –

Performing contractual premium review of product block/policies.

Repricing following premium review by creating models.

Working on Bonus, Expense review, Fund mergers etc projects

Ensure that work is processed as per agreed quality standards for correctness and fairness.

To ensure that all enquiries are recorded correctly on the Company Systems, for work to be scheduled to the individual and the team and to provide an audit trail.

To ensure that you are aware of the company complaint and incident identification procedure and that these are acted upon immediately to minimise regulatory breaches, customer/client detriment and business image.

To ensure that work is processed within industry compliance and legislative requirements under the guidance of the Manager, Analysts and Technicians, ensuring compliance with controls and procedures.

To undertake any other duties as may be deemed appropriate by your manager.

Ensure personal and business objectives for self are met in line with the departmental business plan and monitor success.

To ensure that regulatory and audit requirements are met. To be aware of data security from a customer and business perspective and take responsibility for the prevention of fraudulent activity. Maintaining the data protection ideals of clear desk, secure storage, and secure PC.

To ensure that the business operating systems utilised are used correctly and professionally.

Ensure all regular events, including audit activities and actions, are completed / escalated.

To adhere to local and corporate governance and controls ensuring business operating systems and procedures are utilised / updated as necessary.

To adhere to all HCL policies and procedures

Person Specification

Education/Qualifications/Training:

Graduation in Actuarial Science

Actuarial exam/s passed from IAI/IFOA/SOA etc.

BSC/MSC Actuarial Science or BSC Mathematical or Financial subject

Specific Job Skills:

Good Knowledge of MS Office (especially Excel)

Able to demonstrate a good knowledge of the technical aspects of Life insurance products.

Excellent communication skills – verbal and written.

Workforce planning knowledge

Understanding of Actuarial Processes and procedures

Experience:

At Programming experience (especially VB or VBA)

Experience with Structured Query Language (SQL)

Actuarial Analysis experience within Life insurance sector

At least 5 years of experience of modelling Life insurance product in GGY AXIS/Mo Net/any software

Experience of working within an outsourcing environment

Team collaboration

Core Competencies (HCL Standards):

Strategic Commercial Awareness

Change & Innovation

The need to work in a regulatory environment.

Delivering Excellence

Team player

Candidates with actuarial pricing modelling experience would be preferred.