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