Avp - Mist

Prudential UK Services; Mumbai; On-site; INR 3,800,000 - 6,500,000; Full time

Job summary

M&G India, the global savings and investments group, seeks an Assistant Vice President - Actuarial in Mumbai. You will drive end-to-end actuarial model enhancements, from design to validation, while maintaining robust governance and audit trails.

The role requires strong technical and analytical skills, with hands-on experience in RAFM models and supporting tools. You will collaborate with stakeholders to understand business requirements, validate changes, and ensure accurate financial impact

Qualifications

• Experience in end-to-end actuarial model development and validation.
• Strong understanding of governance, audit trails, and documentation.

Responsibilities

• Liaise with model users, developers, and stakeholders to understand business requirements across model development and operations.
• Design, develop, and unit test RAFM models, ensuring alignment with actuarial principles.
• Maintain a robust audit trail and comprehensive documentation for all model changes.
• Develop and maintain in-house tools (Excel/VBA) to support assumption governance; support Unify automation tooling.

Skills

Actuarial modelling

Analytical thinking

Communication skills

Governance & controls

Tools

Excel/VBA

Python

Unify

Job description

About M&G India

We are M&G India, the strategic innovation and digital hub for M&G. Established in 2003, we have offices in Mumbai and Pune.

Our teams work closely with colleagues across the Group worldwide to drive transformation, build digital capability, and support sustainable growth. By leveraging technology, AI, automation, and process excellence, we bring new ways of thinking to improve outcomes for both customers and colleagues.

Grounded in a vibrant culture with strong foundations, we are central to how M&G is transforming as a business.

About M&G

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

Job Description

Job Title

Assistant Vice President - Actuarial

Grade

2A

Level

Experience Colleague

Job Function

Model Implementation & Support

Job Sub Function

NA

Reports to

Vice President

Location

Mumbai

Business Area

M&G Global Services

Overall Job Purpose

At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

The Role

The Assistant Vice President in the Model Implementation & Support Team plays a pivotal role in the end-to-end lifecycle of actuarial model enhancements, from design and implementation to validation and impact assessment. The role involves understanding business requirements, developing changes in RAFM, and maintaining supporting tools such as the Assumption Management System and Unify. Assistant Vice President ensure robust model architecture, maintain detailed documentation, and drive process improvements.

On the testing side, the Assistant Vice President validates model changes through functional and end-to-end testing, ensuring accuracy and consistency across the results production process. They assess the financial impact of changes on the balance sheet and P&L, perform reconciliations, and communicate findings to stakeholders. Defect identification, resolution, and retesting are key responsibilities, along with maintaining a thorough audit trail for governance and approvals.

By combining technical modelling expertise with strong analytical and communication skills, the Assistant Vice President ensures that model changes are not only technically sound but also financially transparent and aligned with business objectives.

Primary Key Responsibilities

Core technical responsibilities for the role

Model Development

• Liaise with model users, developers, and stakeholders to understand business requirements across both model development and operational components.
• Translate business needs into technical specifications that align with the existing model architecture and operational framework.
• Design, develop, and unit test enhancements to RAFM models, ensuring alignment with actuarial principles and business objectives.
• Maintain a robust audit trail and comprehensive documentation for all model changes.
• Develop and maintain the in-house Assumption Management System (Excel/VBA-based) to support assumption governance.
• Support and enhance Unify, a VBA and Python-based automation tool for streamlining model production processes.
• Build and maintain data creation and result extraction tools for each model release cycle.
• Collaborate with stakeholders to define and execute testing and validation strategies for model and operational changes.
• Ensure accuracy, consistency, and reliability of model outputs and operational tools.
• Propose and implement process improvements across both development and operations to enhance efficiency, transparency, and scalability.
• Ensure all changes-whether in RAFM models or operational tools-are well-documented with clear version control and audit trails.
• Adhere to governance standards and contribute to maintaining model integrity and compliance.
• Understand the nature and scope of model changes or enhancements made in RAFM.
• Collaborate with model developers and stakeholders to gather context and expect