Angel Lane Partners (ALP Tech)
Website:
alptech.io
Job details:
Job Title: Senior Actuarial / Risk Consultant — Insurance Modelling & Validation
Location: Based in India; long-term deployment to the GCC region (up to 12 months) will be required
Experience: 5–6 years in insurance actuarial or risk functions
Role Overview
You will work across a range of insurance advisory engagements covering capital modelling, model validation, regulatory compliance, and risk assessment. The role involves building, reviewing, and challenging internal models used by insurers and reinsurers, producing independent assessments of capital adequacy, and advising clients on model governance and best practices. You will also contribute to knowledge transfer and capability-building with client teams.
Key Responsibilities
- Build, review, and independently re-benchmark insurance capital models across life, non-life, and composite portfolios.
- Assess the appropriateness of model design, assumptions, calibrations, and outputs — including stress factors, Economic Scenario Generators, catastrophe models, and dependency structures.
- Perform independent capital adequacy calculations and compare against company submissions, identifying deviations and root causes.
- Evaluate model governance frameworks, documentation quality, validation processes, and data integrity.
- Conduct structured interviews and technical walkthroughs with client actuarial and risk teams to probe model choices.
- Prepare clear written reports — gap analyses, observation logs, and recommendation papers — suitable for regulatory and board-level audiences.
- Support reserving reviews, IFRS 17 risk adjustment work, and pricing model assessments as needed across engagements.
- Deliver training sessions and on-the-job coaching to client actuarial staff on modelling tools, stress testing techniques, and results interpretation.
Mandatory Requirements
- Student member of the Institute of Actuaries of India (IAI) with the following papers cleared as a minimum:
CM1 — Actuarial Mathematics for Modelling
CM2 — Financial Engineering and Loss Reserving
CS1 — Actuarial Statistics
CS2 — Risk Modelling and Survival Analysis
CB1 — Business Finance
CP1 — Actuarial Practice
- 5–6 years of experience in insurance capital modelling, reserving, pricing, or enterprise risk management within an insurer, reinsurer, or consulting firm.
- Working knowledge of at least one risk-based solvency regime such as Solvency II, or an equivalent risk-based capital framework.
- Hands-on experience with and modelling capability in Python, R, or MATLAB. Experience with capital modelling or actuarial software — e.g. ReMetrica, Igloo, Tyche, Prophet, MoSes, or similar stochastic platforms will be useful.
- Solid understanding of insurance risk categories: underwriting (life and non-life), market, credit, and operational risk.
- Experience with stress and scenario testing, tail-event calibration, and sensitivity analysis.
- Ability to produce structured, well-evidenced written deliverables for technical and non-technical audiences.
- Proficiency in Excel and at least one programming or scripting language (R, Python, VBA, or SQL).
- Valid passport and willingness to be deployed on-site in the GCC region for extended periods (up to 12 months).
Preferred Requirements
- Additional IAI papers cleared, particularly any Specialist Principles papers such as SP7 (General Insurance — Reserving and Capital Modelling) or SP2 (Life Insurance).
- Prior experience in a Big 4 firm, specialist actuarial consultancy, or regulatory/supervisory body.
- Exposure to internal model review or approval processes under Solvency II or similar regimes.
- Experience with catastrophe modelling platforms (RMS, AIR, or similar).
- Familiarity with copula-based dependency structures, diversification benefit calculations, and correlation calibration.
- Knowledge of IFRS 17 and its interaction with capital adequacy and risk adjustment.
- Track record of delivering training or capability-building programmes to client teams.
- Previous work experience in the GCC region or familiarity with Middle East and North Africa insurance markets.
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