Overview
AVP – Actuaries – Life Insurance (Indian Banks)
Domain:
– Life Insurance, with 10% of work in Pensions
– General Insurance, Health Insurance experience is not relevant
Skills:
– Economic Capital / Risk based Capital / Solvency II
– Embedded Value Reporting
– IFRS17 – preferred but not mandatory
Exams:
– Atleast 10 out of 15 (as per old curriculum)
– Any of the institutes – India or UK are fine (both have identical curriculum)
Key Skills (there are consistent to other MRM areas):
– Stakeholder management
– Communication of technical outcomes to non-technical audience
– Report writing skills
We are seeking a qualified actuarial professional to join our team. You will be responsible for validating complex insurance models to ensure they are robust, compliant, and fit for purpose.
Key Responsibilities:
– Validate actuarial models (e.g., valuation, capital reporting, pricing) assessing theory, data, calculations, and documentation.
– Produce clear validation reports, highlighting issues and recommendations.
– Work with model developers and owners to resolve identified problems.
– Communicate complex model risks and limitations effectively to technical and non-technical stakeholders.
– Provide coaching and guidance to junior team members.
Essential Skills and Qualifications:
– Near or fully qualified actuary with 5-10 years of experience in the insurance industry.
– Strong technical knowledge across key actuarial areas (Statutory Valuation, Solvency II/RBC, IFRS 17, Pricing).
– Experience with actuarial modelling software (e.g., Prophet, RAFM) as a user or coder.
– Excellent communication, interpersonal, and report-writing skills.
– Ability to explain complex concepts to diverse audiences and manage senior stakeholder relationships.
– Bachelor’s or Master’s degree in a quantitative field (Mathematics, Statistics, Finance, etc.).