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Management Trainee - Actuarial

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Inviting applications for the role of Management Trainee, Actuarial
In this role, you will work closely with team leaders in Actuarial teams to drive closure to the projects. You will also work on technical documentation for the changes made in the model. You will complete your deliverables with a proactive and problem solving approach with good logical reasoning ability. You will be encouraged to have good client management skills and analytical skills. You also need to work on model coding and model maintenance for the issues identified as part of the research log.
Are you the one we are looking for? Apply now!
1.    Process Management:
a. Provide technical and managerial support to the Valuation team supporting all close and non-close processes
b. Work with the Valuation team in completing monthly/quarterly valuation and analysis - Perform data extraction, reconciliation, model runs, calculation of policy liabilities and assist on analysis of reserving results on a monthly basis and quarterly basis
c. Performs Annual statement and other annual reporting as advised by Client manager
d. Ensure results are prepared to satisfy the close & project requirements – Quality and on time
e. Ensure agreed governance practices are in place and adhered too – daily / weekly / monthly status reporting of team activities against the program plan or schedule
f. Primary Do / Check responsibility for ~95-100% tasks processed by the Valuation team – provide review summary on results/outputs (Why these are ok)
g. Responsible for doing process tasks and activities to remain in touch and also act as secondary doer back up on need basis
h. Develops a good understanding of all Valuation process activities managed by the offshore team – not just run the processes but also understand the end to end process and linkages of various process activities
i. Work with the Onshore Client Process owner on offshore work planning - Close task allocation and non-close activities plan & other Adhoc work asks (testing, improvements, regulatory / control asks)
j. Responsible for day to day work management at Offshore - task allocation against agreed work plans, re-assignments as needed, back up planning and end of day reporting of progress (more specifically during close days, the frequency can vary to weekly in non-close periods)
k. Own & maintain Valuation Close task list, Project list and any Valuation Adhoc task list – calibrate with Client onshore process owner as needed for updates and changes
l. Timely advance issues that need attention – to Genpact Leadership / Client process owners and work to create necessary action plans
2. Process Documentation
a. Ensure process documentation on all close tasks is updated and saved on a specified share drive structure.
b. Establish a process documentation structure that best serves the need to train a new hire and also provide step by step mentorship to a doer/reviewer
i. Template consistency
ii. Table contents – background, systems/file references, inputs-process-output, high-level process flow, procedure notes,etc
iii. Version control & change management
iv. Storage & archiving past versions
c. Build documentation for any new tasks (new transitions/new requirements)
d. Seeks necessary update and documentation sign off from onshore Client SMEs/ process owners
e. Evaluate the need for checklists and reminders for specific tasks/activities that help in minimizing errors/rework & improve review and doer efficiency
3. Other Responsibilities: (Need-based)
a.    Work with functional managers and Genpact leadership to acquire necessary staff to support the team’s requirements – Need-based
b.    Support business initiatives and projects as per Client’s preference and priority
c.    Pro-actively seek ways to improve the efficiency and calibrate with Client process owners to improve the value-add of the valuation team
d.    Establish working relationships within the Client environment across other actuarial functions, finance, IT and project management teams
Qualifications we seek in you
Minimum qualifications
•    BS/BA Degree in actuarial science, mathematics, statistics and/or related major Or Partially qualified (Preferably 3-4+ Actuarial exams cleared) with experience in life/annuity insurance or financial services industry
•    Demonstrate eye for business by extending actuarial analysis into practical commercial solutions
•    Proven analytical skills
•    Ability to manage concurrent deadlines and multiple priorities
•    Strong communication skills (verbal and written)
Preferred qualifications
•    Strong Life actuarial work experience and understanding of Annuity and Life products
•    Specific knowledge of tools – MG ALFA, AXIS, MS Access
•    Knowledge of Valuation close actuarial processes
•    Knowledge of GAAP, STAT, and Tax reporting concepts
Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. For more information, visit Follow us on Twitter, Facebook, LinkedIn, and YouTube.

Job: Management Trainee

Job ID: INS010846

Primary Location: India - Gurugram

Education Level: Bachelor's / Graduation / Equivalent

Job Posting: Jan 28, 2022

Master Skills List: Operations

Job Category: Full Time