Senior Consultant – Actuarial Science

  • Company:
    Allstate solutions private limited
  • Location:
  • Salary:
    negotiable / month
  • Job type:
  • Posted:
    1 week ago
  • Category:
    Financial Services/Stockbroking | Banking

Skill: projections , capital management , reports , spreadsheets , reporting , verbal communication , co , excel , statutory reporting , financial reporting , statutory , finance , pricing; Exp: 4-6 years; Senior Consultant – Actuarial Science Date Opened May 18, 2018 Location Bangalore, Karnataka, India Company Allstate Insurance Company Job Family Summary Actuarial Sciences aims to assess the financial costs of risk and uncertainty by applying mathematics, statistics and financial theories to develop policies to minimize the risk in the areas of life and retirement solutions. The teams goal is to make these programs/policies more efficient and competitive by continuously evaluating market conditions, build asset portfolios backing business strategies and update investment/re-investment. Job Summary The Actuarial Science Senior Consultant will be part of the Allstate Life and Retirement BU and is responsible for using statistical techniques and mathematical skills to provide actuarial support for product development, projection, product implementation, illustrations, valuation, and financial reporting. Key Responsibilities Understand and drive the leveraging of actuarial valuation systems to improve valuation efficiency, simplicity transparency and to enable finance business performance delivery (Moses/AXIS, reporting to valuation spreadsheets) including review and re-engineering of current actuarial valuation processes (considering speed, quality, simplicity etc.) Ensure delivery of an actuarial valuation systems process that provides efficient timely and robust financial and value information and enables the provision of value adding insights by the Business teams to the business as well quality statutory reporting. Maintain ongoing systems, valuation and business requirements and monitor future developments Support Life Insurance products (new and re-pricing) of Allstate Life and Retirement, including Term, Traditional Whole Life, Secondary Guarantee, UL Assist in data extraction, calculations and validation while creating & running the models Provide pro-active analysis, insights and recommendations supporting development of change to actuarial valuation processes to deliver better business outcomes. Together with Systems & Data Processes, work with Home Office Actuarial Valuation teams, and other senior stakeholders to ensure change is aligned with needs of Business and valuation teams Build strong relationships with Home Office actuarial teams to identify and deliver enhancements to actuarial processes, delivery and provision of insights to business teams Build strong understanding of what is needed from product projections and drive opportunities to leverage / improve quality & efficiency. Together with Leader/Manager, Moses Development/AXIS Migration, co-ordinate delivery of Moses changes to ensure alignment within wider process and actuarial components of valuation process changes Support Moses/AXIS Development by providing cover, review and coding development support as required to Leader, Moses/AXIS Development Working towards contributing to the team as a true CoE for actuarial processes Execute the UAT/configuration tests for newly launched Product/Group products development work-stream Run sensitivity and scenario analysis Support technical documentation and help create product documents. Economic capital management Pre- and post-release analysis of economic models Prepare, run and validate credit VAR models Create dashboards and reports as needed to measure model performances Assist business users with interpreting results and pulling reports Develops data analysis and insights for Life Insurance needs/regulations Automation of reports and tools to proactively review weekly reports to look for data anomalies and perform further analysis if needed Exhibits strong understanding of core business processes and the purpose of the team Knowledge/Skills/Abilities/Experience Bachelors or Masters degree in a quantitative discipline (Applied Mathematics, Statistics, Operations Research, Actuarial Sciences or related field) 4-6 years experience in Actuarial field, preferably in Life Insurance for Senior Consultant In pursuit of Actuarial papers from US/UK/India and making good progress towards certification Knowledge and experience of US insurance and financial services market, including market structure, product, distribution, regulation, and governance processes Knowledge of Actuarial aspects of Life and all related statutory rules and regulations Technical capability / knowledge of US valuation practice Expertise on Actuarial Platforms/Tools like Moses, AXIS (GGY/Moodys), Prophet, MGAlfa, Polysystem etc. Excellent understanding of Excel, Moses and AXIS and related technology used for Actuarial valuation and the potential for enhancement. Proficient in tools like R/SAS, MS Office, SQL and Access Strong written and verbal communication skills Candidates with actuarial qualifications will be given preference

Chartered Accountant/CPA


Experience: 4-6

Function: Accounting / Tax / Company Secretary / Audit