Key Responsibilities

Financial Risk – ALM and Capital Management:

- Monthly tracking of ALM position of the Company, suggesting avenues of investment optimisation
- Explain movements in ALM position (interest rate movements, asset mix, current business profile etc.) to be presented to various Board Committees and sub-committees.
- Review Company’s derivative position, and effectiveness of current hedging strategy in light of changing business dynamics and interest rate environment
- Overview calculation of capital requirements under various economic framework (Indian RBC, S-II, MetLife Enterprise EC)
- Develop a robust process to forecast capital requirements and solvency under various economic bases from Company’s financial plan
- Strengthen existing process on ALM forecasts and explain comparison of actual position vs planned/ projected position
- Review workings and methodology adopted for submission of annual statutory ALM deliverables including economic capital
- Development of appropriate methodology for determination of Cost of Guarantee on risk-nuetral and real-world basis for adoption in Statutory Reserves, EV calculation, RBC and other Market consistent metrics
- Preparation of response to IRDAI on queries received
- Preparation of material required for Board Committees/ sub-committees

Insurance Risk – Experience Analysis & Assumption Setting:

- Review calculations of monthly and quarterly mortality experience, analysing emerging trends




- Identify pockets of poor experience and provide insights and/or alternates to improve experience while balancing PMLI’s growth aspirations, in liaison with claims, underwriting and fraud control teams
- Set annual early claims target and monthly monitoring of actuals vs targets
- Review calculations of period persistency Regularly monitor persistency experience including surrenders, conversion to RPU from key business segments, analysis experience
- Assist in setting surrender targets and tracking actual vs targets in liaison with retention and finance team
- Attend committee and sub-committee meetings on Insurance Risk and act on ATRs received
- Provide insights to management on emerging experience trends and its likely impact on key metrics
- Review and propose assumptions to be set for Best Estimate and Reserving basis as a part of annual assumption review exercise; requiring impact analysis on all key financial metrics (VNB, EV, NBS, Capital requirement, Duration etc.)
- Preparation of material required for Board Committees/ sub-committees
- Preparation of annual assumption document for internal and external stakeholders.

Board and Regulatory Reporting





- Ensure all deliverables for regulatory submission on experience analysis and ALM are on time with high level of accuracy; this includes ALM Reports, Economic Capital, Report on Persistency and other Experience study annexures.
- Prepare responses to queries from IRDAI received on experience and ALM Measures of Performance:
- Based on internal performance measurement process.
- Training and developing a high quality team and pool of resources
- Solution driven approach with an ability to think differently and explore new areas
- Ability to work under tight timelines during reporting period, managing team effectively to deliver
- Quality, accuracy and timely submission of various deliverables

Desired qualifications and experience

- Significant progress in exams
- Life Insurance experience of 10 years or more, with experience in EV Reporting, Risk, Business Planning or Statutory Valuation
- Well-versed with concepts of risk-nuetral valuation, arbitrage free theory and other economic principles
- Excellent understanding of asset cashflows such as bonds, FRA’s and interest rate derivatives and equity derivatives options.

Knowledge and skills required

- Excellent understanding of actuarial cash flows and problem solving skills
- Working knowledge of Prophet and DCS with the ability to modify required codes to achieve desire results
- Working knowledge of SQL and data management; understanding of Python will be a plus
- Adept in multi-tasking and handling multiple process
- Good stakeholder management skill; communication skill
- Ability to handle and mentor junior resources

Key Responsibilities:

📌 ACT - Associate General Manager - Actuarial (Mumbai)
🏢 PNB Metlife
📍 Mumbai