Lead Valuations
Aditya Birla Group — Mumbai, MUMBAI
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Job Description
Job Purpose
Job Purpose
To lead the actuarial valuation function for the company by ensuring timely and accurate reserve calculations, financial reporting, and regulatory submissions. The role will support statutory, IFRS and management reporting requirements while driving process improvements and maintaining compliance with IRDAI and applicable accounting standards.
Job Context
- Health insurance business with dynamic product mix and evolving regulatory requirements.
- Need for accurate reserving and profitability analysis to support business decisions.
- Close interaction with Finance, Product, Pricing, Claims and Risk functions.
- Compliance with IRDAI regulations, IND AS/IFRS requirements and actuarial standards of practice.
Major Challenges
- Maintaining accuracy and timeliness of valuation outputs within tight reporting timelines.
- Adapting to changing regulatory and accounting requirements.
- Managing large datasets and ensuring data quality.
- Balancing statutory requirements with management reporting needs.
- Supporting business growth while ensuring reserve adequacy and financial stability.
Key Responsibilities
1. Valuation and Reserving
- Lead monthly, quarterly and annual actuarial valuation exercises.
- Determine reserves including IBNR, IBNER and other policy liabilities.
- Monitor reserve adequacy and emerging claim experience.
- Conduct experience studies and reserve movement analysis.
2. Financial Reporting
- Support statutory reporting and regulatory submissions to IRDAI.
- Provide inputs for IND AS/IFRS reporting requirements.
- Perform analysis of financial results and explain movements in liabilities and profitability.
- Support external and internal audit requirements.
3. Business Performance Analysis
- Analyse claims trends and profitability by product, channel and segment.
- Monitor actual versus expected experience and identify emerging risks.
- Provide actuarial insights to support strategic decisions.
4. Regulatory and Compliance
- Ensure adherence to IRDAI regulations and actuarial standards.
- Support preparation of actuarial reports and Board presentations.
- Liaise with Appointed Actuary and regulatory stakeholders as required.
5. Process Improvement and Automation
- Drive automation initiatives to enhance efficiency and reduce manual interventions.
- Improve valuation models and strengthen controls around reporting processes.
- Ensure data integrity and governance across valuation activities.
6. Stakeholder Management
- Work closely with Finance, Product, Pricing, Underwriting and Claims teams.
- Support senior management with analytical inputs and recommendations.
- Mentor and guide team members to build actuarial capabilities.
Frequently Asked Questions
What are the eligibility criteria for the Lead Valuations job at Aditya Birla Group?
Eligibility typically includes the qualifications and experience outlined in the job description above, with around 5-8 Years years of relevant experience expected for this role.
What are the primary responsibilities of a Lead Valuations at Aditya Birla Group?
The key responsibilities for this role are detailed in the Key Responsibilities section above, covering the core duties expected of a Lead Valuations at Aditya Birla Group.
Is prior experience required for this position?
This role requires around 5-8 Years years of relevant experience, as specified in the job listing. Please refer to the Qualifications & Experience section above for full details.
What skills are important for this role?
Skills relevant to this position are outlined in the Qualifications & Experience section above. In general, strong communication, domain knowledge, and the ability to meet role-specific targets are valued across similar BFSI positions.
How do I apply for the Lead Valuations role at Aditya Birla Group?
You can apply directly using the Apply Now button on this page, which will take you to Aditya Birla Group's application process for this role.
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