Ernst & Young's Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated advisory services to financial institutions and other capital markets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies. The service offerings provided by the FSO Advisory include: market, credit and operational risk management, actuarial advisory, regulatory advisory, quantitative advisory, structured finance transaction, technology enablement, risk and security, program advisory, and process & controls.
Within our talented and dynamic Insurance & Actuarial Advisory Services (IAAS) team, the member works on multiple client engagement teams that perform actuarial model building and validations, reserving analysis (actuarial liability calculations), due diligence, premium calculation, valuation analysis for IFRS, GAAP, and Statutory, MCEV/EV calculations and review, capital/risk modeling and other related actuarial projects for General, Life, and Health insurance businesses. The team member also receives on-the-job training to acquire practical experience in addressing business/technical issues and in applying industry knowledge and EY policies/procedures on client engagements. The position is designed to enable the member to pursue actuarial exams while developing the basic skills needed to be a successful actuarial consultant, combining both excellent learning and career opportunities.
Actuarial Liability estimation for general insurance lines of business.
Pricing for general insurance products which involves data preparation, model building and presenting final results to relevant teams
Analyzing loss and premium/exposure data.
Knowledge of different lines of business.
Preparations of report to be sent to client showing results of the analysis.
Communication of results of analysis to actuaries in other geographical regions such as US, UK etc.
Risk analytics including development of analytical tools, analysis of insurance risk and general support for any risk analytics in the company.
Maintain strong focus in finishing Actuarial exams along with developing a strong subject matter experience
Establish/manage priorities, create/manage work plans, communicate the status of activities, and accumulate/report all chargeable hours.
Maintain a strong client focus and maintain/develop productive working relationships with clients and other team members. Stay informed of current business/economic developments relevant to the industry.
Qualifications and Skill Requirements
3+ years of work experience in Non-Life Insurance in Actuarial domain
A Bachelor’s or Master’s degree with an emphasis in Actuarial Science, Mathematics, Statistics, or a related financial field
Credit for at least five Actuarial Examinations.
Familiarity with actuarial and statistical techniques
Sound programming knowledge is plus – VBA, SAS, R, C++,SQL,JAVA
Ability to multi-task and flexible work attitude.
Good analytical skills. Strong written and verbal communication skills