Chief Manager - Group Profitability - Life Insurance Segment

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 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