Freelancer for Actuarial Valuation and Reporting - Tata AIA Life Insurance -- 2

Project Area

A selection of activities from the list below:

• Calculate liabilities of product benefits designed by the Pricing team

• Ensures the product’s liabilities are in line with the pricing calculated for product

• Reviews the valuation assumptions and gets an approval from the Appointed Actuary

• Calculation and project the reserves/BEL using different assumptions and prepare the summary for the AA

• Assist the AA to decide on the parameters to be used for the Statutory/MC valuation based on these calculations

• Preparing and checking the correctness of the Solvency position at the end of each month.

• Prepare an estimate on the capital required to ensure solvency

• Update the Appointed Actuary and the Management about the position for them to take necessary action

• Estimate the supportable bonus to the policyholders for the next FY

• Project the cost of Bonus allocation

• Ensure the bonus is put in the system correctly in time.

• Prepare the abstract and report as required

• Verify them for correctness

• Liaison with F&A to ensure the preparation of valuation report is in consistent with Audited Financials

• Ensure all the recommended GN/APS are followed in the valuation

• Submit within the stipulated time

• As a part of year end statutory report prepare Asset, Liability Matching report

• Prepare Analysis of Profit to see how the profit/loss emerged over the last FY

• Prepares the Financial Conditions report to appraise senior management about the risks run by the company


Essential - Graduate/ Post Graduate in Mathematics/ Statistics

Desired - Knowledge of PROPHET


Essential - 3-4 years experience in life insurance industry

Desired - 1-2 years experience in Private life insurance company

Key Project Deliverables

1. Calculation of Liabilities

2. Perform sensitivity run on future actuarial assumptions

3. Monitoring the Solvency position and update the Management as necessary

4. Recommendation of Bonus to policyholders

5. Preparation of Statutory valuation abstract and report

6. Preparation of ALM, Analysis of Profit reports

7. Hire and train new Actuarial Executives

8. Verification of Monthly Operating Statement (MOS)

9. Updating Prophet and DCS software

10. Risk

Skills: Valuation & Appraisal, Risk Management

About the Employer:
( 0 reviews ) Bengaluru, India

Project ID: #31811768