POSITION SUMMARY:

This position is responsible for leading the Karachi-based actuarial team and managing day-to-day operations related to the individual long-term life insurance business. The role covers pricing, reserving, product development, reinsurance coordination, budgeting, and experience monitoring. The position ensures delivery of actuarial support to internal teams and interaction with external stakeholders using Excel-based models and tools.

PRINCIPAL ACCOUNTABILITIES & RESULTS:

·        Lead the actuarial team in Karachi responsible for individual long-term insurance business.

·        Oversee pricing and profit testing of new and existing life insurance products.

·        Supervise statutory reserving and internal liability reporting.

·        Manage experience studies for mortality, lapses, persistency, and expenses.

·        Coordinate with IT for development and implementation of product features.

·        Provide actuarial input for business planning and budgeting.

·        Support reinsurance activities including pricing coordination and reconciliations.

·        Monitor and analyze product performance, recommending corrective actions.

·        Compile actuarial inputs received from corporate actuarial team for group-wide reporting.

·        Provide actuarial support to Finance, Distribution, and Product Development teams.

Supervisory responsibilities:

Direct Reports: Assistant Manager(s), Actuarial Associate(s), Actuarial Technician(s)

Indirect Reports: Actuarial Trainee(s)

DIMENSIONS:

Budget: Responsibility for cost/revenue allocated budget

DECISION MAKING AUTHORITY:

Important Decisions/ Decisions you are expected to take:

·        Pricing of individual products within internal frameworks

·        Reserving estimates and methodologies using Excel models

·        Compilation of actuarial inputs for budgeting and business plan

Decisions that you propose and the boss needs to authorize:

·        Revisions to underperforming products or pricing structures

·        Changes to assumption sets with material business impact

·        Recommendations for new product designs

KEY CONTACTS:

Internal Contacts

·        Finance

·        IT

·        Operations

·        Distribution

·        Product Development

·        Reinsurance

External Contacts

·        Appointed Actuary

·        SECP

·        Reinsurers

·        Bancassurance and other distribution partners

SKILL SET:

Qualifications/ Experience/ Capabilities

·        Minimum: Near Associate of the Society of Actuaries (SOA) or equivalent

·        Desired: Associate of the Society of Actuaries (SOA) or equivalent

·        Experience: 4–5 years of relevant actuarial experience in individual life insurance

Skills:

·        Proficiency in Excel-based actuarial modeling

·        Strong analytical and data interpretation abilities

·        Good understanding of life insurance concepts and internal operations

·        Clear and structured communication

Competencies:

·        Leadership and team management

·        Planning and execution

·        Actuarial judgment and problem-solving

·        Cross-functional coordination

·        Business and regulatory awareness

Last Date To Apply