Actuarial - Product Development- Manager - L3 - Mumbai (Intellion Square)

JOB DESCRIPTION POSITION Individual Pricing DESIGNATION Manager POSITION GRADE L3 DEPARTMENT Actuarial OBJECTIVE OF THE ROLE Kotak Life Insurance Company is seeking a dynamic and experienced candidate as actuarial Pricing Manager to join our growing team. The successful candidate will be working on 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 · Manage 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: Steady exam growth with at least 6-8 papers , with at least one of these papers - SP1/SP2/CP1/SA2 · Work Experience: Minimum of 3-4 years of relevant actuarial work experience, with at least 2-3 years in the Life Insurance industry. Other skill set: · Good technical knowledge of actuarial pricing, product development, and regulatory requirements within the life insurance sector. · Excellent analytical, problem-solving, and communication skills. · Proficiency in actuarial software (e.g., Prophet) and advanced Excel skills. · Good 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.