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22 SBI General Insurance Jobs

Actuarial Analyst - Reserving

1-6 years

Mumbai, Mumbai Suburban, Mumbai

2 vacancies

Actuarial Analyst - Reserving

SBI General Insurance

posted 1d ago

Job Role Insights

Flexible timing

Job Description


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

Read full job description

Prepare for Actuarial Analyst roles with real interview advice

Top SBI General Insurance Actuarial Analyst Interview Questions

Q1. If your not getting support from bank or agent, then what will make further to generate business, what is the approach or strategy to be imp ... read more
Q2. What you know about verticals of SBI GENERAL INSURANCE?
Q3. What you know about SBI GENERAL INSURANCE?
View all 33 questions

What people at SBI General Insurance are saying

Actuarial Analyst salary at SBI General Insurance

reported by 1 employee
₹3.6 L/yr - ₹4.6 L/yr
46% less than the average Actuarial Analyst Salary in India
View more details

What SBI General Insurance employees are saying about work life

based on 1.6k employees
51%
66%
52%
99%
Flexible timing
Monday to Friday
Within city
Day Shift
View more insights

SBI General Insurance Benefits

Health Insurance
Job Training
Soft Skill Training
Free Transport
Work From Home
Team Outings +6 more
View more benefits

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