DVP - Actuarial Statutory Valuation and Assumption Setting

1 month ago

Gurugram, India Canara HSBC Life Insurance Full time

This role will be responsible for carrying out the regular reporting to IRDA, shareholders and Institute of Actuaries of India; production of the statutory valuation of liabilities as at year end; monthly valuation of liabilities for internal management and shareholders, the production of annual actuarial returns for IRDA and conducting the review of the actuarial assumptions including the approval for these assumptions from HSBC regional office. In addition, this role includes supporting the peer reviewer in carrying out the peer review of the year end results; preparing response of queries from the onsite and offsite inspection teams of IRDA; supporting the other external and internal audits relating the actuarial reporting such as CAG, GIA etc. This role will also be responsible for providing support in the transition of all financial reporting of the Company from the current Indian GAAP to IFRS 17 as required by the Regulations over the next few years with the help of external consultants.

This role will also be responsible for analyzing the monthly profits and providing the relevant insights to Finance as well as Management. This role will also be required for calculating quarterly solvency ratio of the Company and reporting the same to the Regulator.

This role will also be responsible for providing IFRS profits to HSBC on a monthly basis.

This role will also be responsible for evaluating the impact of any regulatory changes on the company’s profitability and solvency position and accordingly get the same modelled into the actuarial valuation models.

This role requires working with limited oversight to a high degree of accuracy with full audit trail and controls being established under time pressure in an environment where processes/methodologies are constantly changing and production of results may be accompanied by significant amount of investigation. It also requires the ability to interact with a range of internal stakeholders (middle management to senior management from other departments such as Finance, Investments, Operations, IT etc.) and external

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