Job Description

Position type-

Full Time

Work Location-

Bangalore

Working style-

Hybrid

Cab Facility-

Yes

Required education and certifications critical for the role-

Degree in Actuarial Science

Required years of experience

- 3-5 years of relevant experience

AON IS IN THE BUSINESS OF BETTER DECISIONS

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.


As an organization, we are committed as one firm to our purpose, united through trust as one inclusive, diverse team and we are passionate about helping our colleagues and clients succeed.

INFORMATION ABOUT THE BUSINESS

Aon Life Solutions provides high efficiency computing software, consulting services as well as advisory services to financial intermediaries, primarily insurance companies. The high-performance software platform, PathWise, provides companies with the ability to easily model financial obligations without involved coding and is run on Graphical Processing Units (GPU), making it the fastest, readily available software platform currently in use in the insurance industry. Global Life Risk Modelling consulting services has focused primarily on actuarial analysis, modelling of insurance liabilities and financial assets and reviews of hedging programs. As a Consultant in Global Life Risk Modelling Consulting Team, you will work with different teams to support the development of models and processes for companies moving to PathWise. You will break down complex problems into steps that drive product development. You will provide valuable contributions to the Aon Life product vision and go-to-market strategy.

GENERAL DESCRIPTION OF ROLE:

As part of an industry-leading team, you will help empower results for our clients by delivering innovative and effective solutions as part of our Solutions & Technology Group (STG) within Aon Reinsurance, in India. As a modelling actuary, you will report directly to the Associate Director, Consulting

JOB RESPONSIBILITIES

Development Services

Develop 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 value Develop and implement IFRS17 reporting including calculation of fulfillment cash flows, risk adjustment and Contractual Service Margin under different measurement models for clients Develop and deliver automated solutions including integration of multiple workflows Develop and implement asset liability management (ALM) / liability driven investing (LDI) models for institutional clients Provide 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 research Build and maintain financial asset models for use in balance sheet projections of financial services companies Build and maintain Economic Scenario Generators used in the valuation of financial assets and insurance liabilities Further 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 clients

Onboarding Services

Support the development of models and processes for companies moving into PathWise Provide hands-on training for PathWise users Develop standalone training reference materials for PathWise users Identify shortfalls in company processes and propose improvements Troubleshoot issues as they arise during PathWise migrations, focusing on providing a strong initial user experience

Business Development Support

Participate in demonstrations to potential clients Develop models specific to client requirements Participate in industry, academic and internal research projects Develop and deliver presentations on emerging issues pertaining to the insurance industry and the financial services industry Attend industry and client conferences

SKILLS/COMPETENCIES REQUIRED

3+ years of modelling experience in life insurance industry or consulting firms In-depth actuarial domain knowledge of life insurance products including but not limited to the Indian market, and the statutory requirements for such products Experience in IFRS17/Ind AS 117, Traditional Embedded Value (TEV) and Market Consistent Embedded Value (MCEV) reporting basis Understanding of regulations such as HK-RBC, SG-RBC and Solvency II Experience 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 progress Ability to work in a highly collaborative environment as well as independently with minimum supervision Ability to take ownership of a technical challenge and see it through to a successful conclusion Strong communication skills for heavy team and client interaction.

HOW WE SUPPORT OUR COLLEAGUES

In addition to our comprehensive benefits package, we are proud to be an equal opportunity workforce. At Aon, we believe a diverse workforce is an innovative workforce. Our agile, inclusive environment allows colleagues to manage their wellbeing and work/life balance while empowering you to be your authentic self.


Furthermore, all colleagues enjoy two "Global Wellbeing Days" each year, encouraging them to take time to focus on themselves. We offer a variety of workstyle options through our Smart Working model, but we also recognize that flexibility goes beyond just the place of work... and we are all for it!


Our continuous learning culture inspires and equips colleagues to learn, share and grow, helping them achieve their fullest potential. As a result, Aon colleagues are more connected, more relevant and more valued.

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