Job Description

Senior Analyst - ActuaryPosition Title - Senior AnalystActuary Internal Designation - ManagerJob Role Senior Analyst :Pricing and Risk AssessmentReporting to : Lead - Pricing and Risk AssessmentSub LOB / Department Actuarial Location : MumbaiTotal Headcount (Direct) Supervised 1Total Headcount (Direct / Indirect) Supervised 1Job Purpose :- To be responsible for competitive product pricing and IRDAI filing.- To interact with various stakeholders in setting up the processes for new/modified products in the system and developing necessary tools for the system based on the requirements.Key Responsibilities :Responsibilities :- To develop pricing model and cash flow based on the product requirements.- To perform sensitivity and scenario testing.- To prepare File & Use document for IRDA filing.- To prepare the query response under product filings for IRDAI.- To provide necessary support to IT team for setting new product/modification of existing products and features in the system and developing calculators for the system as and when required.- To test the implementation of products in SIS and Ingenium.- To perform Risk Assessment & Pricing- To oversee the procedure of Product FilingSpecific Authorities :(Financial & Non-Financial)Not applicable :CX/NPSQ/Ver 1.0/1 st Feb 2020Internal :Key Performance Indicators :Regulatory compliance = 100% -Accuracy = 100% (0 errors)Job Requirements : Qualifications Should be a graduate and must have cleared minimum 7-8 actuarial papers.Experience : 5-6 years of relevant experienceFunctional Competencies :- Risk Assessment- Actuarial Technical Expertise- Modelling Tools- Regulatory knowledgeBehavioral Competencies :- Business Acumen- Growth through differentiation definition- Building talent and teams definition- Customer centricityKey Interactions :- Internal Nature or purpose of interaction Corporate planning team- Inputs and requirements for business planning work.Finance team :- Inputs and requirements for business planning work.Tokio marine (JV) - Meeting the requirements of TM and communication of key outputs of business planning as required.Actuarial - valuation : Reserving and valuation related informationActuarial - Modelling : Input and requirements for setting up pricing modelActuarial - EV and Experience- Inputs and requirements for setting up pricing assumptionsProducts - Inputs and requirements for new/modified products andReview of documents :IT and BSG - Review requirements and developments related to systemCX/NPSQ/Ver 1.0/1 st Feb 2020Internal set-up for productsLegal and Compliance - Input and requirements for Policy Documents and Various communications to IRDAIUnderwriting - Review and Requirements for setting up Board Approved Underwriting PolicyClaims :- Review of calculations for high ticket and complex claimsOperations - Input and Requirements for various operational issues related to new/modified productsExternal Nature or purpose of interactionIRDAI - Corresponding for Product Filing and approval.Reinsurer - Negotiating and finalizing reinsurance arrangements for new as well as existing products.Peers in other companies :- New development in insurance and actuarial field- Documented By Senior Analyst - Pricing & Risk Assessment- Approved By Lead - Pricing and Risk Assessment- HR certification By HR - BP

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