Assistant Manager - BADRI MANAGEMENT CONSULTANCY - Pakistan
(2022-06)
- Conduct quarterly reviews of insurance reserves for Motor, Medical, Marine, and other general insurance lines. Work closely with clients to estimate reserves for large commercial insurance, such as Engineering and Fire, and provide analytical reports.
- Assist in audit reviews for IFRS 4 and IFRS 17 to ensure compliance with regulatory standards for UAE and KSA clients.
- Calculate cashflows for insurance liabilities, including future claims and ongoing coverage, under IFRS 17.
- Analyze and apply risk adjustments and discounting methods to insurance cashflows as per IFRS 17 guidelines.
- Ensure high-quality financial data for IFRS 17 reporting using the Addactis accounting software.
- Conduct semiannual and annual underwriting strategy reviews for clients, assessing pricing parameters and market trends. Meet with the underwriter's midyear to adjust strategies based on changing market conditions.
- Support in preparing and presenting reports and materials for client meetings.
- Oversee workflow to ensure timely and accurate delivery of client reports and insights.
Senior Actuarial Analyst - JUBILEE LIFE INSURANCE COMPANY - Karachi, Pakistan
(2021-01 - 2022-05)
- Responsible for Group Health Valuation of both Conventional and Takaful funds on monthly basis in which we calculate (IBNR Reserve, UPR (Unearned Premium Reserve, Claims Reconciliation, Profit Commission Reserve, Report reinsurance claims and premiums to finance department, Loss Ratios, Solvency).
- Responsible for IBNR (Incurred but Not Reported) Adequacy every quarter.
- Responsible for Making of Reinsurance Accounts every quarter.
- Prepared group health business analysis reports every quarter for board meetings.
- Financial Conditional Reporting (FCR) in which we report no of policies, premium sum assured, Mathematical Reserves which is (IBNR & UPR) and Solvency of group health conventional and takaful portfolio.
- Performed projection for premiums, claims, IBNR, UPR and profit of group health conventional and takaful for future months and years.
- Monthly evaluation of Solvency Position.
- Delegating work to junior colleagues.
- Reviewing the illustration program for different unit linked policies.
Actuarial Analyst - JUBILEE LIFE INSURANCE COMPANY - Karachi, Pakistan
(2019-04 - 2020-12)
- Responsible for the preparation of illustrations in case a unit-linked policy is altered and for the preparation of special illustrations.
- Supervised converting the 130 & above illustration programs into digitalization channel through application and same has checked each programs technically before launching. This helps us in our sales department to prepare the illustrations through application.
- Responsible for Making of illustration and endorsement programs of different type of products offered by jubilee life insurance company.
- Responsible operational tasks like (Profit Commission requirements from group Health admin, Data for Financial Access Survey (FAS) From Accounts, Reports new reinsurance policies to reinsurer, Policy Holder Liability data for accounts, Data requirements for auditors).
- Trained new colleagues to understand knowledge of illustration programs and new Individual life Products.
Junior Executive Officer (Actuarial) - JUBILEE LIFE INSURANCE COMPANY - Karachi, Pakistan
(2016-07 - 2019-03)
- Running reports for valuation.
- Responsible for providing the valuation data for auditors.
- Responsible for providing the Loss Ratios for group heads.
- Daily making special endorsements and illustration of different policies.
- Coordinate with the Under Writing (UW) department. on a regular basis for the issuance of policies.
Assistant Executive Officer (Investment Section) - JUBILEE LIFE INSURANCE COMPANY - Karachi, Pakistan
(2015-07 - 2016-06)
- Calculate NAV (Net Asset Value) of six funds daily.
- Making Fund Performance of different funds to analyze returns of fund.
- To gather industry data, financial statements of companies listed on KSE 100 index and their historical prices and all data to analyze dividend history, price history, risk and return of the companies.
