Actuarial Analyst - Reserving

Job Description

Broad objective: Calculate reserves for the business by LOB, assess Ultimate Loss Ratio (ULR) for all segments to ensure adequate reserves are built in. Responsibility Area Key Responsibilities: - Collate the data required to conduct the analysis. Review the data to ensure accuracy. - Conduct assumption analysis of the Non-Motor TP segment to ensure accuracy. - Perform Reserve Adequacy Analysis to highlight any foreseeable risk. Share analysis with insights with the stakeholders to enable key business decisions. - Accuracy of data - Timely completion and submission of Actuarial deliverables - Internal customer satisfaction based on quality of service provided / interactions / support Capital Modelling: - Review the data inputs received from the Finance department on the Asset Liability Management and the Capital Modelling work to ensure accuracy. - Assess the methodology used and its appropriateness. Add parameters to the model, where required. - Improve predictability of the model by using appropriate assumptions. - Review results to ensure accuracy of calculations. - Identify and highlight key risks to the Appointed Actuary. - Accuracy of data - Timely completion and submission of Actuarial deliverables - Timely and Accurate - Highlight the impact of key internal and external changes to the model and its output. - Review the capital model output to check for reasonability. - Submit the report to the regulator in a timely and accurate manner. - Perform Solvency Simulation Modelling and report to the Bank to assess the capital adequacy. - Conduct a check on solvency and prepare forecasts for Budget Loss Ratios. submission of reports as requested by Auditors and Regulator Regulatory Reporting: - Collate data and prepare analysis for the relevant sections of the Financial Condition Report and the IBNR report. - Review analysis to ensure accuracy of calculations. - Monitor queries from IRDA and ensure responses are provided in a timely and accurate manner. - Work closely with the peer reviewers, statutory auditors and Comptroller and Auditor General (CAG) auditors to ensure they receive all the required data in a timely manner. - Timely and Accurate submission of reports as requested by Auditors and Regulator Ad HocAnalysis: - Work with the stakeholders to understand the request. - Collate the data required to perform the analysis. Maintain a database for future ad hoc requests. - Prepare the analysis and share the reports in a timely and accurate manner. - Review the reports to ensure accuracy of data and calculations. - Accuracy of data Internal customer satisfaction based on quality of service provided / interactions / support