| Noida, Uttar PradeshChennai, Tamil Nadu
Job Summary
The role holder will work closely with the UK Customer Directorate team (the Actuarial Head) who will be accountable for all work done by the offshore Actuarial team. The role-holder will ensure that the Actuarial Manager has access and information that enables them to oversee all offshore activity, and will ensure that all UK instructions, controls and changes are implemented effectively.
- To work in the Actuarial Team engaged in supporting actuarial calculations for UK Life insurance.
- To Understand Customer needs and provide service as per company’s operational standards, procedures.
- To deliver all services as per specified standards of Quality and Timeliness
- To oversee the day-to-day operation of the Team and performance
- Promote a healthy and motivating work environment and atmosphere.
- Identify training needs and provide coaching.
- Listen to team members’ feedback and resolve any issues or conflicts.
- To drive process improvements in the team
Key Responsibilities
- Create excel models (using VBA, SQL) against client models of legacy software.
- Run all the models points & portfolio to ensure that model output matches with legacy software results.
- Fix the model for deviation.
- Ensure the testing and validation is successful
- Write model spec against each of these legacy software models first.
- Write procedure notes against each of these spreadsheet model developed.
- Performing contractual premium review of product block/policies.
- Repricing following premium review by creating models.
- Working on Bonus, Expense review, Fund mergers etc projects
- Ensure that work is processed as per agreed quality standards for correctness and fairness.
- To ensure that all enquiries are recorded correctly on the Company Systems, for work to be scheduled to the individual and the team and to provide an audit trail.
- To ensure that you are aware of the company complaint and incident identification procedure and that these are acted upon immediately to minimise regulatory breaches, customer/client detriment and business image.
- To ensure that work is processed within industry compliance and legislative requirements under the guidance of the Manager, Analysts and Technicians, ensuring compliance with controls and procedures.
- To undertake any other duties as may be deemed appropriate by your manager.
- Ensure personal and business objectives for self are met in line with the departmental business plan and monitor success.
- To ensure that regulatory and audit requirements are met. To be aware of data security from a customer and business perspective and take responsibility for the prevention of fraudulent activity. Maintaining the data protection ideals of clear desk, secure storage, and secure PC.
- To ensure that the business operating systems utilised are used correctly and professionally.
- Ensure all regular events, including audit activities and actions, are completed / escalated.
- To adhere to local and corporate governance and controls ensuring business operating systems and procedures are utilised / updated as necessary.
- To adhere to all HCL policies and procedures
Skill Requirements
Essential Skills
- Good Knowledge of MS Office (especially Excel)
- Able to demonstrate a good knowledge of the technical aspects of Life insurance products.
- Excellent communication skills – verbal and written.
Desired Skills
- Workforce planning knowledge
- Understanding of Actuarial Processes and procedures
Other Requirements
Essential Qualification
- Graduation in Actuarial Science
- Actuarial exam/s passed from IAI/IFOA/SOA etc.
Desired Qualification
- BSC/MSC Actuarial Science or BSC Mathematical or Financial subject
Essential Qualification
- VBA Programming experience
- Experience with Structured Query Language (SQL)
- Actuarial Analysis experience within Life insurance (and annuity/pension policies) sector
Desired Qualification
- At least 3 to 5 years of actuarial experience of Life insurance
- Experience of GGY AXIS, Prophet would be preferred
- Team collaboration
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