Role Summary: Responsible for Monthly valuation, checking accuracy of data used for valuation, Movement of policies and Work on queries raised by Operations.
B Organizational Relationships
Reports To
Senior Manger
Supervises
None
C Job Dimensions
Geographic Area Covered
PAN India
Stakeholders Internal
Shareholders, Legal, IT, Policy Owner Services
External
IRDA
D Key Result Areas
Monthly valuation
Responsible to monthly valuation of policies and timely delivery of results to Finance and Accounts
Checking accuracy of data used for valuation
Carry out validation checks of policies to ensure accuracy of data provided
Checking movement of reserves
Carry out checks on reserves movement and explain the unusual movements
Coding of recent products in PROPHET
Code new products in PROPHET software for valuation purpose
IRDA NB
Prepare New business report for IRDA on monthly basis
Movement of policies
Analyses movement of policies from year to year and carry out period exercise of movement of policies to ensure proper annual reporting
Annual reporting
Prepare Annual abstract and report and Appointed Actuary report for IRDA submission
Work on IRDA related queries
Needs to work on queries raised by IRDA with regard to Annual report or during audits or any other submissions
Experience Study
Carry out various experience study like Mortality, morbidity, lapse, expenses etc.
Work on queries raised by Operations
Is responsible to handle related queries coming from Operations
Risk
Participate in risk mitigation plans, contingency planning, business continuity programs by executing and reporting within defined timelines. Highlight and recommend process gaps, flaws and process changes.
E Skills Required
Technical
Knowledge of PROPHET, MS Access is desirable
Behavioral
Essential
Desired
Interpersonal skills
.
Communication skills
.
Creative thinking skills
.
Supervising/Leadership skills
.
Teamwork Skills
.
Influencing skills
.
Relationship Building skills
.
Decision making skills
.
F Incumbent Characteristics
Essential
Desired
Qualification
Completed CT series and equivalent subjects from the professionally recognized institute only
Experience
4-6 years experience in life insurance company and at least 2 years in private life insurance company.