Actuarial Modelling & Reporting Professional

HFG Insurance Recruitment; Bengaluru; On-site; INR 2,000,000 - 3,200,000; Full time

Job summary

A Bermuda-based life insurance business is seeking an experienced Actuarial Modelling & Reporting professional to support modelling, validation and reporting capabilities. You will work with the Head of Modelling & Reporting on model specification, review and continuous improvement across products and financial reporting bases.

This role suits a qualified actuary or someone progressing toward qualification with strong modelling experience and knowledge of modern modelling platforms and IFRS 17

Qualifications

• Qualified actuary or equivalent actuarial qualification.
• 6+ years actuarial experience in life insurance.
• Experience in modelling specifications and replication models.

Responsibilities

• Develop actuarial modelling specifications and replication spreadsheets.
• Review actuarial models and outputs in PathWise for accuracy and design alignment.
• Analyze model calculations, data flows, and results to identify issues.
• Review and enhance actuarial process documentation covering data movements and controls.
• Support model implementation and ad hoc development in PathWise Modelling Studio.
• Provide operational support for actuarial reporting including validation and reconciliation.
• Contribute to ongoing improvement of modelling, reporting, governance and controls.
• Collaborate with actuarial, finance, risk and other stakeholders to ensure robust reporting.

Skills

Actuarial modelling

Model validation

Communication

Independent working

Education

Qualified actuary or equivalent

Tools

Prophet

PathWise

Job description

We are looking for an experienced Actuarial Modelling & Reporting professional to support the development, validation, and operation of actuarial modelling and reporting capabilities for a Bermuda-based life insurance business.

Working closely with the Head of Modelling & Reporting, you will be involved in model specification, model review, reporting support, process assurance, and continuous improvement across multiple life insurance products and financial reporting bases.

This opportunity is ideal for a qualified actuary or an actuarial professional progressing towards qualification who has strong actuarial modelling experience and a solid understanding of modern modelling platforms and financial reporting frameworks.

Key Responsibilities

• Develop detailed actuarial modelling specifications and replication spreadsheets based on product specifications, business requirements, and intended model functionality.
• Review and challenge actuarial models and outputs within PathWise, assessing functionality, appropriateness, usability, and alignment with the underlying design.
• Analyse and investigate model calculations, assumptions, data flows, and results to identify potential issues or inconsistencies.
• Review and enhance actuarial process documentation, with particular focus on data movements, transformations, reconciliations, and controls across end-to-end processes.
• Support model implementation and enhancement through ad hoc development activities in PathWise Modelling Studio.
• Provide operational support for actuarial reporting, including input validation, model execution, output reconciliation, result investigation, and reporting review.
• Contribute to the ongoing improvement of actuarial modelling, reporting, governance, controls, and process efficiency.
• Work collaboratively with actuarial, finance, risk, and other stakeholders to ensure robust and well-controlled reporting processes.

Skills & Experience

• Qualified actuary or equivalent actuarial qualification preferred.
• Minimum 6 years of actuarial experience within the life insurance industry.
• Strong experience developing modelling specifications and replication models from product requirements or detailed product specifications.
• Hands‑on experience tracing and investigating actuarial model calculations and results using Prophet and/or PathWise.
• Experience with UK‑style participating / with‑profits business, including reversionary and terminal bonuses, and/or Indexed Universal Life (IUL) products.
• Strong understanding of IFRS 17, particularly General Measurement Model (GMM) and Variable Fee Approach (VFA) methodologies, processes, and reporting outputs.
• Good knowledge of Embedded Value (EV) principles and regulatory capital frameworks, such as Solvency II, Risk‑Based Capital (RBC), and/or Bermuda Monetary Authority (BMA) requirements.
• Experience supporting actuarial reporting processes, including input validation, reporting runs, reconciliations, investigation of variances, and output review.
• Strong analytical and problem‑solving skills, with the ability to investigate complex actuarial results and identify root causes.
• Strong communication and documentation skills, with the ability to translate complex actuarial concepts into clear specifications and process documentation.
• Comfortable working independently while collaborating effectively across actuarial, finance, risk, and wider business functions.

Preferred Attributes

• Practical experience in actuarial model validation, model governance, controls, and assurance.
• Familiarity with actuarial reporting and financial close processes.
• Ability to translate complex product and actuarial requirements into clear, structured modelling specifications.
• Strong attention to detail when reviewing models, data flows, calculations, and reporting outputs.
• Adaptable and comfortable working in a dynamic environment where business priorities and requirements may evolve.