Website:
generalicentrallife.com
Job details:
Job Location - Mumbai (Vikhroli)
Key responsibilities
Asset Liability Management
- Framing and implementing effective ALM strategy
- Ensure regular monitoring and establishing process and governance around duration gap, cash flow gap; assess exposure to interest rate risk, reinvestment risks and liquidity risks.
- Engage with Finance/Investment teams to align asset strategies with liability profiles
- Taking care of all Shareholder and Regulatory reporting requirements, queries etc
- Support Investment team on preliminary SAA and Final SAA submissions to GHO
- Support in ad hoc reports as and when required by GARO/GHO
IND AS implementation and RBC framework
- Laying down IND AS reporting framework for the company
- Ensuring fulfillment of all regulatory requirement
- Liaise closely with Finance team for perfoma preparation
- Closer of all audit requirement
- Reconciliation of numbers with IGGAP reports and Group submissions
- In parallel setting up RBC process basis QIS studies
- Projections of RBC with IND AS to assess the future capital and solvency position
- Setting up internal model and framework for optimizing capital under RBC regime
Other area of work and support includes, but not limited to –
- Experience studies – claim and mortality
- Identify emerging trends and provide actuarial insights to relevant stakeholders for assumption setting and pricing
- Collaborate with Underwriting and Claims team to investigate deviations or shifts in claims experience.
- Prophet Modelling - Develop and enhance actuarial models used for various reporting such as statutory, IFRS17, SII, IND AS, RBC etc.
- Overseeing modelling work and ensuring model governance and control frameworks, maintaining documentation in line with internal SOPs and audit
Managerial responsibilities
- Support provided to junior staff to ensure that they develop both technical and soft skills.
- Ensure outputs of the team are well understood so that they can be used in the appropriate manner, in particular to ensure that business discussions and decisions take into account their impact.
- Effective communications of the output to all concerned stakeholders.
Operational Effectiveness & Control
- Ensure controls are in place as required by Internal Compliance, internal audit and Risk Teams/IRDA and foster a culture of compliance.
- Reduction in timescales for carrying out tasks without compromising on quality.
- Ensure regulatory guidelines are adhered in all internal processes and submissions to the regulator and other external stakeholders
- Ensure all activities are carried out in a controlled manner with the necessary documentation thereby ensuring that no high-risk points are raised in internal/external audits.
- Assist in identifying areas of process improvements and carrying out the necessary changes, with the objective of improving quality and efficiency in the team.
Qualifications :Qualified actuary
Experience:12-15 years
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