Actuarial Analyst (Life/Non-Life)

About KPMG India

KPMG India is a network of professional service firms affiliated with KPMG International Limited, established in India since August 1993. The firm operates offices across multiple cities in India and provides services to national and global clients, leveraging expertise in local laws, markets, and competition to deliver rapid, industry-specific, and technology-enabled solutions.

Primary Responsibilities

• Support comprehensive IFRS 17 implementation, including designing and validating models for GMM, VFA, and PAA approaches.
• Conduct contract grouping and unit of account assessments along with calculation, release, and analysis of the Contractual Service Margin (CSM).
• Interpret IFRS 17 accounting principles and translate these into actuarial and system-level requirements, using actuarial software tools such as Prophet, RAFM, Moses, or Axis.
• Assist with dry runs, parallel runs, and post-implementation activities, and prepare/review related IFRS 17 disclosures and reconciliations.
• Collaborate closely with Finance teams to ensure alignment between actuarial and accounting outputs.
• Perform Solvency II valuations, including technical provisions like Best Estimate Liabilities (BEL) and Risk Margin, and support Solvency Capital Requirement (SCR) calculations through both Standard Formula and Internal Models.
• Contribute to Pillar III reporting including Quantitative Reporting Templates (QRTs), narrative reports, and regulatory submissions, assuring consistency among Solvency II, IFRS 17, and local GAAP results.
• Develop, refine, and maintain actuarial models for life insurance products such as Participating, Non-Participating, ULIP, Annuities, and Protection products covering cashflow modelling, assumptions, and economic scenarios, while enhancing model automation and robustness.
• Support model validation, audit processes, and collaborate with data, IT and systems teams for model integration.
• Conduct IGAAP actuarial valuations encompassing reserves, embedded value, bonus valuation, and policyholder liabilities; ensure consistent reconciliation between IGAAP, Solvency II, and IFRS 17 metrics, and assist in statutory audits and regulatory investigations.
• Maintain active stakeholder engagement across Finance, Risk, Product, IT, as well as external auditors, regulators and consultants; handle actuarial documentation, methodology papers, and presentations with compliance to actuarial standards and governance frameworks.

Required Qualifications and Skills

• Bachelor’s or Master’s degree in actuarial science, statistics, mathematics, or a related quantitative discipline.
• Progress towards actuarial professional certification such as IFoA, IAI, SOA, or CAS, preferably at Associate or Fellow level.
• Proven expertise in IFRS 17 standards and their actuarial application.
• In-depth knowledge of Solvency II regulatory requirements and valuation methods.
• Experience with various life insurance product valuations and IGAAP actuarial analysis.

Equal Employment Opportunity

KPMG India is committed to providing equal opportunities for all applicants and employees irrespective of race, caste, religion, age, gender, nationality, disability, sexual orientation, or other legally protected characteristics. Voluntary submission of demographic information is welcomed to support diversity efforts and will not influence hiring decisions.