Head Valuation & IFRS

Birla Carbon; Mumbai; On-site; INR 2,500,000 - 3,500,000; Full time

Job summary

Birla Carbon in Mumbai seeks a Head Valuation & IFRS to lead the pricing and valuation for health insurance products. The role involves overseeing pricing strategies and ensuring compliance while collaborating with various teams to navigate the health insurance landscape of India.

The successful candidate will have a minimum of 10 years in actuarial roles, including 5 years focusing on health pricing and valuation, and will be responsible for developing pricing models, ensuring competitiveness, and conducting valuations and regulatory assessments.

This role offers an opportunity to work strategically within a growing environment of insurance, managing complex challenges in pricing and regulation.

Qualifications

• 10+ years in actuarial roles, with 5+ years in health pricing/valuation.
• Proven track record of leading pricing for health products under IRDAI regulations.

Responsibilities

• Lead the actuarial pricing and valuation function for health insurance products.
• Oversee pricing strategies and manage actuarial valuations.
• Collaborate with cross-functional teams to navigate health insurance landscape.

Skills

Actuarial pricing

Regulatory compliance

Financial analysis

Strategic planning

Data analysis

Education

Fellow of the Institute of Actuaries of India (FIAI) or equivalent

Job description

Head Valuation & IFRS

Designation: Head Pricing and Valuation

Reports to: Chief Actuarial Officer

Function: Services Operations

Department: Actuarial - CAO Office

Job Purpose

Lead the actuarial pricing and valuation function for health insurance products, driving profitability, regulatory compliance, and strategic growth. Oversee pricing strategies for retail, group, and specialty health lines, while managing actuarial valuations, reinsurance strategy, and solvency. Collaborate with underwriting, product development, claims management, and finance teams to navigate India's dynamic health insurance landscape.

Key Challenges

• Create comprehensive product basket across all segments (indemnity & fixed benefits) within the shortest time frame.
• Constantly track and maintain profitability of the portfolio.
• Competitive Pricing: Maintain competitive pricing while ensuring long‑term financial sustainability.
• Dynamic Cost Factors: Conduct accurate cost‑benefit analyses amidst changing healthcare costs, regulatory adjustments, and economic fluctuations.
• Optimize the group health insurance product portfolio to balance profitability and market competitiveness.
• Manage the impact of market volatility on the valuation and performance of group health insurance portfolios.
• Address challenges related to data quality, availability, and completeness for actuarial analysis.
• Stay updated with complex regulatory requirements, including accounting standards and solvency regulations.

Key Result Areas

• Develop and implement pricing models for health products, incorporating morbidity trends, claims experience, and expense loadings while ensuring competitiveness.
• Lead actuarial valuation and IFRS 17 valuation processes, including Contractual Service Margin (CSM) calculations, risk adjustment, and best estimate liability (BEL) projections.
• Conduct valuations reporting, solvency assessments under IRDAI guidelines, and stress testing for regulatory filings.
• Analyze own and market data to forecast utilization rates, optimize reinsurance treaties, and support product launches.
• Build and mentor a team of actuaries.
• Partner with and provide professional guidance to CXOs on strategic initiatives.
• Ensure 100% audit readiness and compliance, including quarterly reserving and annual statements.
• Maintain technical expertise in actuarial modelling, IFRS 17 implementation, and health morbidity studies.
• Apply analytical skills in claims reserving, experience rating, and predictive analytics.
• Apply regulatory knowledge of IRDAI Health Regulations.
• Demonstrate leadership and communication skills to present complex insights to boards, regulators, and cross‑functional teams.
• Exhibit strategic thinking, business acumen, and adaptability to diverse health risks across India.

Required Qualifications & Experience

• Fellow of the Institute of Actuaries of India (FIAI) or equivalent (IFoA/SoA).
• 10+ years in actuarial roles, with 5+ years in health pricing/valuation at a leading Indian insurer or consultancy.
• Proven track record of leading pricing for health products under IRDAI regulations.

Relationships

• Finance Team – Exchange and validate information, prepare solvency and regulatory reports, and discuss action plans for deviations.
• Claims Team – Understand claim trends, identify fraud risks, and discuss findings and corrective actions.
• Underwriting (Group and Retail) – Monitor practice changes, share data insights, and collaborate on product optimisation.
• Senior Management – Present findings, derive actionable outcomes, and align on strategic priorities.