About the role
JOB DESCRIPTION
POSITION
Individual Pricing - Mid-Level Actuarial Pricing Manager
DESIGNATION
Chief Manager / AVP
OBJECTIVE OF THE ROLE
Kotak Life Insurance Company is seeking a dynamic and experienced Mid-Level Actuarial Pricing Manager to join our growing team. The successful candidate will lead a team of few actuaries, overseeing all aspects of product design, feasibility analysis, regulatory compliance, and product filing and approvals. The role will also involve cross-functional collaboration, providing technical support to other departments for system setups and product launches.
KEY RESPONSIBILITIES
·Lead and mentor a team of few actuarial professionals, fostering a collaborative and high-performing work environment.
·Manage and drive the end-to-end process of new product design, including ideation, actuarial modelling, risk assessment, and pricing strategies.
·Conduct thorough feasibility studies for new and existing products, ensuring alignment with company objectives and market trends.
·Ensure all products meet regulatory requirements by preparing and submitting necessary documentation for product filings and securing approvals from relevant authorities.
·Act as a key liaison with regulatory bodies, addressing queries and ensuring timely product approvals.
·Support other teams, such as IT, Operations, and Distribution, with system setups, product launches, and implementation activities, ensuring smooth and efficient roll-outs.
·Stay abreast of changes in actuarial standards, regulations, and industry best practices, ensuring compliance and continuous improvement in pricing methodologies.
·Prepare and present reports, analyses, and recommendations to senior management and other stakeholders.
REQUIRED QUALIFICATION AND SKILLS
·Educational Qualifications: Preferred Fellow Actuary or candidates close to achieving Fellowship from IFOA or IAI.
·Work Experience: 7 years + relevant actuarial work experience, with at least 5 years in the Life Insurance industry.
Other skill set:
·Strong technical knowledge of actuarial pricing, product development, and regulatory requirements within the life insurance sector.
·Demonstrated leadership and team management experience, preferably having led small teams in a similar capacity.
·Excellent analytical, problem-solving, and communication skills.
·Ability to manage multiple projects and stakeholders in a fast-paced environment.
·Proficiency in actuarial software (e.g., Prophet) and advanced Excel skills.
·Strong understanding of the Indian life insurance market and regulatory landscape.
·Experience in product filing and handling regulatory queries.
·Adaptability and willingness to engage in cross-functional projects.
·Results-driven, with a keen eye for detail and accuracy.