Pramerica Life Insurance – Actuarial Manager – Valuation Pramerica Life Insurance

The Corporate Institute; Gurgaon; On-site; INR 1,200,000 - 2,400,000; Full time

Job summary

The Corporate Institute, Gurgaon, India, seeks a qualified actuary with 4–6 years of experience to lead monthly and quarterly valuation activities for life insurance products. You will ensure statutory compliance under IRDAI, perform solvency margin calculations, and resolve data issues with cross-functional teams.

Responsibilities include maintaining valuation tools, supporting IRDAI submissions, and reviewing model assumptions against experience analyses.

Qualifications

• Bachelor’s or Master’s degree with sound actuarial training.
• Proficiency in actuarial concepts and methodologies.
• Strong MS Excel, VBA and R programming skills.
• Experience with Prophet or similar actuarial software.

Responsibilities

• Perform monthly valuation work per Indian statutory requirements and prepare summaries explaining reserve movements.
• Conduct solvency margin calculations monthly/quarterly per IRDAI.
• Identify life policy data issues and coordinate with IT/Admin to resolve them.
• Maintain DCS tool, valuation data, and ensure compliance controls and audits.

Skills

Actuarial expertise

MS Excel

VBA

R programming

Education

Bachelor’s/Master’s degree

5 actuarial exams

Tools

Prophet

Job description

Key Responsibility:

• Perform monthly valuation work per Indian Statutory requirements, prepare necessary summary reports of the monthly valuation results and explain movements in reserves.
• Perform monthly and quarterly solvency margin calculations in accordance with IRDAI requirements.
• Identify Individual and group life policy data issues and work with IT/Admin team to fix them.
• Maintenance of DCS tool and valuation data along with necessary compliance controls and audit checks.
• Preparing various quarterly and annual IRDAI submission pertaining to ARA, AAAR, Actuarial Forms BAP submission, public disclosures etc.
• Performing asset share roll-forward to manage profitability and reserves of Par business.
• Performing declared bonus calculations and assist in handling requirements of the WPC committee of the Company.
• Assist in handling queries from Peer Reviewer, Statutory Auditor & IRDAI on sufficiency of reserves and solvency positions.
• Perform an annual review of the best estimate valuation assumptions and update the assumptions documentation basis the experience analysis results and other analysis performed.
• Review the assumptions used in the model with those documented for valuation basis and reconcile the cash flows generated from the models by replicating them in spreadsheets.
• Standardize and document all the business skills to contribute to business results.

Job Specifications:

• Bachelor’s/Master’s degree with minimum 5 actuarial exams.
• At least 4 – 6 years of working experience preferably in the valuation function of a life insurance company.
• Sound knowledge of advanced MS Excel, VBA and R programming.
• Knowledge of Actuarial software like Prophet.