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    Manager (Actuarial Modelling) - Noida, India - HCLTech

    HCLTech
    HCLTech background
    Technology / Internet
    Description

    Domain: UK Life Insurance (GGY AXIS/Mo.Net Modelling)

    Location: Noida/ Hybrid

    Actuarial modelling experience: 7+ years

    Purpose of the role:

    • To model in GGY (Moody) AXIS and/or Mo.Net
    • To work in the Actuarial Team engaged in supporting manual actuarial calculations for UK Life insurance.
    • To Understand Customer needs and provide service as per company's operational standards, procedures.
    • To deliver all services as per specified standards of Quality and Timeliness
    • To oversee the day-to-day operation of the Team and performance
    • Promote a healthy and motivating work environment and atmosphere.
    • Identify training needs and provide coaching.
    • To drive process improvements in the team

    Key tasks and responsibilities

    • Set up models right from the scratch in software GGY (Moody) AXIS/Mo. Net
    • Identify complex problems, find innovate solutions and translate this into software solutions within the modelling platform.
    • Migration of models from legacy software to above software
    • Cross check cashflows from migrated software and match with the last published figures
    • Individual and block testing
    • Identify the differences and amend the model to fix it.
    • Document the entire process of modelling.
    • Present product wise report to SMT
    • Lead and coach juniors on modelling.
    • Develop and communicate actuarial best practice (setting up models, governance, analysis, testing, documentation etc.) including reviewing and challenging work of team members.

    Other tasks –

    • Performing contractual premium review of product block/policies.
    • Repricing following premium review by creating models.
    • Working on Bonus, Expense review, Fund mergers etc. projects
    • Ensure that work is processed as per agreed quality standards for correctness and fairness.
    • To ensure that all enquiries are recorded correctly on the Company Systems, for work to be scheduled to the individual and the team and to provide an audit trail.
    • To ensure that you are aware of the company complaint and incident identification procedure and that these are acted upon immediately to minimize regulatory breaches, customer/client detriment and business image.
    • To ensure that work is processed within industry compliance and legislative requirements under the guidance of the Manager, Analysts and Technicians, ensuring compliance with controls and procedures.
    • To undertake any other duties as may be deemed appropriate by your manager.
    • Ensure personal and business objectives for self are met in line with the departmental business plan and monitor success.
    • To ensure that regulatory and audit requirements are met. To be aware of data security from a customer and business perspective and take responsibility for the prevention of fraudulent activity. Maintaining the data protection ideals of clear desk, secure storage, and secure PC.
    • To ensure that the business operating systems utilized are used correctly and professionally.
    • Ensure all regular events, including audit activities and actions, are completed / escalated.
    • To adhere to local and corporate governance and controls ensuring business operating systems and procedures are utilized / updated as necessary.
    • To adhere to all HCL policies and procedures

    Person Specification

    Education/Qualifications/Training

    • Graduation in Actuarial Science
    • Actuarial exam/s passed from IAI/IFOA/SOA etc.
    • BSC/MSC Actuarial Science or BSC Mathematical or Financial subject

    Specific Job Skills

    • Good Knowledge of MS Office (especially Excel)
    • Able to demonstrate a good knowledge of the technical aspects of Life insurance products.
    • Excellent communication skills – verbal and written.
    • Workforce planning knowledge
    • Understanding of Actuarial Processes and procedures

    Experience

    • At Programming experience (especially VB or VBA)
    • Experience with Structured Query Language (SQL)
    • Actuarial Analysis experience within Life insurance sector
    • At least 7 years of experience of modelling Life insurance product in GGY AXIS/Mo Net/any actuarial software
    • Experience of working within an outsourcing environment
    • Team collaboration

    Core Competencies (HCL Standards)

    • Strategic Commercial Awareness
    • Change & Innovation
    • The need to work in a regulatory environment.
    • Delivering Excellence
    • Team player
    • Candidates with actuarial pricing modelling experience would be preferred.

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