Actuary – Valuation/Pricing

4) Principal Accountabilities

Oversee and Perform calculations in Periodic Valuation/new projects

1. Ensure that the required data is available for monthly valuation in time in required format.
2. Processing of information using reasonable knowledge of actuarial principles and methods.
3. Plan, direct and perform various computations using models
4. Modifying models as required with appropriate documentation
5. Run complex models independently

Compile and analyse results for Periodic Valuation/new projects

1. Analysing results
2. Ensuring appropriate checking of results
3. Recommending changes required based on checks
4. Performing cause-effect analysis to check reasonability

Responses to queries

1. Resolving simple queries
2. Effectively helping other teams understand the results
3. Understand, explain / overcome implication of results and limitations of models
4. Identify relationships and interactions among data to create information
5. Participating effectively in the discussions and discussing moderately complex technical information in lay or business terms as per requirement

Compile and analyse results for Experience Analysis

1. Compile Results of various experience analysis
2. Analyse the trends and steps to be taken to control deterioration of some of the rates.

Reporting

1. Drafting sections allocated of yearly reporting to IRDA,
2. Drafting sections allocated of quarterly reports to Board such as Solvency Report, FCR etc
3. Assisting other teams with drafting their sections of reporting (if required).

Ensure correctness of various D returns prepared by Juniors

Managing the team on a task by task basis

1. Plan and direct execution of a project with guidance
2. Guide junior members on running simpler models
3. Clarify work objectives and deliverables to ensure a clear understanding of business requirements
4. Set priorities for tasks in order of importance
5. Ensure objectives are set and agreed on and projects are delivered within negotiated tolerances
6. Make sound decisions about how best to do work so that it has the greatest business benefit with some supervision
7. Set personal and team goals and monitor their attainment
8. Provide inputs to performance review of junior staff

Data correctness

1. Recommending the fields required for raising requirements for data for new products, and then testing the data for accuracy, OR
2. Performing data validations for existing business, including recommending new fields to be tested, and modifying the queries for existing fields / products and for new products.