Website Jubilant HR Consultants
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
To apply for this job please visit www.iimjobs.com.
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