AVP – Statutory Valuation

A Leading Life Insurance Company is seeking an expert AVP – Statutory Valuation to join its core corporate actuarial practice in Mumbai. In this high-visibility leadership position, you will head the company’s complete statutory valuation function, ensuring absolute measurement accuracy of policy liabilities. Furthermore, you will govern IRDAI-related actuarial reporting tracks and secure the timely submission of prescribed statutory returns. Consequently, this role is crucial for maintaining corporate solvency parameters, internal data audit controls, and risk frameworks.

The AVP – Statutory Valuation must combine deep quantitative modeling depth with strong governance capabilities across multi-disciplinary financial spaces. Additionally, you will present complex valuation movements, sensitivity metrics, and key judgment parameters directly to senior management boards and external reviewers. Therefore, the firm is looking for a qualified Fellow actuary with a proven track record operating under tight regulatory timelines. If you want to steer enterprise-level valuation governance, this role offers an elite executive track.

Key Responsibilities

• Lead end-to-end statutory valuation operations of corporate policy liabilities, ensuring robust methodology governance.
• Own the execution and timely filing of all IRDAI actuarial reporting returns and prescribed regulatory statements.
• Compile and review comprehensive year-end actuarial reports, including ARA and AAAR statutory submissions.
• Manage peer review processes, external actuarial evaluation audits, and internal corporate governance tracks.
• Enforce absolute data validation, detailed spreadsheet reconciliations, and quality checks prior to metric sign-offs.
• Coordinate with Finance, Investment, Risk, and IT operations teams to resolve database or reporting mismatches.
• Present analytical valuation results, movement trackers, and sensitivities to risk committees and governance forums.
• Drive continuous process improvement, technical automation, and strict documentation standards across the function.
• Supervise, mentor, and track the daily performance milestones of the central actuarial valuation team.
• Maintain an up-to-date functional understanding of central regulatory modifications impacting life insurance solvency.

Requirements and Qualifications

• Fully Qualified Actuary credential, preferably holding a Fellow status from the Institute of Actuaries of India (IAI).
• Minimum 10-15 years of relevant actuarial experience with direct exposure to IRDAI reporting and annual valuation cycles.
• Proven experience leading data-driven teams and managing complex deliverables in a controlled environment.
• Advanced mastery of valuation methodologies, cash flow modeling concepts, and risk management tools.
• Superb stakeholder management, communication traits, and decision-making capabilities under pressure.