Urgent Hiring For Actuary Role
- Deloitte
- 7 - 12 years
- Noida, Gurugram
- 3 months ago
- Email to a friend
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Job Description
Your potential, unleashed.India's impact on the global economy has increased at an exponential rate and Deloitte presents
an opportunity to unleash and realise your potential amongst cutting edge leaders, and
organisations shaping the future of the region, and indeed, the world beyond.At Deloitte, your whole self to work, every day. Combine that with our drive to propel with purpose
and you have the perfect playground to collaborate, innovate, grow, and make an impact that
matters.The team
FIRR Team is about much more than just the numbers. Its about attesting to accomplishments
and challenges and helping to assure strong foundations for future aspirations. Deloitte exemplifies.
what, how, and why of change so you are always ready to act ahead. Learn more about Risk Advisory R & LSYour work profileAs a M/AD in our FIRR Team you all build and nurture positive working relationships with
teams and clients with the intention to exceed client expectations: -
Work you all do
We are seeking an experienced Senior Actuary to join our Actuarial team, specializing in life insurance modelling, asset modelling, and valuation for annuity and life products. This role requires expertise in GGY AXIS modelling, VBA automation, IFRS17 implementation, and profit modelling. You will be responsible for leading actuarial model development, ensuring model governance, managing actuarial team activities, and supporting key projects related to life insurance and asset modelling.
- Economic Capital & Risk-Based Capital: Provide support and analysis related to economic capital and risk-based capital requirements. Ensure the integration of economic capital models into the actuarial modelling process and perform sensitivity testing, stress testing, and capital allocation
- MCEV (Market Consistent Embedded Value): Lead MCEV calculations for life insurance products, ensuring that embedded value calculations align with industry standards and reflect the company's business strategy and risk profile. This includes performing stochastic modelling and integrating market assumptions
- Valuation & Reserve Analysis: Perform valuation for life insurance products under various standards, including Bermuda EBS, SFS, SA & SBA methods. Prepare and analyze reserve summaries and conduct movement analysis for quarter-on-quarter reserve changes
- IFRS17 Implementation: Lead and support the IFRS17 implementation project. Conduct gap analysis, evaluate vendors for implementation, and assess requirements from a DSP standpoint. Help in drafting proposals for clients and provide cost comparisons for vendor options
- Calculate Technical Provisions, Risk Margin, and Standard Formula SCR in line with Solvency II and BMA requirements for start-up specialty (re)insurers and Lloyds syndicates
- Lead and contribute to PRA (Prudential Regulatory Authority) submissions and Quantitative Impact Studies to support the regulatory review of Solvency II
- Model Governance & Risk Management: Ensure model governance practices are followed for life insurance models, including compliance with regulations such as CFT/PBR/ALM. Lead model enhancements, addressing assumptions loading, scenario setups, sensitivities, and ad-hoc requirements
- GGY AXIS Modelling & Life Insurance Products: Develop, enhance, and maintain actuarial models for life insurance products (annuities, life insurance policies). This includes profit modelling, cash flow testing, and scenario modelling using GGY AXIS
- Par Business Management: Oversee the modelling and management of par (participating) business, including maintaining appropriate policyholder dividend strategies, assessing the impact of asset-liability matching, and ensuring compliance with regulatory requirements related to par business
- Client Interaction & Proposal Drafting: Assist in drafting client proposals, evaluating technical solutions, and presenting actuarial findings to clients. Provide advisory services regarding actuarial modelling and regulatory compliance
- Collaboration: Work closely with teams in Liability, QA, Production, and ALM to provide ongoing support and troubleshooting for GGY AXIS queries and other actuarial requirements
Skills:
- Familiarity with IFRS17 and Solvency II regulations is essential.
