Quantitative Credit Actuary

NACBA; Bengaluru; On-site; INR 2,000,000 - 4,000,000; Full time

Job summary

Swiss Re in Bengaluru invites a Quantitative Credit Actuary to blend actuarial judgement with quantitative modelling to price and cost portfolios, enhancing tools and driving business decisions.

You will own costing models and collaborate with full-stack developers across the lifecycle, delivering robust, production-ready solutions and independent pricing opinions in partnership with underwriting and finance.

Qualifications

• 4+ years of experience in quantitative model development, statistical risk modelling, pricing/risk analytics or related fields.
• Strong knowledge of credit risk concepts and modelling techniques, including PD, LGD, EAD, portfolio risk and calibration.
• Advanced hands-on proficiency in Python, building production-ready applications, pipelines and automation.
• A quantitative academic background such as a Master’s in a relevant field.
• Strong written and verbal communication, able to present findings clearly to technical and non-technical audiences.

Responsibilities

• Support pricing and modelling of deals and portfolios, providing independent actuarial pricing opinions to underwriters and portfolio owners.
• Develop, enhance and maintain analytical and simulation-based models for pricing and assessing Credit & Surety risks.
• Contribute hands-on to Python-based model development, automation and deployment with robust documentation.
• Apply credit risk modelling to development and calibration of EAD, LGD and PD parameters.
• Translate stakeholder requirements into quantitative solutions, stories and acceptance criteria.
• Perform model validation activities and ensure deployed outputs are accurate, stable and fit-for-purpose.
• Drive enhancements to costing models and align with Swiss Re standards.
• Evaluate model accuracy and communicate implications to technical and non-technical stakeholders.
• Contribute to portfolio studies, loss trends and profitability analyses to support portfolio steering.

Skills

4+ years of experience

Credit risk concepts

Python proficiency

Quantitative academic background

Communication skills

Education

Master's degree in Computational Finance / Financial Engineering / Statistics / Applied Mathematics / Actuarial Science

Tools

Python

Java

C++

Job description

Are you ready to grow your career as a credit quant/actuary in a role that blends technical depth with meaningful business impact? Do you thrive on enhancing costing tools that drive real deal decisions? Are you curious about assessing profitability across diverse credit portfolios and helping shape underwriting strategy? If you enjoy working at the intersection of quantitative modelling, credit risk and collaborative business partnering - this role is for you.

About the Role

As a Quantitative Credit Actuary you will sit at the heart of business profitability - combining actuarial judgement, deep credit risk knowledge and hands‑on quantitative model development to build, enhance and deploy analytical and simulation‑based pricing and costing models. This is a role where your technical contributions are visible, valued and directly connected to business decisions.

You will act as a product owner for existing costing models and front‑end tools, collaborating closely with full‑stack developers across the full delivery lifecycle - from requirements discovery and prototyping through to user‑story definition, release validation and production adoption. In partnership with Underwriting, Reserving, Claims, Finance and other key stakeholders, you will develop a comprehensive view of risk and performance and provide an independent actuarial pricing opinion.

Key Responsibilities

• Support pricing and modelling of individual deals, single risks and portfolio transactions, providing independent actuarial pricing opinions to underwriters and portfolio owners
• Develop, enhance and maintain analytical and simulation‑based models used to price and assess Credit & Surety risks
• Contribute hands‑on to Python‑based model development, automation and deployment, ensuring solutions are robust, maintainable, scalable and appropriately documented
• Apply credit risk modelling knowledge to the development and calibration of assumptions, methodologies and parameters, including EAD, LGD and PD
• Translate stakeholder requirements into quantitative solutions, prototypes, user stories, acceptance criteria and prioritised development backlogs
• Perform model validation activities, including smoke testing and user‑performance checks to ensure deployed outputs are accurate, stable and fit‑for‑purpose
• Drive enhancements to costing models and parameter settings aligned with Swiss Re standards and evolving business needs
• Evaluate model accuracy, stability, uncertainty and limitations, and clearly communicate implications to both technical and non‑technical stakeholders
• Contribute to portfolio studies, loss trend analyses, profitability assessments and other initiatives supporting active portfolio steering

About the Team

The Actuarial Portfolio Management, Credit & Surety (APM C&S) team is a friendly, collaborative and intellectually curious group that puts the client at the centre of everything we do. We partner closely with portfolio owners to provide the framework for sound portfolio steering and deliver the insights that drive profitability.

We are passionate about data‑driven outcomes and continuously seek innovative ways to tackle challenges through quantitative models and data transformation. Our team reports directly to the Head of Underwriting Excellence, Corporate Solutions, giving us strong visibility and influence across the organisation.

You will be joining a team that values rigour, creativity and openness - where your ideas are heard, your growth is supported and your work makes a tangible difference.

About You

You are a technically strong and intellectually curious professional who brings both quantitative depth and strong communication skills to everything you do. You can explain complex credit risk and modelling concepts clearly to technical and non‑technical audiences alike, and you are comfortable presenting findings and recommendations to senior stakeholders.

You are collaborative by nature - building effective working relationships across multidisciplinary and multicultural teams - and you are recognised as open, dependable and delivery‑oriented. You strike the right balance between technical rigour and commercial judgement, and you understand how quantitative analysis connects to real business outcomes.

We are looking for candidates who meet these requirements:

• 4+ years of experience in quantitative model development, statistical risk modelling, pricing/risk analytics or closely related fields
• Strong knowledge of credit risk concepts and modelling techniques, including PD, LGD, EAD, portfolio risk, loss distributions and model calibration
• Advanced hands‑on proficiency in Python, including the development of robust, production‑ready applications, model pipelines, testing frameworks, packages and automated workflows
• A quantitative academic background, such as a Master's degree in Computational Finance, Financial Engineering, Statistics, Applied Mathematics, Actuarial Science or a related discipline
• Strong written and verbal communication skills, including the ability to present complex findings through concise presentations, reports and visualisations

These are additional nice to haves:

• Familiarity with Java or C++, particularly for performance‑sensitive modelling components or system integration
• Experience with credit portfolio modelling, pricing models, capital models, stress testing or portfolio risk analytics
• Knowledge of model governance, validation, deployment and production monitoring practices
• Experience collaborating with business stakeholders, developers and other technical specialists across multidisciplinary teams
• Progress toward relevant professional qualifications (e.g., CFA, FRM, CQF, IFoA, IAI, etc.)

Our company has a hybrid work model where the expectation is that you will be in the office at least three days per week.

About Swiss Re

Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance‑based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting‑edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 15,000 employees across the world.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

If you are an experienced professional returning to the workforce after a career break, we encourage you to apply for open positions that match your skills and experience.

We may use AI‑powered tools to support the review and evaluation of applications for this position. These tools provide additional insights to our recruitment teams, but all hiring decisions are carefully reviewed and made by people. To learn more about how we use AI in recruitment and how we handle your personal data, please review our Data Privacy Statement before applying.

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Reference Code: 138994