Manager - Solvency II Reporting (Actuarial)

Job Summary-:

The Senior Manager – Solvency II Reporting will lead and oversee actuarial solvency reporting, technical provisions, capital calculations, and regulatory submissions for the Life Insurance business. The role requires strong technical knowledge of the Solvency II framework, actuarial valuation methodologies, capital modelling, and regulatory reporting requirements. The individual will be responsible for ensuring the accuracy, integrity, and timeliness of solvency reporting, strengthening reporting controls, driving process improvements, and partnering with senior stakeholders across Actuarial, Finance, Risk, and Regulatory Reporting.

Key Responsibilities

A. Solvency II Regulatory Reporting

• Lead the preparation, review, and submission of Solvency II regulatory reports, including Quantitative Reporting Templates (QRTs), ensuring accuracy and adherence to regulatory deadlines.
• Oversee the preparation and review of the Solvency and Financial Condition Report (SFCR) and Regular Supervisory Report (RSR), where applicable.
• Ensure compliance with relevant Solvency II regulations, reporting standards, and internal governance requirements.
• Manage reporting calendars, review processes, reconciliations, and quality assurance controls.
• Monitor regulatory developments and assess their implications for actuarial reporting and business processes.

B. Actuarial Valuation & Technical Provisions

• Oversee the calculation, validation, and analysis of Solvency II technical provisions, including Best Estimate Liabilities (BEL) and Risk Margin.
• Review actuarial assumptions relating to mortality, longevity, morbidity, lapses, expenses, and other relevant risk factors.
• Analyse movements in technical provisions and provide explanations for material variances.
• Ensure appropriate reconciliation between Solvency II, local statutory, and other applicable reporting bases.
• Challenge actuarial results and assumptions to ensure consistency, robustness, and compliance with applicable methodologies.

C. Solvency Capital & Risk Assessment

• Lead or oversee the calculation and analysis of the Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR), as applicable.
• Review capital requirements across relevant risk modules, including life underwriting, market, counterparty default, and operational risks.
• Conduct stress testing, scenario analysis, and sensitivity assessments to evaluate the impact of changes in assumptions and market conditions.
• Monitor solvency coverage ratios, analyse key drivers of movement, and communicate findings to senior management.
• Contribute to Own Risk and Solvency Assessment (ORSA), capital planning, and risk management activities, where applicable.

D. Governance, Controls & Audit

• Establish and maintain robust reporting controls, validation checks, reconciliations, and documentation standards.
• Coordinate with internal and external auditors on actuarial reporting, valuation methodologies, and supporting evidence.
• Address audit observations and regulatory queries, ensuring timely resolution of identified issues.
• Support actuarial model governance, validation, change management, and documentation requirements.
• Ensure effective data quality management and adherence to internal risk and control frameworks.

Educational Qualifications

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or a related quantitative discipline.
• Progress toward or qualification as an actuary through the Institute and Faculty of Actuaries (IFoA), Institute of Actuaries of India (IAI), or an equivalent recognised professional body.
• Relevant actuarial examinations in life insurance, reserving, capital, or risk management are preferred.

4. Experience Required

• Typically 4–6 years of relevant actuarial experience, preferably within Life Insurance.
• Demonstrable hands-on experience in Solvency II reporting, technical provisions, capital calculations, and regulatory submissions.
• Experience reviewing QRTs and preparing or reviewing SFCR and RSR documentation, where applicable.
• Strong understanding of life insurance products, actuarial assumptions, liability valuation, and solvency capital methodologies.
• Experience managing reporting deliverables, stakeholder expectations, audit requirements, and process improvements.
• Prior experience leading a team or managing complex cross-functional deliverables is desirable.

Technical Skills

• Strong knowledge of the Solvency II framework and associated regulatory reporting requirements.
• Expertise in Best Estimate Liabilities (BEL), Risk Margin, SCR, MCR, and solvency coverage ratios.
• Experience with actuarial modelling tools such as Prophet, MoSes, RAFM, or equivalent platforms.
• Advanced Excel skills; knowledge of SQL, Python, R, or reporting automation tools is an advantage.
• Strong analytical, reconciliation, data validation, and problem-solving capabilities.
• Understanding of actuarial model governance, internal controls, audit, and regulatory compliance.