DM Valuation

PRINCIPAL ACCOUNTABILITIES : -

1. Statutory Reserves and Solvency

• Perform the Statutory Valuation of the company on a monthly basis and compute the Solvency Ratio of the company:
• Ensure adherence to the valuation methodology of the company and ensure the same is in line with Regulations
• Raise change requests to the Prophet Models and perform UAT and Regression testing on the same
• Assist in explaining the movement in reserves month on month and produce checks in terms of appropriate reserve ratios
• Perform computation of the ASM and Solvency Ratio of the company in line with Regulations.

2. IFRS17 Implementation

• Assist in the IFRS17 GAP analysis and implementation.

3. Experience Analysis and assumption setting

• Derive experience for investment, expense, morbidity, free look, revival and set corresponding assumption
• Collaborate with Experience Analysis team on review of assumptions for mortality and discontinuance
• Ensure compliance of MADs with Regulations and APS
• Prepare documentation of the assumption setting process and get the assumptions reviewed by Appointed Actuary

4. Regulatory Forms and Reporting

• Ensure compliance with all Regulatory deliverables within timelines. These include Quarterly Solvency, Public disclosures, NAV certification etc.
• Assist in preparation of the Annual Reports ARA and AAAR along with specified annexures
• Assist in preparation of the Financial Condition Report and Peer Review report Reinsurance reports and submission
• Ensure compliance with all Regulatory deliverables related with reinsurance quarterly and annually.
• Collaborate with reinsurance team to develop new products in Renova and checking output at a periodical interval
• Preparation of the annual reinsurance report and returns