Duvvapu Soma Sekhar
Senior Group Manager - Actuarial Operations
Chennai
Summary
I have 14+ years of experience in Actuarial Consulting. Worked for various geographies like North America, UK and Indian markets. Worked in a wide spectrum of Actuarial processes like ALM Modeling, Projections, Valuation and Auditing.
Overview
16
16
years of professional experience
5
5
years of post-secondary education
Work History
Senior Group Manager
WNS
Chennai
06.2018 - Current
- In various Actuarial Modelling process across the Life and Annuity business outsourced to WNS
- ALM Prophet Modeling:
- Currently leading a team of 6 members in Actuarial Risk Team for ALM Modeling
- Successful transsion of modeling setup in Offshore
- Manage the models for RP, Fixed/Flexible Payout/DA, EIA, VA, Funding Agreement, UL, IUL, VUL, SGUL, Traditional Life Insurance and Disability Insurance
- Manage ALM Models to support functions such as Financial Plan, Cash Flow Testing, Model Based RBC (C3P1),ORSA and Liquidity
- Integration of ORSA, Liquidity, RBC, US GAAP Models into central workspaces
- Regular FIS Library upgrades for ALS, NAUS and Health
- Played a key role in actuarial model control cycle
- This includes requirements specification, implementation of new functionality, code fixes, testing and reporting of results
- Manage the model development tasks in optimization of Models, Regulatory changes, CR developments, Integrations and User testing, Release Management, etc
- US Model Conversion Project (GGY Axis):
- Led the Offshore Actuarial GGY Axis modelling team for US’s Life Insurance business for one of the largest traditional block
- Successfully completed the project by managing the team of 8 resources developing the models
- Managed the governance starting from baseline to the final model validation
- Documentation of Product Specification for Legacy Models
- Key contributor to the Modernization project from WNS to convert the legacy models to GGY AXIS platforms for a US Traditional block of business, Data solutions, Automation of backend processing, reports etc
- Setting up a master in case of products with the unique features of the Subsidiary models during the consolidation of the merger
- Managed team members for Unit testing, Integration Test & Regression Test
- Documented the entire process with assumptions and was appreciated by management
- Monitored change management for data requirements on both policyholder’s and assumption data
- Responsible for communication of data requirements to the Finance Transformation Data Team by conducting meetings and frequent updates
- Maintained effective communications with model developers to ensure defects / issues are addressed in a timely manner
- Worked closely with reporting teams to understand their modelling requirements and to communicate testing results
- It involves lot of understanding on the impact of developments on Actuarial Reporting and Data teams
Consultant
Deloitte Consulting India Pvt Ltd
Hyderabad
11.2014 - 06.2018
- In advanced actuarial analytics group on consulting projects like Prophet Modeling, Model Testing, Audit of US GAAP & Statutory Reserves for term life, whole life and annuity business
- Aligned to the actuarial modernization center that deals with actuarial tools
- Model Governance Project (US Life Insurance):
- Worked in Model governance and integration of life models for the process, ownership, controls, and documentation requirements necessary to ensure consistent model execution
- Document all routine, and non-routine changes made between quarterly revisions of a production model
- Ensure that all non-routine changes identified are backed by change management and report any model changes that may be unintended
- Modeling Project (Indian Life Insurance):
- Worked in prophet modeling team on Unit linked products for Statutory Valuation and Shareholders reporting models
- The worked involved
- Merged 40 Unit linked models to 4 masters
- Identified similar unit linked products with their product features
- Constructed actuarial models in Prophet; coding of product features, projection of cash flows and reserve items, independent testing, comparisons to prior calculations, and resolution of differences
- Coordinated the integration of multiple development models into the centralised Prophet workspace under very tight delivery schedules
- Maintained regular communications with model developers to ensure defects / issues are addressed in a timely manner
- Working closely with reporting teams to understand their modelling requirements and to communicate testing results
- This involves understanding the impact of developments on Actuarial Reporting and Data teams
- Model Conversion/Testing Project (US Life Insurance):
- Client was looking to convert Life and annuity models from Axis to Prophet
- I have worked on Life and Annuity models in Prophet; coding of product features, projection of cashflow and reserve items, independent testing, comparisons to prior calculations, and resolution of differences
- Coordinated the integration of multiple development models into the centralized Prophet workspace under very tight delivery schedules
- Maintained regular communications with model developers to ensure defects / issues are addressed in a timely manner
- Working closely with reporting teams to understand their modelling requirements and to communicate testing results
- This involves understanding the impact of developments on Actuarial Reporting and Data teams
- Responsible for the version control of actuarial model releases
- Conversion Project (Se2):
- This project involved a conversion from a legacy admin system into the new client system, FAST
- Client was looking to convert its annuity products from their existing policy admin system (i.e., Transcend and VA Mainframe) to a new policy admin system (FAST)
- We created documentation with all the product features around all the annuity products for client
- Which was critical for conversion of annuity products
- Worked in conversion of Fixed Annuity, Variable Annuity and Equity Index Annuity products into new policy admin system
- Worked in completely new configuration of Equity Index Annuity on FAST and also provided post conversion support for annuity products
- Worked in cleaning up of NIGO policies for Variable Annuity and Equity Index Annuity products
- Worked in Ms-Sql Server/Ms-Access and wrote queries to check policies at the back-end of the client and Fast
Senior Professional
DXC Technology, Computer Science Corporation India Pvt Ltd
Chennai
12.2013 - 11.2014
- As Senior Professional in Industry Software and Solutions Group on Life & Annuity and PnC
- Currently working on Designing and Modeling of Universal Life Products in PA (Product Accelerator for Life and Annuity) and VPMS Modeling as per ACORD standards
- The work involved as
- Designed Universal Life Products in PA ( Product Accelerator for Life and Annuity)
- Modeling of Universal Life Products in VPMS( Visual Product Management Software)
- Maintain ACORD standards while designing the products
- Testing of the Models
- Provided training to product implementation team
- Fixing the defects and testing of the models.
