Primary Key Responsibilities
- Core technical responsibilities for the role

Actuarial Modelling Core Functions

Model Development Model Operations Model Testing Financial Impact Testing
- Model(s) are Risk Agility FM
(RAFM) based which is an
upgraded version of MoSes,
- Understand the Business
requirement(s) from the model
users,
- Prepare/ review the functional
specification and design
document for in scope
developments,
- Engage with model users/
stakeholders to devise a
change/ enhancements fitting
the current model architecture
and agree on a testing/
validation approach,
- Develop detailed plan with
agreed scope, timelines and
resource requirement for any
change/ enhancement,
- Develop/Review and unit test
the changes/ enhancements to
the RAFM model,
- Keep a thorough audit trail
with detailed documentation of
any changes made to the
model.

- Understand the Business
requirement(s) from the model
developer and users for all the
components in the operation
team,
- Develop/ Review and maintain
the in-house Assumption
Management System which is a
VBA based excel tool,
- Develop/ Review and maintain
application Unify which helps us
to automate the production
process (VBA and Python must
have skill to support Unify),
- Develop/review the data
creation process and result
extraction tools of the changes
required for every model
release,
- Keep a thorough audit trail
with detailed documentation of
any changes made to each of
the component(s).

- Understand the model change/
enhancements made to the
model,
- Engage with model users/
stakeholders to devise a detailed
test plan (End to End, regression &
Functional testing) to validate the
model,
- Functional testing – Model
Baselining to validate the RAFM
model coding changes/
enhancements,
- End to End Testing - performed
to ensure that the full Results
Production process works as
required, normally based on tying
results back to the results
produced during the
development, or previous
production results where no
change has occurred,
- Test/ Review the IFRS 17
calculation engine,
- Document the changes to the
model and testing the changes
made for audit trail and approval
from users and modelling lead(s),
- Review the Model change
document,
- Proactively communicate
change/ defects to concerned
teams like
modelling/assumptions/ data etc.
and retest the defects raised.

- Understand the model change/
enhancements made to the
model,
- Review/ develop a detailed plan
with agreed scope, timelines and
resource requirement to carry out
financial impact testing,
- Demonstrate a good
understanding of balance sheet
and P&L and able to explain the
impact of modelling changes on
them,
- Explain the step-through
movement from previous results,
- Carry out/guide/support overall
financial impact analysis created
using standardised and automatic
tools,
- Document/Review the analysis
carried out
- Conduct walk-through of results
to stakeholders /leadership team.

- Problem Solving
 Maintain and develop knowledge of technical requirements of job together within the model governance framework,
 Ability to develop clear, workable plans for self and team; monitor progress; ensure deadlines and commitments are met,
 Ability to confidently express own viewpoint and to clearly communicate any issues within their team.
- Working Together & People management
 Ability to manage a 2-3 member team,
 Ability to optimally prioritise the workload within the team,
 Ability to deliver on multiple tasks to demanding timescales,
 Develop positive network and maintain a healthy working environment.
Additional Responsibilities :
 Compliance – Ensure understanding and adherence to M&G India’s Code of Conduct and where appropriate, comply with all
relevant regulatory policies. This includes completion of any mandatory training,
 Assertively communicate with the stakeholders and independently execute the tasks that they allocated,