Senior Actuarial Analyst – Model Development

About the company

Sri Lanka Insurance General is backed by decades of industry expertise and the country’s most experienced insurance sector technical knowledge base. Join a team of highly qualified and most experienced professionals in the country to experience unparalleled opportunities for career growth and personal development opportunities within a performance-driven culture.

Duties & responsibilities

1. Lead the development of detailed insurance product specification covering product features, conditions, benefits, and status transition criteria.
2. Lead the grouping products features based on similarities, and developing master products that will be developed in cash flow projection software.
3. Design and develop the overarching architecture for the master product model, ensuring scalability, consistency, and alignment with business and technical requirements across all product lines.
4. Review and evaluate the implementation of the master product model architecture within the cash flow projection software to ensure accuracy, efficiency, and alignment with system requirements and business objectives.
5. Assess and validate the calibration of master product models to ensure accurate alignment with the features, behaviors, and risk profiles of various insurance products.
6. Lead the development of cash flow projection variables necessary for IFRS17 reporting. Conduct testing of cash flows generated by the cash flow projection software for accuracy, and finalizing the model.
7. Oversee and review the ongoing maintenance of the cash flow projection model, ensuring seamless integration of newly launched products and updates reflecting changes to existing product features.
8. Coordinate with the external parties on model validation as part of year-end actuarial valuation or as per requirement.
9. Perform additional work assigned by the management from time to time in line with the competencies to meet business requirements.

Qualifications & pre-requisites

1. Degree/ special degree/ professional qualification or equivalent in actuarial science, mathematics, statistics, data science, physics, chemistry, finance, economics, risk management, decision science, engineering, computer science, or similar discipline from a university/ institute approved by the UGC.
2. Progression in masters’ degree in actuarial science or completion of at least one subject in a professional qualification framework of an internationally recognized actuarial institute would be an added advantage.
3. At least one year of working experience in actuarial or related profession in an analyst or equivalent role.
4. Age should be below 35 years.

When applying

If you meet the above qualifications and experience, please email your CV along with the names of two non-related referees within 7 days of this advertisement. Kindly mention the post applied for in the subject line of your email.