Lead Actuarial Analyst

1 week ago

Noida, Uttar Pradesh, India HCLTech Full time

HCLTech is a global technology company, home to 219,000+ people across 54 countries, delivering industry-leading capabilities centered around digital, engineering and cloud, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2022 totaled $12.1 billion.

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Job Description

The role holder will work closely with the UK Customer Directorate team (in particular the Actuarial General Manager) who will be for accountable for all work done by the off-shore Actuarial team. The role holder will ensure 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."

Job details

Job Title : Lead Actuarial Analyst

Location: Noida/ Hybrid

Reports to: Deputy Manager

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
  • Do regular performance evaluation.
  • 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 tasks and responsibilities

  • Modelling product calc model right from the scratch in software GGY (Moody) AXIS/Mo. Net
  • Migration of models from legacy software to above software
  • Performing contractual premium review of product block/policies.
  • Repricing following premium review by creating models.
  • Working on Bonus, Expense review, Fund mergers etc projects
  • Delivering accurate and compliant Actuarial calculations support to Operations and external clients to achieve and at times exceed service standards.
  • Ensuring that non-workflow calculation processes are in place (e.g. develop spreadsheets etc).
  • Calculation of both complex lifecycle and non-lifecycle referrals.
  • Provide support for Operations on a wide range of technical actuarial queries.
  • 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, in order 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

Person Specification:

Candidates with actuarial pricing modelling experience would be preferred.

Training: ·

  • Actuarial exam/s passed from IAI/IFOA/SOA etc.

Education/Qualifications:

  • Graduation in Actuarial Science
  • 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 and Pension 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 UK Life & pensions sector
  • At least 3 to 5 years of experience of modelling Life insurance product in GGY AXIS/Mo Net/any 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

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