AVP – ALM & Experience Analysis

A leading life insurance company is seeking a strategic AVP – ALM, Experience Analysis & Modelling to join its actuarial team in Mumbai. In this senior role, you will report directly to the Appointed Actuary while leading the ALM and FRA management functions. Furthermore, you will manage complex Prophet modelling for statutory, IFRS 17, and shareholder reporting. Consequently, this position is essential for monitoring duration gaps and ensuring the organization remains resilient against interest rate and liquidity risks.

The AVP – ALM, Experience Analysis & Modelling must conduct detailed experience studies for persistency and mortality across various product lines. Additionally, you will collaborate with the Finance and Investment teams to align asset strategies with liability profiles. Therefore, the company is looking for a Qualified Actuary with 9 to 11 years of professional experience. If you have a proven track record in scenario testing and model governance, this AVP – ALM, Experience Analysis & Modelling role offers a premier leadership opportunity.

Key Responsibilities for the AVP – ALM, Experience Analysis & Modelling

• Perform quarterly ALM to monitor duration and cash flow gaps while assessing interest rate risk exposure.
• Prepare detailed quarterly ALM reports for GARO to ensure timely and accurate regulatory submissions.
• Develop and enhance actuarial Prophet models used for shareholder, statutory, and IFRS 17 reporting.
• Conduct comprehensive mortality and persistency studies to identify emerging trends and actuarial insights.
• Collaborate with Underwriting and Claims teams to investigate significant deviations in claims experience.
• Perform annual reviews of non-economic assumptions and quarterly reviews of economic actuarial assumptions.
• Manage the modelling of newly launched products and user change requests within the Prophet software.
• Ensure strict model governance and control frameworks in line with internal SOPs and audit requirements.
• Support the Investment team on preliminary and final Strategic Asset Allocation (SAA) submissions.
• Prepare Risk Management Sub-Committee decks highlighting critical persistency and mortality trends.

Requirements and Qualifications

• Must be a Qualified Actuary from an internationally recognized actuarial body.
• Minimum of 9 to 11 years of professional experience in ALM, modelling, or experience analysis.
• Proven expertise in Prophet modelling, including model enhancement and upkeep.
• Strong understanding of regulatory reporting requirements, including IFRS 17 and Solvency II.
• Exceptional communication skills for engaging with stakeholders like the Appointed Actuary and GHO.
• Ability to lead and mentor junior staff to develop both technical and professional soft skills.

Operational Effectiveness and Control

• Foster a culture of compliance by ensuring all controls meet Internal Audit and IRDAI standards.
• Identify areas for process improvement to enhance the quality and efficiency of the actuarial team.
• Ensure no high-risk points are raised during internal or external audits through robust documentation.

If you are a seasoned actuary ready to drive the AVP – ALM, Experience Analysis & Modelling function for a global insurer, we encourage you to apply today!