Manager (Actuarial Modelling)

2 weeks ago

Noida, India HCLTech Full time

Domain: UK Life Insurance (GGY AXIS/Mo.Net Modelling)

Location: Noida/ Hybrid

Actuarial modelling experience: 7+ years


Purpose of the role:


  • To model in GGY (Moody) AXIS and/or Mo.Net
  • To work in the Actuarial Team engaged in supporting manual 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.
  • To drive process improvements in the team


Key tasks and responsibilities

  • Set up models right from the scratch in software GGY (Moody) AXIS/Mo. Net
  • Identify complex problems, find innovate solutions and translate this into software solutions within the modelling platform.
  • Migration of models from legacy software to above software
  • Cross check cashflows from migrated software and match with the last published figures
  • Individual and block testing
  • Identify the differences and amend the model to fix it.
  • Document the entire process of modelling.
  • Present product wise report to SMT
  • Lead and coach juniors on modelling.
  • Develop and communicate actuarial best practice (setting up models, governance, analysis, testing, documentation etc.) including reviewing and challenging work of team members.

Other tasks –

  • 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 minimize 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 utilized 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 utilized / updated as necessary.
  • To adhere to all HCL policies and procedures


Person Specification


Education/Qualifications/Training

  • Graduation in Actuarial Science
  • Actuarial exam/s passed from IAI/IFOA/SOA etc.
  • BSC/MSC Actuarial Science or BSC Mathematical or Financial subject


Specific Job 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.
  • Workforce planning knowledge
  • Understanding of Actuarial Processes and procedures

Experience

  • At Programming experience (especially VB or VBA)
  • Experience with Structured Query Language (SQL)
  • Actuarial Analysis experience within Life insurance sector
  • At least 7 years of experience of modelling Life insurance product in GGY AXIS/Mo Net/any actuarial software
  • Experience of working within an outsourcing environment
  • Team collaboration

Core Competencies (HCL Standards)

  • Strategic Commercial Awareness
  • Change & Innovation
  • The need to work in a regulatory environment.
  • Delivering Excellence
  • Team player
  • Candidates with actuarial pricing modelling experience would be preferred.

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