Consultant
Deloitte Consulting India Pvt Ltd
Hyderabad
07.2012 - 12.2013
- Worked as Consultant in advanced actuarial analytics group on consulting projects like Prophet Modeling, Audit of US GAAP & Statutory Reserves for term life, whole life and annuity business
- As well as worked on Valuation Support project for Indian Life Insurance Company
- Audit Project (US):
- Worked on detail testing for term life, whole life, and deferred annuities reserve calculation
- The goal of the testing is to independently reproduce the underlying statutory and GAAP reserve balances and key supporting cash flows (differences are acceptable within a pre-defined tolerance level), for a sample of selected policies
- We also perform supplemental procedures and coordinate with the D&T audit team to ensure the accuracy and completeness of the testing data
- Valuation Support ( IND):
- Worked in Valuation team for UAT testing and Year End Reporting
- Creating excel models for newly developed prophet models for unit linked products and conventional products
- Testing of prophet models newly released for conventional and unit linked products
- Regular communication of testing results and this involves understanding the impact of developments
- Surrender scale testing analysis done for two conventional products
- And also supported in year-end IRDA reporting.
Senior Research Analyst
Crisil Research & Analytics
06.2011 - 06.2012
- Analyst for a risk & actuarial group on a Solvency II-related Prophet ALM project
- The work involved international travel
- Capital management & asset liability modeling
- Solvency II modeling and calculation support
- Work performed at the client site in Edinburgh, Scotland
- Constructed actuarial models in Prophet; coding of product features, projection of cashflows and reserve items, independent testing, comparisons to prior calculations, and resolution of differences
- Technical environment includes Prophet, Microsoft SQL server, and Oracle
Senior Analyst
WNS
Chennai
05.2009 - 06.2011
- The work involved international travel
- Developing actuarial models based on different types of products,functionalities, and regulatory requirements including MCEV, IFRS, RBS, ICA,NB reporting
- Worked closely with external consultants during the development of actuarial models
- Involved in the development of models for Aviva’s term assurance portfolio
- Coordinated the integration of multiple development models into the centralised Prophet workspace under very tight delivery schedules
- Involved in monitoring changing data requirements for both policyholder and assumption data files
- Responsible for communicating data requirements to the Finance Transformation Data Team through regular updates
- Involved in the specification, build, and testing of MCEV capability into the new actuarial models
- Responsible for performing unit testing of new models for EEV, MCEV and NBC reporting exercises
- Maintained regular communications with model developers to ensure defects / issues are addressed in a timely manner
- Play a key role in Aviva’s actuarial model control cycle
- This includes requirements specification, implementation of new functionality, code fixes, testing and reporting of results
- Working closely with reporting teams to understand their modelling requirements and to communicate testing results
- This involves understanding the impact of developments on Actuarial Reporting and Data teams
- Responsible for the version control of actuarial model releases
- Work closely with the model automation team to load development models into the production environment
- Development of Excel Macros that aid day to day Prophet Development support tasks
- Keeping abreast of developments to the Prophet modelling platform by monitoring release literature from FIS (Formerly known as Sungard)
Assistant Manager
Reliance Life Insurance Company
Mumbai
09.2007 - 05.2009
- Calculation of actuarial liabilities using Prophet
- Preparing monthly valuation report of actuarial liabilities
- Data validation & analysis
- Prepared “Appointed Actuary Annual Report” and “Actuarial Report and Abstract” required for India regulator
- Prepared Mortality and Lapse experience analysis
- Prepared Financial Conditions Report
- Calculation of Reinsurance Cash Flows (Reinsurance Premium, different Commission)
- Worked in completely new configuration of Term Plans, Whole Life and Unit linked products in Life Asia admin system
- Testing Life Asia Admin system existing and newly configured products.
Actuarial Executive
RGA India Services Pvt. Ltd
Mumbai
06.2007 - 09.2007
- Calculation of Reinsurance Cash Flows (Reinsurance Premium, different Commission)
- Prepared Mortality and Lapse experience analysis
- Data validation & analysis
Education
Master’s - Actuarial Science
Bharathidasan University
Tiruchirappalli, Tamil Nadu, India 08.2003 - 09.2005
Bachelor of Science - Mathematics, Statistics, Computer Science
Andhra University
06.2000 - 06.2003
Skills
Actuarial Softwareundefined
Affiliations
Student Member from Institute of Actuaries of UK & India.
Diploma in Implementation of Client Server Technology in SSI Software Solutions Ltd.
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Timeline
Senior Group Manager
WNS
06.2018 - Current
Consultant
Deloitte Consulting India Pvt Ltd
11.2014 - 06.2018
Senior Professional
DXC Technology, Computer Science Corporation India Pvt Ltd
12.2013 - 11.2014
Consultant
Deloitte Consulting India Pvt Ltd
07.2012 - 12.2013
Senior Research Analyst
Crisil Research & Analytics
06.2011 - 06.2012
Senior Analyst
WNS
05.2009 - 06.2011
Assistant Manager
Reliance Life Insurance Company
09.2007 - 05.2009
Actuarial Executive
RGA India Services Pvt. Ltd
06.2007 - 09.2007
Master’s - Actuarial Science
Bharathidasan University
08.2003 - 09.2005
Bachelor of Science - Mathematics, Statistics, Computer Science
Andhra University
06.2000 - 06.2003
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