Senior Actuarial Model Developer

1 week ago

Mumbai, Maharashtra, India beBeeActuary Full time ₹ 2,50,00,000 - ₹ 3,50,00,000
Job Description

The primary actuarial model developer for a leading organization is responsible for leading and delivering various quarterly model changes. This role involves independent testing, impact quantification, detailed documentation, and communication with wider teams.

  • Lead and deliver various quarterly model changes like assumption updates, new business setup, and improving model efficiency.
  • Perform independent testing and impact quantification and justification.
  • Detailed documentation and communication regarding model changes with wider teams.
  • Review work done by junior members, ensuring quality of work product during time-sensitive deadlines.
  • Maintain strong stakeholder/client relationships.
  • Primary touchpoint for testing, valuation, and risk management teams for support on business and model-related queries.
Required Skills and Qualifications

Our ideal candidate will have the following skills and qualifications:

  • Bachelor's degree in actuarial science, mathematics, statistics, engineering, or computer science.
  • Total 8-10 years of experience in US life insurance with minimum 4-6 years of life/annuity actuarial modeling.
  • 8-10 actuarial papers - ideal requirement.
  • Good knowledge of US life insurance and specifically variable annuity products (fixed-indexed annuities, guaranteed minimum income/death/withdrawal benefits, indexed-linked annuities, group annuities, payouts).
  • Excellent technical knowledge of US STAT/GAAP regulations (PBR, NY DFS Reg 213, LDTI DAC).
  • Expertise in actuarial modeling - Moody's AXIS (such as handling scenarios, formula tables, application of overrides, awareness of significant switches in reserving assumption sets).
  • Understanding of calculation of AXIS cashflows and reserves on a first-principle basis.
  • Excellent coding and troubleshooting skills in GGY AXIS modelling software.
  • Knowledge of hedging, asset liability modelling, and derivatives in Moody's AXIS is an added skillset.
  • Good working knowledge of relevant actuarial concepts and methodologies.
  • Strong analytical ability and ability to drive various process and analytical improvement initiatives within the team.
  • Excellent communication, execution, and people management skills.
Benefits

Our organization offers a dynamic work environment with opportunities for growth and development.

Others

This role requires strong analytical skills, excellent communication skills, and the ability to drive process improvements.

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