Senior Manager- Actuarial
4 weeks ago
About Max Life Insurance:
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.
Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.
For more information, please visit the Company's website at
Know more about our Actuarial Team, visit our LinkedIn page at MaxLife
We Stand for:
Caring
A compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.
Collaboration
A boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization’s ask. A leader who addresses challenges with a solution oriented approach to create “win-win” partnerships within & outside teams through inspired cooperation and teamwork.
Customer Obession
A leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.
Growth Mindset
An ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.
People Leadership
A people’s leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes.
"Max Life Insurance is an Equal Opportunity Employer and promotes inclusion and diversity."
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Key Responsibilities :
- Responsible for quarterly and annual IRDAI submissions pertaining to ARA, AAAR, actuarial Forms submissions etc.
- Handling and Managing queries from Peer Reviewer, Statutory Auditor and IRDAI on sufficiency of reserves and solvency position.
- Responsible for setting economic and expense assumptions to be used in valuation.
- Justify movements in monthly reserves two finance and supervisor compared to the movement expected as per Business Plan.
- Review of methodology followed for global reserves and their management.
- Asset Share roll forward on monthly basis to manage profitability and reserves in Participating business.
- Ownership of DCS tool and valuation data.
- Support in improvements of existing valuation process.
- Reporting of IND AS 104 consistent numbers for consolidation purposes with parent company.
- Assist supervisor in review of various processes and deliverables.
- Support in timely delivery of any other ad-hoc regulatory reporting/requirements.
- Perform other responsibilities and duties assigned by supervisor.
- Participate actively on cross-functional / operational task forces.
Primary Interactions:-
Internal – Investment, Finance, Other Actuarial and Risk team
Measure of Success :
- Ability to work with minimum supervision and problem solving ability.
- Completion of tasks on time and at desired standards.
- Demonstrate ability to take up and deliver new projects
- Accuracy of results and comprehensiveness of the models and reports.
- Planning before implementing and proper documentation of the work done.
Skills :
- Experience of statutory valuation / reporting experience shall be preferred.
- Problem solving and decision making skill.
- Good understanding of Actuarial concepts and various Actuarial deliverables
- Good knowledge of Prophet, MS Excel, VBA
- Good communication and analytical skills
Essential qualifications and experience:
Qualification
- Graduation/ Post Graduation with mathematics/statistics or any subject with sizeable mathematical content
- Good progress on actuarial exams.
Experience
- Relevant work experience of 6 years in life insurance actuarial domain.
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