Director – Head of Statutory Valuation

A leading life insurance company is seeking a visionary Director – Head of Statutory Valuation for its offices in Mumbai or Gurgaon. In this critical leadership role, you will oversee statutory valuation, experience studies, data management, and reinsurance administration. Furthermore, you will serve as a primary actuarial advisor to the With Profit Committee (WPC) to ensure policyholder interests are protected. Consequently, this position is essential for ensuring accurate liability valuations and maintaining robust regulatory compliance within the life insurance domain.

The Director – Head of Statutory Valuation must be a qualified actuary with deep expertise in IRDAI valuation frameworks. Additionally, you will lead comprehensive experience studies across mortality and persistency to embed data-driven insights into strategic decision-making. Therefore, the company is looking for a Fellow Actuary with at least 12 years of relevant industry experience and strong leadership credentials. If you are a strategic thinker with a passion for data discipline and process automation, this role offers a premier opportunity for career advancement.

Key Responsibilities

• Lead end-to-end statutory valuation of policyholder liabilities in full compliance with IRDAI regulations.
• Ensure the timely and high-quality preparation of the Appointed Actuary’s Report and other regulatory filings.
• Own the actuarial controls, assumption governance, and model validation frameworks for all valuation processes.
• Act as the primary actuarial advisor to the With Profit Committee (WPC) on technical analysis and estate management.
• Lead comprehensive experience studies across mortality, morbidity, persistency, and expense metrics.
• Update and align assumptions used for pricing, reserving, VNB, and various projections across reporting bases.
• Oversee the administration and governance of reinsurance treaties to ensure terms are accurately reflected in systems.
• Manage the RENOVA system and coordinate with reinsurers and finance teams for accurate treaty settlements.
• Define data requirements and reconciliation protocols to improve automation and data flow for actuarial processes.
• Champion a culture of data discipline and accountability while overseeing the integrity of actuarial data.

Requirements and Qualifications

Education and Experience

• Fellow of the Institute of Actuaries of India (IAI) or an equivalent internationally recognized body.
• Candidates with SA2 cleared from the IAI are highly preferred for this leadership position.
• At least 12 years of relevant experience in the life insurance industry, focusing on valuation or shareholder reporting.
• Proven track record in governance roles, including committee involvement and senior-level board presentations.

Technical Skills and Competencies

• Hands-on experience with IRDAI valuation frameworks and deep knowledge of Indian insurance regulations.
• Expertise in actuarial modelling, product structures, and various valuation methodologies.
• Strong leadership and communication skills with the ability to liaise effectively with auditors and regulators.
• Demonstrated emotional intelligence in managing team dynamics and mentoring an analytical bench.
• Ability to modernize actuarial systems through the automation of valuation and experience study processes.

What the Company Looks For

• A strategic leader dedicated to 100% on-time delivery of all regulatory and internal valuation requirements.
• A professional who ensures zero critical reconciliation issues and full compliance with documentation standards.
• An innovative thinker focused on strengthening data lineage and auditability while reducing manual interventions.

If you are an actuarial expert ready to lead statutory valuation and drive data-led insights for a premier life insurance organization, we encourage you to apply today!