AVP / VP – Actuarial Pricing

A leading life insurance company is seeking a strategic AVP / VP – Actuarial Pricing to join its corporate headquarters. In this senior leadership role, you will report directly to the Head of Pricing and oversee a specialized team of actuarial professionals. Furthermore, you will be responsible for reviewing product specifications and ensuring that all pricing models align with internal guidelines and IRDAI regulations. Consequently, this position is vital for driving profitable product innovation and maintaining regulatory excellence.

The AVP / VP – Actuarial Pricing must be adept at using Excel and creating complex macros for premium rate generation and profit testing. Additionally, you will lead the preparation of filing documents for IRDAI and manage technical queries during the approval process. Therefore, the company is looking for a Qualified or nearly qualified Actuary with at least 5 years of experience in product pricing. If you have a strong understanding of actuarial principles and excellent stakeholder management skills, this AVP / VP – Actuarial Pricing role offers a premier professional path.

Key Responsibilities

• Review and refine product specifications for new insurance offerings to ensure market competitiveness.
• Ensure all pricing models are strictly in line with company guidelines and relevant IRDAI regulations.
• Prepare and oversee the submission of comprehensive filing documents to the regulator (IRDAI/PMC).
• Lead the technical response process for IRDAI queries to facilitate smooth product approvals.
• Perform in-depth analysis of both individual and group pricing models to ensure financial viability.
• Utilize Excel and VBA macros to perform efficient premium rate generation and robust profit testing.
• Collaborate with Product and IT teams to ensure seamless system setup for new product launches.
• Build and maintain strong relationships with cross-functional stakeholders in Sales, Investment, and Risk.
• Manage and mentor a team of 2-3 actuarial professionals, fostering a culture of technical excellence.
• Provide expert support in other critical actuarial areas on a need-basis to support business objectives.

Requirements and Qualifications

• Qualified Actuary or Nearly Qualified Actuary with at least 13-14 papers cleared.
• Minimum of 5 years of dedicated experience in life insurance product pricing.
• Proficiency in MS Office, with advanced technical skills in Excel and Word.
• Strong foundation in actuarial principles and a deep understanding of the regulatory landscape.
• Proven leadership ability with experience in managing small, high-performing technical teams.
• Excellent communication skills and a positive, collaborative attitude toward complex projects.