Context & Role:
The candidate will be responsible to manage all aspects pertaining to the management of the with-profits fund and deliverables with respect to reinsurance calculations. The candidate will have significant involvement in all activities of pertaining to participating fund management such as asset share calculation, (FFA) estate management and documentation pertaining to yearend bonus declaration. In addition the candidate shall be responsible with managing monthly reinsurance calculations. The role is likely to require cross functional interactions with other teams such as finance, IT and Investment for required deliverables.
Key Responsibilities:
Reviewing methodology used for calculating asset shares, ensuring adherence to PMLI’s with-profits philosophy and extant regulations and guidelines while suggesting changes to Head of Valuation as necessary
Analysing monthly asset share calculations and its movement, as a part of monthly par fund valuation.
Performing and analysing bonus sustainability calculations as a part of annual bonus declaration exercise and recommending appropriate bonus levels to Head of Valuation
Performing bonus re-calibration for various stress testing and capital scenarios such as Economic Capital, FRC etc.
Laisoning with With-profits Actuary to ensure WPC review is complete and within timelines
Managing all aspects pertaining to documentation of year end WPC report
Reviewing IT set-up with respect to annual bonus updates in policy administration system
Checking/ reviewing monthly reinsurance calculations with respect to premiums payables and claims receivables.
Incorporating recent treaties and/or modifications to existing treaty in the PMLI’s reinsurance program
Maintaining and managing reinsurance bordereaux for sharing with reinsurers as a part of treaty management
Laison with reinsurers for queries pertaining to reinsurance payables/ receivables
Addressing Regulatory requirements with respect to with-profits f