Actuarial Lead

Position Title:

Manager

Function, Responsibility Level: Actuarial Analysis, Operations

Supervises:

Assistant Manager/Team Leader

Location:

Noida

Global Grade: 11

Cost Center (85 series):

TBS

Complexity:

PID/s Load Mapping:

Particular focus of the role includes:

• Responsible for the modelling and analysis on valuations and projections across all reporting bases (Regulatory Reporting, SII, Value of New Business (VNB), and ORSA)

• Provide explanation and analysis of results to key stakeholders including the production of written reports;

• Support assumption setting processes;

• Support in specification and validation of new valuation methodologies, models and product implementations;

• Support additional financial research, governance, controls, actuarial methods and standards used within assigned sub-region;

• Develop strong working relationships and strategic partnerships with internal clients (e.g. sub-regional CFO and CRO) to ensure a high degree of customer satisfaction;

• Review work produced by team, manage timelines and ensure critical focus on Actuarial Analysis core deliverables throughout the course of the reporting year

To ensure the delivery of the following objectives:

• 
  External and Internal Reporting

• Timely and accurate analysis of actuarial balances on existing business for Regulatory Reporting, SII, ORSA and VNB;

• Timely and accurate analysis of business and capital plans;

• Explanation of variance between reported results and previous plans;

• Liaison with Financial Controllers to ensure suitable and consistent reserving and accounting practices;

• Assistance to the Chief Actuary and senior management team in the continuous monitoring of the adequacy of capital resources, and analysis of the solvency balance sheet as well as new business premium rates and propositions;

• Interpretation/analysis of experience studies and the determination of best estimate assumptions and provisions for adverse deviation (PADs) where applicable for reserving;

• Error free, clear communication of results via reporting templates, memos, reports or presentations

Key Performance Indicators (KPIs) of Position:

• Error free preparation of financial reports to required timescales and relevant actuarial standards;
• Execution of second-line data validation and completeness checks to required actuarial and audit standards.
• Contributing towards good team morale and positive team engagement and professional development.
• Ensuring excellent communication between Noida-based team and stakeholders based in different geographical locations.

Taking demonstrable ownership of work; clearly flagging any issues and goal delivery concerns to senior leadership team.

Education

Essential experience, skills and competencies:

• Meticulous in the validation, presentation and communication of results;
• Respectful of deadlines, discipline and process, yet flexible and pragmatic within a growing business;
• Capable of working autonomously or with a team, and of balancing own initiative with advice from others;
• Able to navigate through complex problems and organisations to achieve results and deliver solutions;

• Able to communicate complex issues to non-experts;

• Experience of Regulatory Reporting and VNB reporting;
• Demonstrable experience of insurance products sold by MetLife globally being a distinct advantage;
• A thorough knowledge of actuarial reporting across a wide range of product types: unit linked; creditor, individual protection and group business;
• Recent practical experience of financial / actuarial modelling systems (Prophet would be a plus);
• Excellent Excel/VB/ VBA skills. (Python coding skills would be a plus)

Internal Contacts

(and purpose of relationship):

External Contacts

(and purpose of relationship) – If Applicable

Enclosures:

MetLife Values :

Our purpose and values

Our purpose is why we are in business and reflects what we stand for and believe in. Our purpose is to help people pursue more from life. Our values are how we achieve that purpose, through an expression of who we are, what we stand for as a company and how we conduct our business: