AM – IFRS 17 / Shareholder Reporting

A leading life insurance company is seeking a highly analytical Assistant Manager – IFRS 17 / Shareholder Reporting to join its actuarial team in Mumbai. In this critical technical role, you will be responsible for ensuring the accuracy of complex results for BEL, Risk Adjustment (RA), and Contractual Service Margin (CSM). Furthermore, you will play a key role in reconciling IND AS 117 results with existing reporting frameworks such as Embedded Value (EV) and RBC. Consequently, this position is vital for the successful implementation and review of new accounting standards within the Indian life insurance sector.

The Assistant Manager will coordinate across relevant departments to oversee system implementation and validate critical data inputs and outputs. Additionally, you will perform detailed checks on acquisition cash flows to maintain the highest standards of reporting integrity. Therefore, the company is looking for a professional with 2 to 4 years of relevant experience in shareholder reporting or IFRS 17. If you possess a strong understanding of Prophet and DCS, this role offers an exceptional opportunity to advance your actuarial career in a specialized reporting function.

Key Responsibilities

• Ensure the absolute accuracy of actuarial results for BEL, RA, CSM, and acquisition cash flows through rigorous checks.
• Lead the comprehensive check and review process for all IND AS 117 reporting requirements.
• Reconcile IND AS 117 results effectively with existing EV, VVNB, Stat results, and upcoming RBC frameworks.
• Coordinate with IT and relevant departments to manage the implementation of the IND AS 117 system.
• Validate and check the integrity of both input and output data flowing from the specialized reporting systems.
• Identify and resolve discrepancies between different reporting bases to ensure consistency and transparency.
• Support the department in staying aligned with evolving Indian life insurance regulatory reporting standards.
• Participate in the continuous improvement of reporting workflows and automated data validation processes.

Requirements and Qualifications

Education and Experience

• A minimum of 2 to 4 years of relevant professional experience in a Life Insurance company.
• Specific experience in IFRS 17 (IND AS 117) or Shareholder Reporting is mandatory.
• Professional experience must be post-internship; internship duration will not be counted toward the requirement.
• Hands-on experience within the Indian Life Insurance industry is an absolute must.

Technical Skills and Competencies

• Strong understanding of actuarial modelling software including Prophet and DCS.
• Knowledge of SQL is highly preferable for data management and query optimization tasks.
• Strong analytical skills with a high level of attention to detail regarding financial reconciliations.
• Ability to communicate technical actuarial results clearly to cross-functional stakeholders.
• Familiarity with various reporting bases like VNB, EV, and Risk-Based Capital (RBC).
• Proactive approach to problem-solving and system implementation challenges.

What the Company Looks For

• A meticulous professional who takes ownership of data accuracy and reporting quality.
• A collaborative team player capable of working across departments for complex system implementations.
• An analytical expert dedicated to maintaining high standards of governance in shareholder reporting.

If you are an actuarial professional with a focus on IFRS 17 and ready to shape the future of reporting for a premier insurer, we encourage you to apply today!