Manager (Actuarial Modelling)

4 weeks ago

uttar pradesh, 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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