Job Overview
Role: Analyst Location: Bangalore Experience: 0–1 Year Qualification: Graduate/Postgraduate degree with a strong background in Mathematics and Statistics Mandatory Certification: At least 4 actuarial examinations passed from recognized institutes (IFoA UK, SoA/CAS of the US, or IAI India)
Job Description
The Analyst will join KPMG's Actuarial Services team and work primarily on non-life or general insurance engagements. The role involves analyzing historical claims data, identifying trends, estimating outstanding loss reserves, reviewing actuarial methodologies and assumptions, and supporting regulatory requirements. This is an analytical role suited to candidates building careers in actuarial science, insurance analytics, financial risk, and consulting, assisting senior actuarial professionals on client engagements.
Roles and Responsibilities
- Claims Data Analysis: Analyze historical claims data to identify potential issues and trends, understanding past loss experience to estimate future liabilities.
- Loss Reserving: Build MS Excel-based actuarial tools and use triangulation methods to estimate outstanding loss reserves for insurance and reinsurance companies.
- Actuarial Audits: Support Statement of Actuarial Opinions (SAO) and actuarial audits, reviewing data, methodologies, assumptions, calculations, and results.
- Methodology Review: Review data, actuarial methodologies, assumptions, results, and market benchmarks to assess internal consistency and reasonableness.
- Year-on-Year Reconciliation: Reconcile current results with previous year's results and compare with client's own calculations to identify discrepancies.
- Pricing Models: Review non-life insurance pricing models and carry out bespoke modelling work, understanding the role of various factors in pricing.
- Regulatory Compliance: Assist with actuarial reviews related to Solvency II Technical Provisions, Economic Balance Sheets, and regulatory submissions, and help clients implement regulations.
- Submission Validation: Validate consistency across regulatory submissions, comparing information across reports and supporting calculations.
- Due Diligence: Provide transaction and due diligence support to clients, analyzing insurance portfolios, claims performance, and risk-related information.
- System Transformation: Provide exposure to actuarial system transformation, helping clients improve systems for actuarial calculations and data management.
- Economic Capital: Assist with actuarial reviews of economic capital requirements, understanding capital needed to withstand potential risks.
- Reporting & Communication: Prepare clear commentary on results and findings, produce summary reports, and communicate with engagement managers, Directors, and Partners.
Skills and Eligibility Criteria
Educational Background: Graduate or postgraduate with a strong background in Mathematics and Statistics. Member of IFoA UK, SoA/CAS of the US, and/or IAI India. Must have passed at least 4 actuarial examinations from one or more of the relevant institutes.
Experience: 0–1 year of experience in the insurance business or finance.
Competencies:
- Strong analytical and quantitative skills
- Attention to detail
- Strong communication skills