Actuarial Modelling & Reporting Professional

HFG Insurance Recruitment; Mumbai; On-site; INR 2,500,000 - 4,000,000; Full time

Job summary

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

The role suits a qualified actuary or professional progressing toward qualification, with strong modelling and reporting skills and exposure to modern platforms and reporting frameworks.

Qualifications

• Qualified actuary or equivalent qualification preferred.
• Minimum 6 years of actuarial experience in life insurance.
• Experience developing modelling specifications and replication models from product requirements.
• Hands-on experience tracing actuarial model calculations using Prophet and PathWise.
• Experience with UK-style participating / with-profits products, IULs.
• Strong IFRS 17 knowledge including GMM and VFA methodologies.
• Good Embedded Value principles and regulatory frameworks (Solvency II, RBC, BMA).
• Experience supporting actuarial reporting: input validation, reporting runs, reconciliations.

Responsibilities

• Develop actuarial modelling specifications and replication spreadsheets.
• Review and challenge models and outputs within PathWise applications.
• Analyze model calculations, data flows, and results for issues.
• Enhance actuarial process documentation across end-to-end processes.
• Support modelling implementation via PathWise Modelling Studio.
• Provide operational support for actuarial reporting and reconciliation.
• Contribute to governance, controls and process efficiency.
• Collaborate with actuarial, finance, risk and stakeholders.

Skills

Actuarial modelling

Modelling specifications

Replication models

Data analysis

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.