AddressJOB DESCRIPTION
About KPMG in India
KPMG entities in India are professional services firm(s). These Indian member firms are affiliated with KPMG International Limited. KPMG was established in India in August 1993. Our professionals leverage the global network of firms, and are conversant with local laws, regulations, markets and competition. KPMG has offices across India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Jaipur, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune, Vadodara and Vijayawada.
KPMG entities in India offer services to national and international clients in India across sectors. We strive to provide rapid, performance-based, industry-focused and technology-enabled services, which reflect a shared knowledge of global and local industries and our experience of the Indian business environment.
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Job Summary
Executive
Life Actuarial Team
Bangalore
Risk Consulting, FRM
About us
KPMG is a leading professional services firm comprising over 174,000 professionals who work together to deliver value in more than 155 countries through in-depth industry insights in Audit, Tax & Advisory. The firm recorded more than USD 24.4 billion in revenues in 2015.
The position in discussion is with the Risk Consulting team at KPMG Global Services (KGS).
KPMG’s Risk Consulting Advisory Services Practice focuses on fundamental business issues — managing risk, increasing revenues, controlling costs — that organizations, across various industries, should address in order to help them flourish. We help companies to identify and manage risks inherent in business processes and technology systems that support business objectives, and provide them with the information needed to help them meet their strategic and financial goals. Our services are divided into 4 service line mainly – IT Advisory, Internal Audit Risk & Compliance Services, Forensic and Financial Risk Management to help clients mitigate risks across an overall risk spectrum.
Roles and responsibilities
The recruitment is for an Executive role in the Life Actuarial Services team which works for KPMG UK, US and India. The actuarial work performed by the team spans across life audits, appraisal valuation, embedded value, economic capital and modelling for these as necessary.
Primary Responsibilities
Actuarial Audits: Audit of the client’s half-yearly and yearly valuation systems for true and fair view.
IFRS current and proposed IFRS 17[Assumptions, methodology, controls and results] review
Solvency II [Assumptions, methodology, controls and results including Technical provisions, SCR] review
IFRS to SII Technical Provision movements
Modelling: Modelling of reserves, risk margin, embedded value for various life products; migration of models from existing actuarial software (e.g. MGALFA to GGY AXIS); model testing and validation.
Appraisal Value/Transactions/Embedded Value Review: Provide transaction and due diligence support to the client; including perform independent validation of Embedded Value calculations.
Other related responsibilities
Assist client with understanding and implementing the new regulations e.g. IFRS 17, etc.
Provide assistance with actuarial system transformation
Essential Requirements
Education / professional qualifications
Graduate/Post graduate with a strong background in mathematics or statistics. Member of Institute of Actuaries (UK) and/or Institute of Actuaries of India and must of passed at least 4 actuarial exams from either of these institutes including CT5.
Prior Experience:
2-4years of life actuarial experience with knowledge in reporting - reserving, embedded value, business planning, pricing etc
. Understanding of IFRS 17 preferred. Knowledge of stochastic modelling and proxy modelling is a plus.
Required Skills
Technical Skills
Knowledge of insurance business and actuarial techniques specifically in any of the reporting areas. Familiarity with spreadsheets, databases, statistical analysis programs. Working knowledge of Prophet essential. Prior experience with actuarial modelling software is a plus. Examples include Prophet, GGY Axis, MG-ALFA, Mo Ses etc
Soft Skills
Good communication and strong interpersonal skills and ability to interact with internal (UK/US) stakeholders & clients.
KPMG India has a policy of providing equal opportunity for all applicants and employees regardless of their color, caste, religion, age, sex/gender, national origin, citizenship, sexual orientation, gender identity or expression, disability or other legally protected status. KPMG India values diversity and we request you to submit the details below to support us in our endeavor for diversity. Providing the below information is voluntary and refusal to submit such information will not be prejudicial to you.
Education / professional qualifications
Graduate/Post graduate with a strong background in mathematics or statistics. Member of Institute of Actuaries (UK) and/or Institute of Actuaries of India and must of passed at least 4 actuarial exams from either of these institutes including CT5.
