Pricing Actuary

Kotak Life; Mumbai; On-site; INR 4,000,000 - 7,000,000; Full time

Job summary

Kotak Life in Goregaon (East), Mumbai is seeking a Lead Individual Pricing professional at Chief Manager/AVP level. You will lead a small actuarial team, drive end-to-end product design and pricing, ensure regulatory filings, and liaise with authorities.

Strong leadership, pricing acumen, and regulatory expertise are essential. Role requires 7+ years in life insurance actuarial pricing, with proficiency in Prophet and Excel.

Qualifications

• Strong technical knowledge of actuarial pricing, product development, and regulatory requirements within the life insurance sector.
• Demonstrated leadership and team management experience, preferably having led small teams in a similar capacity.
• Excellent analytical, problem-solving, and communication skills.
• Ability to manage multiple projects and stakeholders in a fast-paced environment.
• Proficiency in actuarial software (e.g., Prophet) and advanced Excel skills.
• Strong understanding of the Indian life insurance market and regulatory landscape.
• Experience in product filing and handling regulatory queries.
• Adaptability and willingness to engage in cross-functional projects.
• Results-driven, with a keen eye for detail and accuracy.

Responsibilities

• Lead and mentor a team of actuarial professionals, fostering a collaborative and high-performing work environment.
• Manage end-to-end process of new product design, including pricing strategies and actuarial modelling.
• Conduct feasibility studies for new/existing products aligned with market trends and company objectives.
• Ensure regulatory filing compliance and secure approvals from authorities.
• Act as liaison with regulatory bodies, addressing queries and approvals.
• Support IT, Operations, and Distribution with system setups, product launches, and implementations.
• Stay updated on actuarial standards/regulations and pricing methodology improvements.
• Prepare and present reports and recommendations to senior management.

Skills

Leadership

Pricing

Regulatory knowledge

Analytics

Communication

Project management

Stakeholder management

Cross-functional collaboration

Tools

Prophet

Excel

Job description

Role: Lead Individual Pricing

Job Title: Chief Manager / Assistant Vice President

Experience: 7 years +

Department: Actuary

Work Location: Goregaon (East), Mumbai

Job Responsibilities

• Lead and mentor a team of few actuarial professionals, fostering a collaborative and high-performing work environment
• Manage and drive the end-to-end process of new product design, including ideation, actuarial modelling, risk assessment, and pricing strategies
• Conduct thorough feasibility studies for new and existing products, ensuring alignment with company objectives and market trends
• Ensure all products meet regulatory requirements by preparing and submitting necessary documentation for product filings and securing approvals from relevant authorities
• Act as a key liaison with regulatory bodies, addressing queries and ensuring timely product approvals
• Support other teams, such as IT, Operations, and Distribution, with system setups, product launches, and implementation activities, ensuring smooth and efficient roll-outs
• Stay abreast of changes in actuarial standards, regulations, and industry best practices, ensuring compliance and continuous improvement in pricing methodologies
• Prepare and present reports, analyses, and recommendations to senior management and other stakeholders.

Required Skills

• Strong technical knowledge of actuarial pricing, product development, and regulatory requirements within the life insurance sector
• Demonstrated leadership and team management experience, preferably having led small teams in a similar capacity
• Excellent analytical, problem-solving, and communication skills
• Ability to manage multiple projects and stakeholders in a fast-paced environment
• Proficiency in actuarial software (e.g., Prophet) and advanced Excel skills
• Strong understanding of the Indian life insurance market and regulatory landscape
• Experience in product filing and handling regulatory queries
• Adaptability and willingness to engage in cross-functional projects
• Results-driven, with a keen eye for detail and accuracy.