Actuarial - Group Pricing - AVP - L6 - Mumbai (Intellion Square - HO)

1 day ago

Mumbai, Maharashtra, India kotak mahindra bank, Full time ₹ 6,00,000 - ₹ 18,00,000 per year
Job Description

JOB DESCRIPTION POSITION

Chief Manager/AVP Group Pricing

DESIGNATION

Chief Manager/AVP

POSITION CODE POSITION GRADE

L5/L6 depending on experience

DEPARTMENT

Actuarial

SUB DEPARTMENT

Group Pricing Credit Life

REPORTING POSITION

Sr. Vice President

OBJECTIVE OF THE ROLE

The ideal candidate will have a strong background in pricing group life insurance products (term, credit life, etc.), excellent analytical and stakeholder management skills, and experience leading a team. The role involves pricing, reinsurance negotiation, model development, and collaboration with sales, underwriting, and finance functions.

KEY RESPONSIBILITIES Weightage

  • Team Management:

    • Lead and manage a team involved in group pricing.
    • Ensure timely and accurate delivery of pricing and actuarial support to internal stakeholders.

  • Business Support:

    • Collaborate with Sales, Underwriting, Claims, and Product teams to design competitive and profitable group solutions.
    • Participate in client discussions for large group deals, offering actuarial insights and negotiation support.
    • Work closely with the Reinsurance team to structure optimal reinsurance arrangements.

  • Quotation:

    • Review client-specific quotations and proposals.
    • Ensure profitability and sustainability of group business by monitoring margins and adherence to underwriting standards.

  • Profitability & Reporting:

    • Provide regular MIS on pricing activity, quote-to-sale conversion, profitability trends, and key business metrics.
    • Present findings and insights to senior management.

    Total Weightage: 100 PERCENT

INTERACTIONS
  • Internal Relations: Sales, U/W, group operations
  • External Relations: Reinsurer
REQUIRED QUALIFICATION AND SKILLS
  • Educational Qualifications: Graduate/ Post Graduate in statistics/ commerce/ science
  • Work Experience: 8-10 years
  • Certifications: Candidate pursuing actuarial exams preferred, though not must. Ideally, the candidate should have prior experience in Credit Life Quotations/Profitability/Experience analysis.
  • Behavioral Competencies:
    • Excellent communication and stakeholder management skills.
    • Strong team management abilities.
    • Ability to manage deadlines and work under pressure.
    • Commercial acumen and customer-centric approach.
Locations

KLI - Mumbai - Intellion Square - HO, Mumbai, Maharashtra, India

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