Actuarial Trainee

Role description

Join Tata AIA Life Insurance, a leading and fastest-growing life insurance provider in India, established in 2001 as a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. Our company embodies a legacy of trust, integrity, and excellence, combining Tata's esteemed leadership with AIA's extensive pan-Asian expertise. At Tata AIA, our vision is to be the pre-eminent protection provider enabling dreams and inspiring healthier, happier lives.

We foster a culture of innovation, inclusivity, and continuous learning, offering dynamic career growth opportunities and a supportive work environment. Recognized as a Great Place to Work and recipient of the Kincentric Best Employer Award, we are committed to employee satisfaction and holistic well-being. Our core value, People - Our Core, emphasizes our dedication to inspiring our employees to be and deliver their very best. Our aim is to attract, hire and develop highly capable leaders who are just, fair, ethical, and accountable for their actions. We strive to provide our employees with the right training, technology, equipment, resources, and guidance to perform their job effectively. Our promise to you is to provide for a diverse, equitable, and inclusive work environment, where each employee is valued as an individual and treated with respect, care, and compassion.

Fuel your future with us, find your wings, and S.O.A.R. - Shape opportunities, Optimize your potential, Accomplish meaningful work, and Reap holistic growth.

1. Program Overview

The Actuarial Trainee program at Tata AIA Life Insurance Co. offers the best possible exposure to Tata AIA Life Insurance company's business model and Insurance industry. Envisaged with a mission to create a future ready Actuarial specialized professionals for Tata AIA Life Insurance Co., this program is open for energetic and bright candidates who possess Actuarial expertise for future focused skills and caliber to lead the fastest growing insurance company in India in the future.

1. Actuarial Trainee Program Model

All Actuarial trainees will undergo a systematic strategic learning & exposure plan into Tata AIA's varied Actuarial verticals. The learning & exposure plan will augment existing knowledge while challenging Actuarial trainees to contribute towards Tata AIA Life's critical projects. The trainees will be involved in a wide variety of actuarial tasks-including modeling, valuations, pricing, and business planning-while contributing to analytical projects and creating innovative solutions. Trainees will collaborate in teams led by senior actuaries and receive mentorship from Tata AIA Life's top actuarial leaders and ManCom members who share their expertise and insights.

Job Description for Actuarial Trainee Program

Location: Mumbai, India

Responsibilities:

• To support the efforts of the Company's executives and managers in increasing overall revenue and risk mitigated profitability by active and direct involvement in the company's business operations
• Actively attend company's business affairs, follow the micro and macro- factors affecting the company's business performance
• To lead and manage several company's critical projects at the same time
• Continuously manage and coordinate stakeholders expectations
• Critically analyze and review trends and business processes via in-depth primary and secondary research to provide resolution for the same.
• Responsible to monthly valuation of policies and timely delivery of results to Finance and Accounts
• Analyses movement of policies from year to year and carry out period exercise of movement of policies to ensure proper annual reporting
• Carry out validation checks of policies to ensure accuracy of data provided
• Carry out checks on reserves movement and explain the unusual movements
• Prepare New business report for IRDA on monthly basis

Desired Competencies:

• Candidates should possess a Graduation degree as a minimum educational qualification.
• A minimum of two actuarial examinations must be successfully completed
• Basic actuarial domain knowledge of life and annuity products
• Knowledge of MS Office, Excel Spreadsheet, Python, R and SQL is preferred
• Excellent written, verbal communication and interpersonal skills.
• Willingness to work in a dynamic environment with passion and enthusiasm to learn.
• Ability to build relationship and partner with different levels of organization to drive results.
• Critical thinker with an eye for detail and accuracy to identify problems, conceptualize and administer solutions.

Selection Process:

• Group Discussion
• Personal Interview
• Technical Assessment (as applicable)

Disclaimer:
Tata AIA Life Insurance does not charge any fees from candidates during the hiring process. If the application aligns with our requirements, you may be contacted for further steps. Verify job offers through official Tata AIA communication channels to avoid fraud. The job description is the sole property of Tata AIA Life Insurance. The content of this JD is confidential, and unauthorized changes or reproduction are forbidden. To know more about Tata AIA Life, click on the weblink: