Sr. Executive /Asst. Manager / Deputy Manager - Asset Liability Management (ALM)
Actuarial – Asset Liability Management
Actuarial and Product Management
Chief Manager– Asset Liability Management (ALM)
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Chief Actuarial Officer
Birla Sun Life Insurance Company Ltd
One India Bulls Centre
1) Job Purpose
Perform the various calculations as a part of determining the Asset Liability Management (ALM) strategies for existing as well as new products. Updating the models so that the ALM strategies can be monitored on regular basis. The role also includes assisting in evaluating the investment guarantees under the products and proposing the risk mitigation solutions for effective management of such guarantees.
What are the areas (in quantitative terms) the job has an impact on?
3) Job Context & Major Challenges
(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?
Key Challenges for the role –
4) Principal Accountabilities
Assist in proposing the ALM Strategy for new as well as existing products.
1. Understand the liability profile for all the policies under a product
2. Prepare the model for liabilities to capture the impact of varying interest rate scenarios.
3. Model the assets that are identified as part of proposed / final ALM strategy.
4. Set up the runs in AXIS to generate the combined asset- liability cashflows.
5. Generate the results of AXIS runs / analyses and provide them to Actuarial Analyst.
Assist in monitoring the ALM Strategy for all the existing products.
1. Model the existing assets as per the recommended ALM Strategy.
2. Update the liability profile and perform the AXIS calculations for suggesting changes, if any, in the existing ALM strategy.
Assist in carrying out effective execution of ALM for CPPI based products
1. Update the models for daily recommendation of the asset allocation strategy using CPPI technique.
Preparation for the computations required in evaluating the guarantees under new / existing product proposals.
1. Update the model for existing products or for new products model the product features providing guarantees in AXIS / excel.
2. Generate the scenarios using stochastic model or generate the deterministic scenarios.
3. Load the scenarios in the model for testing feasibility of guarantees.
4. Run the model and summarise the results.
5) Job Purpose of Direct Reports
Understand the importance of the Asset Liability Management (ALM) and the existing framework. Familiarise with the process, models and regular tasks that are being undertaken. The role also includes assisting in updating and setting up the models used for regular ALM exercise.
6) Relationships (If Applicable)
i) Product Development and Pricing Team,
ii) Valuation Team
iii) Investment – front office
iv) Investment Advisory and Risk Management
Whenever new product concept with guarantees is being discussed
Weekly / bi-weekly
For providing inputs on feasibility of guarantees
Discuss and understand the valuation results / models for further use in ALM analysis.
Understand the current market condition like bond yields, duration etc. Also to discuss the proposed investment strategy that best suits the liability profile.
Discussion / clarification on actuarial reports for Investment committee and ALM committee and related action items.
7) Organizational Relationships (Separate Annexure to be
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