Actuarial Life Modelling Associate

About PwC

PwC, as a business advisory organization, provides strategy management, accounting, auditing, taxation, and human resource consultancy services for its clients. PwC clients cut across various industries such as insurance, hospitality, defence, energy, aerospace, health care, banking, automotive, consumer markets, transport, etc.

Your role

As an Associate, you'll work as part of a team of problem solvers, helping to solve complex business issues from strategy to execution. PwC Professional skills and responsibilities for this management level include but are not limited to:

• Invite and give in-the-moment feedback in a constructive manner.
• Share and collaborate effectively with others.
• Identify and make suggestions for improvements when problems and/or opportunities arise.
• Handle, manipulate and analyze data and information responsibly.
• Follow risk management and compliance procedures.
• Keep up-to-date with developments in the area of specialism.
• Communicate confidently in a clear, concise, and articulate manner - verbally and in the materials I produce.
• Build and maintain an internal and external network.
• Seek opportunities to learn about how PwC works as a global network of firms.
• Uphold the firm's code of ethics and business conduct.

You will play an integral role in leveraging sophisticated actuarial software to develop, test, and run models that perform a variety of complex calculations for their life, annuity, and health insurance clients which includes the following but are not limited to:

• Supporting the audits of several of the largest insurers in the world. This includes public, private, and mutual insurers. It also includes the insurance operations of several banks and private equity firms. 
• Primarily using Axis and Prophet but also using other vendor software or working on models developed by the clients.
• Designing, building, and testing new models for clients. They also convert existing models to models supported by other vendors. The models are used for financial and capital reporting, testing client models, and mergers and acquisitions activities.
• Using these actuarial models, the team also performs valuation and reporting services for clients as part of the managed service offering.

Specific responsibilities include:

• Participating in a wide range of projects and collaborating across multiple work streams or teams; consistently demonstrating creative thinking, individual initiative, and timely completion of assigned work.
• Consistently demonstrating teamwork dynamics by working as a team member: understanding personal and team roles; contributing to a positive working environment by building solid relationships with team members; proactively seeking guidance, clarification, and feedback.
• Ability to prepare deliverables within stringent deadlines.
• Keep up to date with local, national, and international business and economic issues.
• Contribute to the development of your own and your team’s technical acumen.
• Serve as a participant in communications with numerous Engagement teams

A career in this practice will provide you with the opportunity to help organizations by providing technical actuarial services. You will have the opportunity to specialize in some of the following:

• Demonstrating some proven knowledge of, and/or success in managerial roles involving, technical actuarial subject matter specialization, especially in the Life or Non-Life industry and regulatory developments. 
• Demonstrating some proven knowledge of database structures and data process flows.
• Demonstrates some proven abilities and/or success with using actuarial software, preferably Axis or Prophet. 
• Demonstrating some proven abilities and/or success as a team leader: creating a positive environment by monitoring the workloads of the team while meeting client expectations and respecting the work-life quality of team members; providing candid, meaningful feedback promptly; keeping leadership informed of progress and issues; answering questions and providing direction to less-experienced staff. 
• Demonstrating some proven level of abilities and/or success with writing, communicating, facilitating, and presenting cogently; to and/or for all levels of industry audiences, clients, and internal staff and management.

Training, development & rotations

PwC is committed to empowering employees to do their best work - and to do your best work, you need to constantly learn, grow, and become a better version of yourself. With the support of the team, PwC helps you to reach your potential through a variety of offerings, such as:

• They provide opportunities for job rotations through specific programs, which allow their people to gain experience and expand their horizons while also encouraging cross-team collaborations.
• They give opportunities to use your expertise through your on-the-job experiences.
• They reward and recognize your knowledge, skills, and experience acquisition.

Salary & benefits 

The annual salary for this role can range from INR 3.6 to INR 6.1 LPA. (source: Ambition Box).

Benefits offered to its employees include;

• Health insurance
• Student Loan Paydown benefit
• Committed to everyday flexibility
• Insurance & other financial programs
• Family support

Work-life balance

Working at PwC requires personal commitment and endurance. And this is why they take care of their team - it’s all made possible by having a good team atmosphere, fun at work, tasks bearing real responsibility together with flexibility on both sides, and mutual respect for one another. So to make sure that you’re ready to face the challenges of the working day, they also offer you the chance to get away from things and recharge your batteries.

They do this by looking at people’s situations and offering, for example, part-time models or time out to brush up on your learning. Now of course there will be times when things get especially hectic, like for example during the busy season when it comes to the audits of their clients. To address this issue, they make sure that employees who have to work especially hard during this time can have a bit of a break. So some might choose to take time in lieu or forsake a premium to gain additional holiday, which means that four-week summer holidays are anything but an exception to the rule. This is because they truly appreciate your commitment.

Culture & vibe

PwC is an employee-centric organization. The company supports and encourages the personal and professional development of its employees. The company's culture is steeped in a collaborative work environment where knowledge and ideas are shared. 

PwC welcomes different perspectives, ideas, and people, making it an inclusive and diversity-friendly organization. They also welcome the feedback of their employees, encouraging staff members to find their voice and contribute to the decisions made. This is the perfect place for interns and fresh graduates to begin their careers. They learn and grow as they work. 

About You

Requirements -

• Bachelor’s in Finance/Economics/Mathematics/Statistics (B. Com, B.A (Economics) B.Sc. with Economics / Mathematics / Statistics Hons)
• Actively pursuing Membership / Associateship of the Institute and Faculty of Actuaries / Institute of Actuaries of India (or equivalent) with a minimum of 2 Actuarial papers cleared
• Work Experience - 0 to 1 year

How to apply

To apply for this role, just click on the "Apply on employer site" button below, which navigates to the career page where the application can be submitted directly.