Chief Manager – Group Profitability – Life Insurance Segment Jubilant HR Consultants

The Corporate Institute; Hinoba-an; On-site; PHP 990,000 - 1,385,000; Full time

Job summary

Our client, a leading life insurance company based in Mumbai, seeks a Senior Manager- Group profitability (Group pricing) to lead VNB testing and profitability analyses. You will validate actuarial models, review assumptions, and collaborate with Product, Sales, Finance and Actuarial teams to optimize profitability.

Applicants should have 5-7 years of experience, strong analytical and communication skills, and proficiency in Excel, SQL and BI tools.

Qualifications

• VNB testing across products, channels and segments.
• Validate actuarial models used for VNB calculation including cashflow projections.
• Review assumptions affecting VNB such as mortality, lapses, expenses and interest rates.
• Conduct sensitivity and scenario testing for rate shocks and channel/product mix shifts.

Responsibilities

• Prepare regular VNB reports for management with key drivers and variances.
• Track VNB Margin (VNB/APl) and benchmark against peers.
• Support investor presentations with insights on VNB and profitability.
• Ensure compliance with IRDAI regulations and internal controls.

Skills

VNB testing & analysis

Profitability levers

Excel

SQL

BI tools

Analytical thinking

Communication

Team leadership

Education

Actuarial papers cleared (5-9) desirable

Tools

SQL

BI tools

Job description

Description:

Our client is a leading life insurance based at Mumbai

Role:

Senior Manager- Group profitability(Group pricing)

Key Responsibilities:

1. VNB Testing & Analysis:

• Perform periodic testing of VNB results across products, channels, and segments.


• Validate actuarial models used for VNB calculation, including cashflow projections, discounting, and cost of capital.


• Review assumptions (mortality, morbidity, lapses, persistency, expenses, interest rates) impacting VNB.


• Conduct sensitivity and scenario testing (interest rate shocks, lapse rate variations, channel/product mix shifts or any other assumption changes).

2. Profitability Assessment:

• Evaluate product profitability at both product and portfolio levels.


• Analyse channel-wise profitability, cost ratios, and margin contributions.


• Partner with Product, Sales, and Finance and Actuarial teams to identify levers for profitability improvement.


• Recommend design/structural changes in products and propositions to optimize profitability.

3. Business Reporting & Monitoring:

• Prepare regular VNB reports for management, highlighting key drivers and variances.


• Track and report VNB Margin (VNB / APE) across periods and benchmark against industry peers.


• Support quarterly/annual investor presentations by providing insights on VNB and profitability.

4. Governance & Control

• Ensure compliance with IRDAI regulations, actuarial standards, and internal audit requirements.


• Implement control checks and reconciliation between VNB reports, actuarial models, and financial statements.

Key Skills & Competencies:

• Strong understanding of life insurance products, pricing, and profitability levers.


• Knowledge of actuarial modelling and valuation methodologies.

Proficiency in:

• Excel: Necessary


• SQL, and BI tools for data validation and analysis: Desirable


• Strong analytical and problem-solving skills.


• Strong communication skills; ability to communicate technical results to non-technical audience.


• Experience between5-7 years


• Actuarial papers cleared between 5-9 would be desirable.


• Experience in handling a team