Assistant Manager
6 months ago
Job Description
Job Title
Assistant Manager
Grade
2C
Level
Experienced
Manager/ Individual Contributor
Individual Contributor
Job Function
Actuarial
Job Sub Function
Risk Modelling/Calibration
Reports to
Lead
Location
Mumbai
Business Area
M&G Global Services
Overall Job Purpose
Individual would be part of the Risk Modelling team in Mumbai.
Risk modelling team is responsible for setting out a description of the model, methodology and proposed calibration assumptions for corporate credit spread, fundamental spread (FS) and counterparty (CP) default for the purpose of M&G plc’s Solvency II reporting as at year end.
As an Assistant Manager the person is accountable and responsible for the risks calibration of Credit risks (Corporate Credit, Fundamental Spread and Counterparty default risks). The person would act as necessary support to the risk modelling team by carrying the tasks for calibration process with an acceptable standard of quality and within agreed timelines.
Primary Key Responsibilities (Top 3-5 KRA)
Supporting the annual calibration, working through the data analysis and updating result documents Support the development and enhancement of Matlab, Python and R based calibration models used within M&G Developing, calibrating and implementing new or enhanced risk models for use in Solvency II Respond to technical queries, both internal and from model validation team Accountability of BAU and Major Model Change (MMC) calibration timelines Gain knowledge of internal capital model, risk modelling framework and subsequently guide the team members Performing a checker role on the work of junior colleagues thereby supporting their learning and developmentAdditional Responsibilities :
Maintain and develop knowledge of technical requirements of 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 relationshipsKey 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 frameworksExperience:
3-5 years of relevant Actuarial experience Past experience of working on risk calibration is an added advantageEducational 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 PolicyM&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
We live by four behaviours at M&G Global Services and we ask all our employees to:
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 outcomes, set high standards and deliver with energy and determination Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things-
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