Manager Life Insurance

Kunal Bansal

***, ******** *****, ***** ****, New Delhi–18 Mob: +91-981******* *****.******@*****.***

Career Objective

Looking for an organization with a dynamic, challenging technical process position that will utilize my experience acquired through mathematical/statistical abilities developed through academic and work experience based on actuarial principles and techniques in a manner those results in mutual value addition.

Work Experience

1. Presently working as Assistant Manager (Actuarial), from Dec 2010 with Mercer India Pvt. Ltd., where my responsibility includes;

Technical:

Perform Annual Valuations of Defined Benefit pension plans for various U.S. based clients. Phases of valuation work ranged from getting the data ready for liability estimations to annual valuation report generation. Precisely the job list comprised of:

• Working on participants data to make it fit for valuation which includes data analysis, membership reconciliations and data questions

• The liability is calculated based on new valuation data and last year assumptions to see impact of data on the Liabilities.

• Update Liability assumptions as appropriate for current year and produce final Liability results having complied with PPA regulations.

• Analyzing sufficiency of Assets to meet current Liabilities, any shortfall needs to be identified and amortized by sponsor.

• Estimation of Minimum Required contribution and Maximum Deductible contribution.

• Preparation of the valuation report.

Managerial:

• Managing a team of 8 Actuarial Students. Main responsibility is project management, tracking deliverables and knowledge sharing session within the team.

• Create and Maintain Relationship with US Actuarial Team and ensuring high quality work

• Other responsibilities include annual appraisals, handling daily people issues, managing leaves, interview process and ensuring minimum Iteration from team.

2. Worked as Assistant Manager (Pricing), (May 2009- Nov 2010) with MetLife GOSC Pvt. Ltd., where my responsibility includes;

Technical:

• Pricing of non-participating conventional schemes (individual and group) using ‘VIPiTech’, actuarial modeling system and excel model.

• Experience analysis of the scheme members to calculate the mortality adjustments.

• Analyses the cash flows, expenses, profit loading (ROI) to calculate the single premium using appropriate 15- year forward rate (single discount rate).

• Analyses the movement in pricing output i.e. premium with the fluctuation in various economic scenarios - swap rates, inflation and z-spread (risk premium for risky securities).

• Preparing documents (internal and external) which summarize the pricing activity comprising scheme details, methodology, assumptions and caveats.

• Built Standardized Insurance Template for comprehensive fundamental analysis of UK pensions norms. This Template is now used across all locations of MetLife.

Managerial:

• Managed a team of 3 actuarial students and been recognized as the best team to work efficiently.

• Interacted with clients to make sure that the area of concern can be worked upon for improved worked quality and performance.

• Monitor and audit the work done by the team members and giving feedback with score sheet at regular interval.

• Value addition to the organization

o ¬Successful execution of pilot project & transition by showing the capabilities and knowledge.

o Applied my work skills acquired while onsite training in London to document the whole process which enabled for the new joiners in the process to grasp fast.

o Innovate and handle the common query log that helps to fasten up in solving the issues arising in the process.

3. Worked as an Assistant Manager (Pricing) (October 2007 till April 2009) with Paternoster India Pvt. Ltd, a FSA regulated insurance company that takes on the risks associated with companies’ final salary/defined benefit pension schemes, where I handled

• Calculation and documentation of premium and liabilities of deferred and immediate bulk annuities as well as single annuities using PROPHET Software.

• Performing member calculations including the Transfer Value calculations, Cash Commutation Factor calculations, Late Retirement Pension calculations.

• Production of profitability results i.e. calculating IRR, New Business Embedded Value and Embedded Value.

• Involved in the PROPHET testing for the group pension schemes by using Workspaces, Libraries, Products, and Tables (such as Global files, model point files, Parameter files, Mortality tables). To understand the calculations we used diagram view. The result has been reported through Excel.

4. Worked with TRUMP & GATES, New Delhi as Faculty Member for Actuarial Science (June 2006 to Sep 2007) & handled the following academic assignments which helped in building strong conceptual base.

• Taught three actuarial science students (CT1, CT3 and CT6) to sixty students.

• Increased the efficiency of the lectures by implementing various changes in the teaching methodology, restructuring of time allocated per subject and delivery pattern of course content.

• Counseling for pursuance of Actuarial Science as a career.

5. Worked as Insurance Advisor (Jan 2005-Feb 2006) with Birla SunLife Insurance Ltd.

• Selling Life Insurance Policies by building strong contact network.

• Contact prospects for Life Insurance, study their needs, find the best plan to meet those requirements and persuade them to buy.

• Complete all related formalities, including filling up proposal forms, collecting premium, arranging medical examinations, collecting proofs.

6. Worked as an Executive Assistant (June 2003 till Dec 2004) with Techno Associates, Delhi:

• Managed the staff of 6 people maintained the stock and managed the sales and accounts.

• Handling of the matters related to the working capital finance with the bankers of the company such as overdraft and interest calculations.

Professional Achievements

• Recognized with GCS Award for Excellence in Global Capability sourcing in June 2010

• Won Met Blue Award for Outstanding Contribution to the Actuarial Process Transition in Q4 2009

• Completed 7 Quality Tools and 6 Sigma training for the processes improvement in terms of accuracy and productivity in MetLife.

• Cleared the examination on Life Insurance of 100 hrs under Insurance Regulatory and Development Authority under the sponsorship of Birla Sun Life Insurance Ltd.

• Other achievements :

o Passed the 42th Annual All India General Knowledge Test.

o Won a certificate in the first level National Mathematics Olympiad Contest.

o Secured First Position in MotiLal Nehru College in class B.Sc. (Hons) Mathematics Ist year in the Annual Examination of the University.

Professional Certifications

• Papers Cleared: CT1, CT2, CT3, CT5, CT6, CT7 and CT9

• Preparing : CA1, ST5

Academic Qualifications

• BSc(H)Mathematics - Moti Lal Nehru College, DU with 63.1% aggregate, July 2000 – May 2003

• An Aggregate of 64% in Higher Secondary Examination, 2000

Soft Skills

• Office Tools : Excel for Analytical purposes like Net Present Values, Look up Functions.

• Actuarial Tools : Prophet, VIPiTech

Areas of Interest

• Prepare and present reports, summarizing findings and recommendations.

• Writing Articles for Institute of Actuaries of India magazine.

Strengths

• Demonstrated ability to manage and guide subordinates.

• Ability to work in a team environment with rapidly changing priorities and demands.

• Strong focus on providing service to clients and problem resolving attitude and a Team Player.

• Excellent interpersonal skills; strong communication skills.

• Strong numerical ability and creative, innovative and analytical skills.

Contact this candidate