Executive Director- Actuarial -Property and Casualty (P&C) , GDS Business Consulting
Location
Bangalore | India
Job description
At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all.
Location- Any GDS Location
EY Global Delivery Services (GDS)
- Global Delivery Services (GDS) is a global priority for the firm. GDS is an important component of EY’s Next Wave strategy and has an ever-increasing shared services footprint across the world, including six centres in India (Bangalore, Chennai, Gurgaon, Kochi, Kolkata and Trivandrum), and in Argentina, China, Poland, UK and the Philippines. GDS headcount is currently at about 43,000 + across locations.
- EY provides actuarial services to the financial services industry. In FY22, EY will deliver approx. 2 million actuarial service hours with 2,200 professionals to our financial services clients across Americas, EMEIA and Asia Pacific. The business is poised for a strong growth due to major regulatory changes, ongoing economic uncertainties, technology-driven disruptions and increasing consumer expectations
- The GDS actuarial practice supports the firm in delivering actuarial services globally. In FY22, the team will deliver approximately 220,000 client service hours of work, with ~9% integration, serving over 600 Channel 1 clients and over 150 Channel 2 clients across multiple geographies. The team has achieved a year-on-year (“YOY”) growth of 40% for the last 2 years and the growth is expected to be 25% YOY for the next 3 years. We expect this book of business to expand to 285K (~ 240 FTEs) by FY23 as GDS integration expands across existing and newer markets. There is a strong potential for even higher growth considering the large actuarial transformation deals, significant audit wins (Zurich Insurance Group, Munich Re AXA, Prudential and AVIVA) and the upsurge in demand we have seen in the recent past.
- The proposed Executive Director will lead the actuarial team within GDS Consulting. The key functional responsibilities of this position are outlined below
Drive EY revenue / topline growth, GDS integration and firm’s overall profitability
- Implement EY’s global strategy for EY GDS actuarial business with focus on P&C ( Property and Casualty )
- Drive cross collaboration as GDS Insurance Business Consulting Leader and help increase GDS integration across insurance solutions (Property and Casualty )
- Drive pursuits, and enable EY member firms in winning more actuarial business by pricing services more competitively, sharing capabilities across markets, and help improve margin by applying the global delivery model
- Enable GDS integration across geographies including US, UK, Switzerland, Netherlands, France, Germany, Singapore, Australia, Hong Kong
Acquire, develop and retain talent
- Lead GDS actuarial team and provide guidance to Business Consulting insurance teams (( Property and Casualty )) where needed.
- Supervise a team of approximately 180 actuarial professionals in FY22, expected to grow to ~300 professionals by FY24
- Oversee talent acquisition, development, and retention; learning and development programs to support our global strategy
- Develop a strong senior management team for the business
Manage operations and oversee delivery
- This role requires a hands-on leader who can provide technical guidance to the team and sign-off on internal actuarial audit reports on Property and Casualty
- Establish quality management practices to ensure that quality of deliverables meets / exceeds regulatory, client and firm’s internal quality expectations
- Drive automation and innovation in actuarial services by collaborating with other SSLs
Knowledge required for disciplines:
Technical: Should be an actuarial professional with relevant specialization in any of the following areas - Life Insurance, General Insurance, Pensions, Investments. Preferably a credentialled (Associate or Fellow) actuary. Preferably having worked in international markets and experience in the insurance industry, consulting and offshoring organizations.
Managerial: Should have experience of leading large actuarial teams and managing clients/stakeholders across multiple regions.
Behavioral: Building trust with stakeholders and team, taking others along, leading by example, encouraging innovation and recognizing achievements
Primary duties and responsibilities:
- Generate new business and drive growth – new solution offerings, new markets, new clients
- EY Global internal stakeholder and external client management
- Delivery oversight
- Acquire, develop and retain talent
- Improve and optimize operational metrics
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