Assistant Manager - Actuarial Reporting

Assistant Manager – Actuarial Reporting

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 to conduct analysis and execute reporting on the financial performance of insurance products

Principle Accountabilities:

• Supporting supervisor to prepare and deliver the business plan projections as part of the UA's annual planning process (P&L and Surplus for various product lines and sales channels) on time. This includes performing model enhancements, conduct statistical analysis, data preparation based on the business mix and composition, DCS runs, result checks, Prophet model runs for business plan projections.
• Conducting experience Investigations annually which are required to set up the Actuarial assumptions. (Mortality, Morbidity, Lapse & Expenses). This includes performing data checks, model enhancement, DCD runs, Excel template updates & report preparations.
• Supporting Life division for customer and other related party queries and regular monthly review of reinsurance on policy status in RI reports.
• Support to check the credibility of the universal life funds to the valuation team before they perform the end year valuation after doing dividend rate changes in the system
• Assisting the supervisor for Bancassurance assignment evaluations.
• Support supervisor to evaluate incentive schemes (Agency, Banca, Other). This includes the model development to check the budget constraints and to do projections.
• Getting involved with UAT for different purposes (LIMRA Persistency checks, Maturity portfolio, VNB dashboard etc.)

Qualifications and Experience

• A Bachelor’s Degree in Mathematics/Statistics or Actuarial science from a recognized University.
• Master’s degree in Acutairal or Fully/ partly qualified in professional Actuarial exams.
• 03 -05 years of experience in similar role.
• In depth understanding of reporting function mainly business planning, EV and VNB Calculations).
• Advanced excel knowledge and familiarity of Actuarial related software.
• Excellent analytical skills, problem solving skills and attention to detail is mandatory.
• Strong adaptability, work under pressure and capacity to work in fast-paced environments.
• Ability to work independently and in a team-oriented environment.

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.