Assistant Manager -Actuarial Modeling

Assistant Manager – Actuarial Modeling

Union Assurance is a leading corporate and one of the fastest growing entities in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates. For the 9th consecutive year, the company has received the GPTW certification as a ‘Best Employer Brand,' and in 2020 was awarded the ‘Global Employer Brand’ by the World HRD Congress.

The Job Role:

The person will be responsible for preparing and updating the actuarial model.

Principle Accountabilities:

• Responsible to perform coding and testing the actuarial models.
• Assumption settings in Actuarial models and model updates.
• Setting up the data flow processes to/from prophet to meet modeling and Financial Reporting Requirements.
• Analyzing results of models for reasonability including detailed checks for auditability.
• Updating the model documentation, procedures and processes on work performed.
• Identifying model limitations and sorting out based on the materiality.
• Making sure that the products are within regulatory guidelines.
• Integrating the product pricing with System development and User Acceptance Testing and ensure consistency throughout the end-to-end product development process and post launch consistency.
• Reviewing pricing models and provide insightful summary of the results of various iteration and sensitivities done during pricing and provide necessary inputs to the management and other divisions.
• Actuarial Valuation & Regulatory Reporting support by modelling new products in Prophet.

Qualifications and Experience

• A Bachelor’s Degree in Mathematics/Statistics or Actuarial science from a recognized University.
• Fully/ partly qualified in professional Actuarial exams.
• Minimum 02-03 Years in Senior Executive capacity/relevant experience, with 8+ years overall experience.
• In depth understanding of modeling and strong mathematical skills.
• Strong strategic thinking abilities, problem solving skills and attention to detail

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 22nd May 2024