Actuarial Risk Modelling Assistant

1 month ago

Mumbai, Maharashtra, India M&G Full time

Job Title: Assistant Manager

Job Summary:

We are seeking an experienced Actuarial Risk Modelling Assistant to join our team in Mumbai. The successful candidate will be responsible for supporting the annual calibration process, working through data analysis, and updating result documents. Additionally, they will support the development and enhancement of Matlab, Python, and R-based calibration models used within M&G.

Key Responsibilities:

  • Support the annual calibration process, working through data analysis and updating result documents.
  • Support the development and enhancement of Matlab, Python, and R-based calibration models used within M&G.
  • Develop, calibrate, and implement new or enhanced risk models for use in Solvency II.
  • Respond to technical queries, both internal and from model validation teams.
  • Accountability of BAU and Major Model Change (MMC) calibration timelines.
  • Gain knowledge of internal capital model, risk modelling framework, and subsequently guide team members.
  • Perform a checker role on the work of junior colleagues, thereby supporting their learning and development.

Additional Responsibilities:

  • Maintain and develop knowledge of technical requirements of the job together with the framework in which M&G India operates.
  • Seek and act on opportunities to develop wider and deeper technical and business understanding.
  • Ability to develop clear, workable plans for self, monitor progress, ensure deadlines and commitments are met.
  • Ability to confidently express own viewpoint and to clearly and simply communicate actuarial issues within their team.
  • 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.
  • Performance Management – follow and contribute to the recognised Performance Management process.
  • Ability to plan and prioritise own workload.
  • Ability to deliver on multiple tasks to demanding timescales.
  • Communicate effectively with others, develop positive networks and working relationships.

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):

  • Excellent understanding of statistics and statistical methods.
  • Ability to understand and be able to communicate complex technical problems from several angles.
  • Demonstrable experience of problem solving and providing practical solutions to complex problems.
  • Good technical actuarial knowledge, with attention to detail.
  • Basic Knowledge of VBA, Python is required.

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.
  • Commercial aptitude and the ability to consider the impact of decisions.
  • Clear knowledge of new developments in actuarial field and the impact on own work.
  • Knowledge of financial services regulatory and legislative frameworks.

Experience:

  • 3-5 years of relevant Actuarial experience.
  • Past experience of working on risk calibration is an added advantage.

Educational Qualification:

  • A student member of the Institute or Faculty of Actuaries and/or Indian Institute of Actuaries with at least 7 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.

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