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SBI General Insurance
22 SBI General Insurance Jobs
1-6 years
Mumbai, Mumbai Suburban, Mumbai
2 vacancies
Actuarial Analyst - Reserving
SBI General Insurance
posted 1d ago
Flexible timing
Key skills for the job
Broad objective:
Calculate reserves for the business by LOB, assess Ultimate Loss Ratio (ULR) for all segments to ensure adequate reserves are built in.
Responsibility Area Key Responsibilities:
- Collate the data required to conduct the analysis. Review the data to ensure accuracy.
- Conduct assumption analysis of the Non-Motor TP segment to ensure accuracy.
- Perform Reserve Adequacy Analysis to highlight any foreseeable risk. Share analysis with insights with the stakeholders to enable key business decisions.
- Accuracy of data
- Timely completion and submission of Actuarial deliverables
- Internal customer satisfaction based on quality of service provided / interactions / support
Capital Modelling:
- Review the data inputs received from the Finance department on the Asset Liability Management and the Capital Modelling work to ensure accuracy.
- Assess the methodology used and its appropriateness. Add parameters to the model, where required.
- Improve predictability of the model by using appropriate assumptions.
- Review results to ensure accuracy of calculations.
- Identify and highlight key risks to the Appointed Actuary.
- Accuracy of data
- Timely completion and submission of Actuarial deliverables
- Timely and Accurate
- Highlight the impact of key internal and external changes to the model and its output.
- Review the capital model output to check for reasonability.
- Submit the report to the regulator in a timely and accurate manner.
- Perform Solvency Simulation Modelling and report to the Bank to assess the capital adequacy.
- Conduct a check on solvency and prepare forecasts for Budget Loss Ratios. submission of reports as requested by Auditors and Regulator
Regulatory Reporting:
- Collate data and prepare analysis for the relevant sections of the Financial Condition Report and the IBNR report.
- Review analysis to ensure accuracy of calculations.
- Monitor queries from IRDA and ensure responses are provided in a timely and accurate manner. - Work closely with the peer reviewers, statutory auditors and Comptroller and Auditor General (CAG) auditors to ensure they receive all the required data in a timely manner.
- Timely and Accurate submission of reports as requested by Auditors and Regulator
Ad HocAnalysis:
- Work with the stakeholders to understand the request.
- Collate the data required to perform the analysis. Maintain a database for future ad hoc requests.
- Prepare the analysis and share the reports in a timely and accurate manner.
- Review the reports to ensure accuracy of data and calculations.
- Accuracy of data Internal customer satisfaction based on quality of service provided / interactions / support
Employment Type: Full Time, Permanent
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