1OP739-Actuarial Analyst
1 month ago
Our diversified service offerings extending from Digital Services (Digital Engineering, AI, Advanced Analytics, RPA, and BI & Insights), Business Transformation, Management Consulting & Strategy, Finance, Actuarial, Quants, Research, Information Technology, Customer Service, Risk & Compliance and Audit provide our people with exciting career growth opportunities.
Job Description
Job Title
Analyst - Actuarial
Grade
1A
Level
Analyst
Manager/ Individual Contributor
Individual Contributor
Job Function
Actuarial
Job Sub Function
Risk Modelling/Calibration
Reports to
Lead
Location
Mumbai
Business Area
M&G Global Services
Overall Job Purpose
Individual would be part of the Risk Modelling team in Mumbai.
Risk modelling team is responsible for setting out a description of the model, methodology and proposed calibration assumptions for corporate credit spread, fundamental spread (FS) and counterparty (CP) default for the purpose of M&G plc's Solvency II reporting as at year end.
As an analyst the person will be required to work under the direction of senior team members. The job involves carrying out the tasks for calibration process and to meet the deliverables with an acceptable standard of quality and within agreed timelines.
Primary Key Responsibilities (Top 3-5 KRA)
- Support in annual calibration, working through the data analysis, expert judgements and updating documents
- To support the team in developing, calibrating and implementing new or enhanced risk models to be used in Solvency II regime
- To support the analysis and investigation on technical queries, both internal and from model validation team
- Gain knowledge of internal capital model and risk modelling framework
- To develop and enhance the calibration models used within M&G
- To support the team member for analysis on Credit Major Model Change
Additional Responsibilities :
- Seek and act on opportunities to develop wider and deeper technical and business understanding.
- To proactively research and implement improvements to the modelling process, including the use of statistical analyses, automation and development of unstructured data.
- Compliance - Ensure understanding and adherence to M&G Global Services' Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements.
- Under supervision, develop clear, workable plans for self, monitor progress, ensure deadlines and commitments are met
- Performance Management - follow and contribute to the recognised Performance Management process.
- Ability to deliver on multiple tasks to demanding timescales
- To support team members in a range of project work as and when required
Key Stakeholder Management
Internal
M&G India Team manager
UK Team manager
Other senior stakeholders
External
N/A
Knowledge, Skills, Experience & Educational Qualification
Knowledge & Skills (Must Have) :
- Confidence & communicate effectively with others, develop positive networks and working relationships
- Desire to develop a strong technical coding ability ( e.g. VBA coding, Python, R and MATLAB)
- Document and communicate technical concepts in a way that is clear and concise
- Excellent understanding of Statistics and statistical models
- Good MS Excel and MS knowledge
- Good understanding of market and credit risk modelling
Knowledge & Skills (Additional) :
- Knowledge of the business and/ or Solvency II and/ or IFRS financial reporting experience would be an advantage, however on-the-job training will be provided to successful candidate.
- Strong self-checking of individual work
Experience:
- 1-2 years of relevant Actuarial experience
- Past experience of working on risk calibration is an added advantage
Educational Qualification:
- A student member of Institute of Faculty of Actuaries and/or Indian Institute of Actuaries with at least 3-4 exams
- Actively studying for and making satisfactory progress with the Institute/ Faculty exams as defined in the Mumbai Actuarial Study support Policy
M&G Behaviours relevant to all roles:
Inspire Others: support and encourage each other, creating an environment where everyone can contribute and succeed
Embrace Change: be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
Deliver Results: focus on performance, set high standards and deliver with energy and determination
Keep it simple: cut through complexity, keep the outcome in mind, keeping your approach simple and adapting your message to every audience
We live by four behaviours at M&G Global Services and we ask all our employees to:
- Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
- Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
- Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
- Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things
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