15h Left: Chief Manager

Chief Manager - Insurance Products & Actuarial (Pune)

We are seeking a highly experienced and strategic Chief Manager to join a leading financial services organization in Pune. This pivotal role will be instrumental in supporting senior leadership on critical aspects of our insurance business, with a particular focus on life insurance and select responsibilities within general insurance actuarial functions.

About the Role

As Chief Manager, you will play a key role in driving product profitability, actuarial and reserving strategies, technical risk management, and underwriting excellence. You will also be responsible for researching global best practices in capital optimization and reserving management to ensure our frameworks are cutting-edge and compliant within the Indian regulatory landscape. This role offers a unique opportunity to shape the future of insurance offerings and financial stability.

Key Responsibilities

- Products & Profitability:
- Evaluate and enhance existing product and pricing strategies, processes, and performance methodologies.
- Develop and refine frameworks for comprehensive product management, from launch through closure, including technical documentation, profitability projections, and breakeven analysis.
- Risk & Actuarial:
- Review and update reserving methodologies to align with global best practices.
- Monitor reserve booking and management, assumption setting, and true-up processes.
- Conduct in-depth research on global reserving best practices, including assumption setting, credibility factors, and governance around assumption management.
- Assess and improve the technical risk management framework and processes, including the risk appetite framework.
- Analyze the risk capital framework, focusing on long-term returns and the relationship between return on capital and return on equity.
- Underwriting:
- Evaluate the current underwriting framework.
- Develop multi-product pricing and underwriting frameworks, including rider attachments.
- Perform detailed analysis of reinsurance treaties, processes for obtaining new treaties, and the accounting and operations of reinsurance management.
- Capital Solutions:
- Identify drivers for product/fund capital consumption and benchmark against market peers in India.
- Propose potential levers to achieve market-leading returns on capital.
- Research innovative global capital optimization solutions and formulate proposals for applicable and permissible solutions within the Indian regulatory framework.

Major Challenges

- Gathering comprehensive internal and external data for industry benchmarking (both India and globally).
- Effective stakeholder management across various departments.

Interactions

You will regularly collaborate with internal stakeholders such as Heads of Products, Technical Risk, Underwriting, and FP&A. External interactions will include engaging with consultants specializing in risk management software.

Qualifications

- Educational Qualifications:
- Minimum Bachelor of Commerce degree.
- Actively progressing towards becoming a qualified insurance actuary, with most exams completed.
- Additional qualifications in accounting and/or management are a plus.
- Experience:
- 8+ years of relevant experience.
- Mandatory experience in the Life Insurance Industry.
- Prior experience in life insurance capital management is preferred.
- General insurance actuarial experience is a plus.

What We Offer

- A challenging and rewarding role within a leading organization.
- Significant opportunities for professional growth and development.
- A collaborative and dynamic work environment in Pune.

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