Senior - Actuary

Key Responsibilities

• Support end‑to‑end IFRS 17 implementations including:
  • Model design and validation for GMM, VFA, and PAA
  • Contract grouping and unit of account
  • CSM calculation, release, and analysis
• Interpret IFRS 17 standards and translate them into actuarial and system requirements
• Perform IFRS 17 actuarial calculations using tools such as Prophet, RAFM, Moses, or Axis
• Support dry runs, parallel runs, and post‑go‑live activities
• Prepare and review IFRS 17 disclosures and reconciliations
• Work closely with Finance teams for actuarial–accounting alignment

2. Solvency II (Pillar I, II & III)

• Perform Solvency II valuation of technical provisions (BEL, Risk Margin)
• Support SCR calculations (Standard Formula / Internal Model)
• Assist in Pillar III QRTs, narrative reports, and regulatory submissions
• Ensure consistency between Solvency II, IFRS 17, and local GAAP results
• Document methodologies, assumptions, and governance processes

3. Actuarial Modelling & Systems

• Develop, enhance, and maintain actuarial models for Life insurance products:
  • Participating, Non‑Participating, ULIP, Annuities, Protection
• Model cashflows, assumptions, and economic scenarios
• Improve model efficiency, automation, and robustness
• Support model validation, testing, and audit reviews
• Work with data, IT, and systems teams during model integration

4. IGAAP Valuation & Reporting (India-specific)

• Perform IGAAP actuarial valuations including:
  • Reserve calculations
  • Embedded Value (if applicable)
  • Bonus valuation and policyholder liabilities
• Support statutory reporting and IRDAI regulatory requirements
• Ensure consistency between IGAAP, Solvency II, and IFRS 17 outputs
• Assist in statutory audits and actuarial investigations

5. Stakeholder Management & Documentation

• Liaise with internal stakeholders (Finance, Risk, Product, IT)
• Support external stakeholders (Auditors, Regulators, Consultants)
• Prepare actuarial documentation, methodology papers, and presentations
• Ensure compliance with actuarial standards and governance controls

Required Skills & Qualifications

Educational & Professional

• Bachelor’s/master’s degree in actuarial science, Statistics, Mathematics, or related field
• Progress toward IFoA / IAI / SOA / CAS actuarial qualification (Associate or Fellow preferred)

Technical Skills

• Strong knowledge of:
• IFRS 17
  • Solvency II
  • Life Insurance Products
  • IGAAP actuarial valuation