Chief Manager - Actuary Pricing - Mumbai (Goregaon East))

JOB DESCRIPTION POSITION Individual Pricing - Mid-Level Actuarial Pricing Manager DESIGNATION Chief Manager POSITION GRADE L5 DEPARTMENT Actuarial 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.