- Experience in Economic Capital & Risk-Based Capital
- Working experience of MCEV calculation is plus
- Exposure in Global insurance firm
- Experience in scenario modelling and deterministic/stochastic approaches for asset and liability modelling
- Modelling Skills: In-depth experience in life insurance modelling, profit testing, asset-liability management (ALM), and cash flow testing
- Problem-Solving & Analytical Skills: Strong analytical and problem-solving skills with the ability to apply actuarial techniques to complex financial data and models
- Communication: Excellent verbal and written communication skills with the ability to present complex actuarial concepts to both technical and non-technical stakeholders
- Project Management: Ability to manage multiple projects, prioritize effectively, and meet deadlines. Experience leading actuarial teams and projects is a plus
- Strong quant knowledge
- Experience with Excel, SQL, and other actuarial/statistical software
- Coding preferred: VBA ,R / Python
- 7 to 15 years of experience in core insurance / actuarial roles
Desired qualifications
- M bachelors degree in actuarial science, Mathematics, Economics, or related fields.
- Actuarial exams passed
Location and way of working
Base location: Bangalore/Gurgaon/Kolkata
This profile involves occasional travelling to client locations OR this profile does not involve extensive travel for work.
Hybrid is our default way of working. Each domain has customized the hybrid approach to their unique needs.Your role
We expect our people to embrace and live our purpose by challenging themselves to identify.
issues that are most important for our clients, our people, and for society.Risk Advisory/ FIRR R & LS | Actuary
In addition to living our purpose, Employee across our organization must strive to be:
- Inspiring - Leading with integrity to build inclusion and motivation
Committed to creating purpose - Creating a sense of vision and purpose
Agile - Achieving high-quality results through collaboration and Team unity
Skilled at building diverse capability - Developing diverse capabilities for the future
Persuasive / Influencing - Persuading and influencing stakeholders
Collaborating - Partnering to build new solutions
Delivering value - Showing commercial acumen
Committed to expanding business - Leveraging new business opportunities
Analytical Acumen - Leveraging data to recommend impactful approach and solutions
through the power of analysis and visualization
Effective communication Must be well abled to have well-structured and well-articulated
conversations to achieve win-win possibilities
Engagement Management / Delivery Excellence - Effectively managing engagement(s) to
ensure timely and proactive execution as well as course correction for
the success of engagement(s)
Managing change - Responding to changing environment with resilience
Managing Quality & Risk - Delivering high quality results and mitigating risks with utmost
integrity and precision
Strategic Thinking & Problem Solving - Applying strategic mindset to solve business issue and complex problems
Tech Savvy - Leveraging ethical technology practices to deliver high impact for clients and
for Deloitte
Empathetic leadership and inclusivity - creating a safe and thriving environment where everyone's valued for who they are, use empathy to understand others to adapt our
behaviors and attitudes to become more inclusive.How you ll growConnect for impact
Our exceptional team of professionals across the globe are solving some of the world's most
complex business problems, as well as directly supporting our communities, the planet, and each
other. Know more in our Global Impact Report and our India Impact Report.Empower to lead
You can be a leader irrespective of your career level. Our colleagues are characterised by their
ability to inspire, support, and provide opportunities for people to deliver their best and grow both
as professionals and human beings. Know more about Deloitte and our One Young World
partnership.Inclusion for all
At Deloitte, people are valued and respected for who they are and are trusted to add value to their
clients, teams and communities in a way that reflects their own unique capabilities. Know more
about everyday steps that you can take to be more inclusive. At Deloitte, we believe in the unique
skills, attitude and potential each and every one of us brings to the table to make an impact that
matters.Drive your careerRisk Advisory/ FIRR R & LS | ActuaryAt Deloitte, you are encouraged to take ownership of your career. We recognise there is no one
size fits all career path, and global, cross-business mobility and up / re-skilling are all within the
range of possibilities to shape a unique and fulfilling career. Know more about Life at Deloitte.
Everyone's welcome entrust your happiness to us
Our workspaces and initiatives are geared towards your 360-degree happiness. This includes
specific needs you may have in terms of accessibility, flexibility, safety and security, and
caregiving. Here is a glimpse of things that are in store for you.
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comfortable. To help you with your interview, we suggest that you do your research, know some
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Job Classification
Industry: Management ConsultingFunctional Area / Department: BFSI, Investments & TradingRole Category: Life InsuranceRole: Actuarial AnalystEmployement Type: Full timeContact Details:
Company: DeloitteLocation(s): Noida, Gurugram
Keyskills: Life Insurance Economic Capital Solvency II Embedded Value Actuarial Risk based Capital Valuation & Reserve Analysis IFRS17 GGY AXIS Modelling Prophet
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