Deputy Manager- Actuarial Services

3 weeks ago

Gurgaon, India Max Life Insurance Company Limited Full time

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

To know more about our Actuarial Team, visit our LinkedIn page at

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 Obsession

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."

Key Responsibilities:

Derivative – Max Life writes and hedges significant amount of interest sensitive product and hence requires resource that can implement/execute the following:

  • Calculation of Notionals for Hedging
  • Preparing required audit trail and documentation surrounding the notional calculations
  • Preparing internal derivative dashboard
  • Support in mechanism to monitor unwind risk
  • Requirement to modify and enhance system to calculate Notionals

ALM – As part of ALM policy, it is required to monitor and control various financial and demographic risk which is reported internally and to the regulator and hence requires resource that can implement/execute the following:

  • Monitor Cash flow position and identify opportunities that optimizes risk and return.
  • Set up and implement required risk monitoring tools
  • Manage and conclude on various task and issues that may arise in various ALM forum
  • Timely and accurate submission of regulatory reports

Skills:

  • Preferred knowledge of DCS and Prophet software
  • Good knowledge of Life Insurance Business
  • Strong analytical, Communication and Documentation skills.

Experience & Qualification: 3-5 years of Acturial experience and more than 5 actuarial exams cleared from IAI or IFoA

Measure of Success:

  • Meeting the TAT defined
  • Accuracy of numbers
  • Insights provided
  • Customer value enhancement
  • In-depth knowledge of FRA mechanism including accounting implications

Skills:

  • Preferred knowledge of DCS and Prophet software
  • Good knowledge of Life Insurance Business
  • Strong analytical, Communication and Documentation skills.
  • Technical actuarial knowledge
  • Excel, word, DCS and prophet knowledge
  • The candidate should actively participate in the assigned work
  • The candidate should be able to add value to the project and help arrive at useful and meaningful results

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