Assistant Manager – Actuarial (Group Credit)

We are currently seeking a qualified professional for the Assistant Manager – Actuarial position within our Group Credit Life team. In this role, you will support pricing, profit analysis, and experience monitoring for various Credit Life products. Furthermore, you will focus on ensuring competitive pricing while meeting strict profitability targets. Consequently, this position is vital for maintaining regulatory compliance and improving our internal modeling systems.

The Assistant Manager – Actuarial will also assist in the development of new products based on emerging market needs. Additionally, you will drive the automation of repetitive tasks to improve departmental efficiency. Therefore, we are looking for a proactive individual who can coordinate with senior management to deliver accurate financial findings and strategic portfolio insights.

Key Responsibilities

• Prepare accurate quotes for Group Credit Life products in line with all regulatory requirements.
• Perform detailed profit testing on all quotes to ensure expected margins are successfully achieved.
• Negotiate competitive reinsurance terms based on specific client requirements and profitability objectives.
• Evaluate different reinsurance structures to ensure optimal risk transfer and improved business margins.
• Improve pricing and profit testing models to make them faster and more accurate for daily use.
• Develop and maintain robust premium calculators based on specific product features and pricing logic.
• Conduct regular experience analysis for all active Credit Life portfolios to track performance.
• Calculate Actual vs. Expected (A/E) ratios and develop systems for precise IBNR factor calculations.
• Suggest critical portfolio management actions such as repricing based on emerging experience trends.
• Support the preparation of all necessary documentation required for formal IRDAI regulatory filings.

Requirements and Qualifications

Technical Skills and Model Development

• Strong expertise in developing pricing models, premium calculators, and surrender calculators.
• Proficiency in automating regular tasks to improve overall team productivity and accuracy.
• Deep understanding of IBNR adjustments and their impact on portfolio performance analysis.
• Ability to assist in assumption setting for both reporting and complex reserving purposes.

Strategic Analysis and Reporting

• Proven ability to analyze portfolio experience against established business plan targets.
• Excellent skills in presenting technical findings to the Appointed Actuary and Risk Committee.
• Experience in negotiating with various reinsurers to align with underwriting and pricing needs.
• Commitment to ensuring that all pricing reflects actual experience to effectively reduce losses.

What We Look For

• A meticulous individual who can balance competitive market pricing with internal profit targets.
• A collaborative team player capable of managing multi-disciplinary tasks under tight deadlines.
• An analytical professional dedicated to maintaining the highest standards of regulatory compliance.

If you are an actuarial professional ready to drive excellence in Group Credit Life pricing and analysis, we encourage you to apply for this Assistant Manager – Actuarial position today!