Senior - Actuary

JOB DESCRIPTION

About KPMG in India

KPMG entities in India are professional services firm(s). These Indian member firms are affiliated with KPMG International Limited. KPMG was established in India in August 1993. Our professionals leverage the global network of firms, and are conversant with local laws, regulations, markets and competition. KPMG has offices across India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Jaipur, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune, Vadodara and Vijayawada.

KPMG entities in India offer services to national and international clients in India across sectors. We strive to provide rapid, performance-based, industry-focused and technology-enabled services, which reflect a shared knowledge of global and local industries and our experience of the Indian business environment.

Key Responsibilities

Support end‑to‑end IFRS 17 implementations including:

Model design and validation for GMM, VFA, and PAA

Contract grouping and unit of account

CSM calculation, release, and analysis

Interpret IFRS 17 standards and translate them into actuarial and system requirements

Perform IFRS 17 actuarial calculations using tools such as Prophet, RAFM, Moses, or Axis

Support dry runs, parallel runs, and post‑go‑live activities

Prepare and review IFRS 17 disclosures and reconciliations

Work closely with Finance teams for actuarial–accounting alignment

2. Solvency II (Pillar I, II & III)

Perform Solvency II valuation of technical provisions (BEL, Risk Margin)

Support SCR calculations (Standard Formula / Internal Model)

Assist in Pillar III QRTs, narrative reports, and regulatory submissions

Ensure consistency between Solvency II, IFRS 17, and local GAAP results

Document methodologies, assumptions, and governance processes

3. Actuarial Modelling & Systems

Develop, enhance, and maintain actuarial models for Life insurance products:

Participating, Non‑Participating, ULIP, Annuities, Protection

Model cashflows, assumptions, and economic scenarios

Improve model efficiency, automation, and robustness

Support model validation, testing, and audit reviews

Work with data, IT, and systems teams during model integration

4. IGAAP Valuation & Reporting (India-specific)

Perform IGAAP actuarial valuations including:

Reserve calculations

Embedded Value (if applicable)

Bonus valuation and policyholder liabilities

Support statutory reporting and IRDAI regulatory requirements

Ensure consistency between IGAAP, Solvency II, and IFRS 17 outputs

Assist in statutory audits and actuarial investigations

5. Stakeholder Management & Documentation

Liaise with internal stakeholders (Finance, Risk, Product, IT)

Support external stakeholders (Auditors, Regulators, Consultants)

Prepare actuarial documentation, methodology papers, and presentations

Ensure compliance with actuarial standards and governance controls

Required Skills & Qualifications

Educational & Professional

Bachelor’s/master’s degree in actuarial science, Statistics, Mathematics, or related field

Progress toward IFoA / IAI / SOA / CAS actuarial qualification (Associate or Fellow preferred)

Technical Skills

Strong knowledge of:

IFRS 17

Solvency II

Life Insurance Products

IGAAP actuarial valuation

KPMG India has a policy of providing equal opportunity for all applicants and employees regardless of their color, caste, religion, age, sex/gender, national origin, citizenship, sexual orientation, gender identity or expression, disability or other legally protected status. KPMG India values diversity and we request you to submit the details below to support us in our endeavor for diversity. Providing the below information is voluntary and refusal to submit such information will not be prejudicial to you.

QUALIFICATIONS

Masters/Bachelors in Science, Statistics, and/or Financial Theory