Team Overview

KGS Actuarial Services team is providing Actuarial services to multiple KPMG member firms. It operates in a team extension model where KGS colleagues are mapped to service a member firm and participates in all types of actuarial work that the member firm has to offer. The primary member firms it services are KPMG UK and US. These member firms provide a healthy mix of advisory and audit experience and are leading Consultant in their geographies on regulatory changes like IFRS17 and in bringing innovation to its client. The use of machine learning in the area of Non-life reserving; advance use of technology in audit engagement setup, analysis and visualization are a few examples of the nature of work that the team is currently engaged with. Our team probably is one of the most experienced in India for its scale and operates in one of the best collaborative environments.

Roles & responsibilities

1.      Technical and Communication:

i)        Actuarial Audits:

·        Audit of the client’s half-yearly and yearly actuarial reserves for true and fair view.

·        Review of USGAAP and US Stat methodology, model changes, assumptions, cash flows, controls and results

·        Independent policy level recalculations of US Life and Annuities products.

·        Work with broader audit teams and clients to lead on part of the audits.

ii)      Advisory support

·        Modelling and model validation support on multiple actuarial platforms.

·        Appraisal Value/Transactions/Embedded Value Review: Provide transaction and due diligence support to the client; including performing independent validation of Actuarial calculations.

·        Assist client with understanding and implementing the new regulations e.g. LDTI, etc.

·        Assist with actuarial system transformation.

2)      Managerial:

·        Perform as an engagement manager on audit and advisory engagements. As we operate in a team extension model a KGS engagement manager has the same opportunity as that of an onshore engagement manager. Communicate with engagement managers/Directors/partners with member firms and build strong professional relationship.

·        Responsible for managing the performance of their reportees Understand the organization targets and take ownership of its implementation.

·        Provide regular updates to stakeholders and discuss solutions to potential problem areas Assist in day-to-day management activities including MI reporting.

Educational qualifications Graduate/Post-graduate with a strong background in mathematics and statistics

Work experience 8-12 years of relevant Actuarial experience. Member of Institute of Actuaries (UK), SoA and CAS of US and/or Institute of Actuaries of India and must have passed significant actuarial exams from any of these institutes.

Mandatory Skills

·        USGAAP and USSTAT exposure, including review of methodology, modelling and model changes, experience analysis and assumptions, data, results and association documentation.

·        Knowledge of US annuity products (FIA, VA, MYGA and IA).

·        Ability to understand and interpret Actuarial professional/technical standards and regulations.

·        Excellent written and verbal communication skills

Preferred Skills Knowledge of modelling software like Prophet, Axis or languages like Python etc