DVP - Acturial (ALM, Valuation & Reporting)

Generali Central Life Insurance; Mumbai; On-site; INR 1,500,000 - 2,000,000; Full time

Job summary

A leading life insurance provider is seeking a DVP - Actuarial for their Mumbai location. The role involves managing ALM and regulatory reporting, conducting experience analysis, and providing support to junior staff. Candidates must be qualified actuaries with 9-11 years of relevant experience. This full-time position requires strong analytical skills and stakeholder communication, ensuring adherence to internal compliance and process improvements.

Qualifications

• 9-11 years of experience, preferably in Life Insurance.
• Strong understanding of ALM and regulatory reporting.
• Experience in developing actuarial models.

Responsibilities

• Manage ALM metrics and prepare related reports.
• Conduct experience analysis and assumption setting.
• Provide guidance to junior staff and enhance their skills.
• Implement controls for compliance and improve operational effectiveness.

Skills

Actuarial modeling

Financial analysis

Risk assessment

Regulatory reporting

Stakeholder communication

Education

Qualified actuary

Tools

Prophet

Job description

DVP - Actuarial (ALM, Valuation & Reporting)

Job Title: DVP Actuarial

Reporting Structure: Reporting to Appointed Actuary

Managerial and Functional Responsibilities:

• Board and Committee papers management
• Addressing queries raised by IRDAI, internal audit, external audit, GARO, GHO and regulator
• Support in ad hoc reports as required by GARO/GHO

ALM and FRA Management:

• Perform quarterly ALM to monitor duration gap, cash flow gap; assess exposure to interest rate risk, reinvestment risks and liquidity risk
• Engage with Finance/Investment teams to align asset strategies with liability profiles
• Perform scenario and stress testing for regulatory ALM reporting as part of AAAR
• Prepare quarterly ALM Report to GARO, ensuring timely and accurate submission
• Evaluate business plan ALM metrics – duration gap and cash flow gap
• Support Investment team on preliminary SAA and Final SAA submissions to GHO

Experience Analysis and Assumption Setting:

• Perform quarterly and annual year‑end regulatory reporting on experience analysis – persistency, mortality, etc.
• Conduct detailed experience studies for persistency, including lapse and surrender across product lines, channels, cohorts and durations; drive persistency with channel heads
• Carry out mortality studies by comparing actual vs expected mortality experience across segments, products and channels
• Identify emerging trends and provide actuarial insights for assumption setting and pricing
• Collaborate with Underwriting and Claims team to investigate deviations or shifts in claims experience
• Annual review of non‑economic and quarterly review of economic actuarial assumptions used in reporting
• Support shareholder reporting team on setting assumptions for Embedded Value and Business Plan annually
• Prepare risk management sub‑committee deck for actuarial function highlighting persistency and mortality trends
• Highlight trends in monthly persistency to senior management
• Support ad hoc requirements for reinsurance/pricing team when onboarding new reinsurer
• Update SOPs for processes annually or when required
• Develop and enhance actuarial models for shareholder, statutory, IFRS17, SII reporting
• Model newly launched products in Prophet and user change requests in Prophet
• Maintain Prophet models, licensing with FIS, and ensure model governance and control frameworks

Managerial Responsibilities:

• Provide support to junior staff to develop both technical and soft skills
• Ensure outputs are well understood and used appropriately in business decisions
• Effectively communicate outputs to all stakeholders

Operational Effectiveness & Control:

• Implement controls required by Internal Compliance, internal audit and Risk Teams/IRDA and foster a culture of compliance
• Reduce timescales for tasks without compromising quality
• Ensure regulatory guidelines are adhered to in all processes and submissions
• Execute activities with controlled documentation to avoid high‑risk points in audits
• Identify process improvement areas and implement changes to improve quality and efficiency

Qualifications: Qualified actuary

Experience: 9-11 years, preferably in Life Insurance

Seniority Level: Mid‑Senior level

Employment Type: Full‑time

Job Function: Finance / Insurance

Location: Mumbai, Maharashtra, India