Job description 

Technical Senior Specialist, FP&A - IN
Through business analysis, financial record-keeping, modeling and forecasting, this job helps drive the strategic direction of the organization. Under general supervision, this job also provides financial insights that senior management uses to inform business and financial decisions.

Key Responsibilities and Duties

• The Technical Specialist job is responsible support to the Financial Planning & Analysis business unit by reviewing and analyzing the financial results of the organization using business intelligence and automation tools
• Under general supervision, this job also provides financial insights that senior management uses to inform business and financial decisions.

Educational Requirements

• University (Degree) Preferred

Work Experience

• 5+ Years Required; 7+ Years Preferred

Career Level
8IC
 

Job Description

Job Title: Associate / Senior Associate, Actuarial Services

Business Area: Finance

Job Location: Mumbai

Position Summary:  Describe below the primarypurpose and function of this job

At TIAA, we’re guided by a common purpose to help make financial lives better by connecting clients and communities to the resources they need to be successful. We’re looking for the financial advisors—those with a keen desire to learn, passion for people and drive to make clients’ financial lives better. You’ll advise and guide clients on how to achieve their financial goals. Additionally, you’ll be equipped with the expertise to support them with tools and resources.

Within Actuarial Services, ALM works closely with the GA CIO, Asset Management, and Risk Management and is primarily responsible for strategic asset allocation analyses, asset-liability stress-testing, economic capital framework, and interest rate risk management. ALM also works with GAO and Product Actuarial on investment strategies for new products and is responsible for maintenance and calibration of the economic scenario generator

Leverage mathematical, analytical and programming skills and knowledge of actuarial / financial concepts to perform analyses and resolve complex problems. Provides actuarial, and quantitative assistance with respect to asset liability analyses. Support financial analysis, surplus evaluation, running stochastic models, Excel VBA macros and python script. Apply understanding of applicable laws and regulations to specific job functions. Propose improvements to projects and design asset/liability analysis to address requests/questions from various stakeholders. 

Key Duties & Responsibilities:  List up to 5 key duties and responsibilities, management responsibilities and time spent (if applicable)

• Calculate Economic Capital and conduct associated analysis related to asset liability model outputs
• Run stochastic projection models and python scripts to calculate returns for financial subsidiaries  and feed returns into scenario file
• Develop/maintain Excel/VBA macros and python scripts to produce analytical results as related to stress testing and Economic Capital, handle scenario data, and do various calculation of risk/return metrics.
• Implement, test and document the new database/Python/Power BI platform to be used for ALM analytics    and reporting
• Develop relevant data transformations, reports and analytics in the oracle database and in Power BI to help the team perform routine and ad hoc ALM analyses
• Develop necessary controls and validations to ensure data integrity across the process
• Manage and analyze large quantities of data arising from model input, assumption review and model output analysis processes.
• Summarize results and put power point slides together in an accurate and timely manner
• Help enhance existing metrics or develop new metrics that can be used for comparing impacts of various initiatives and informing management decisions. Help enhance the process for optimizing participant returns while balancing risk to TIAA’s surplus.
• Explain analytical results and find root cause of observations
• Assemble ALM reporting materials and address questions/requests from various stakeholders

Impact:

Nature of Impact – Creates business impact by providing effective ALM reporting & Analytics to support decision making.

Area of Impact – Job is primarily related to Actuarial Services..

Problem Solving:  What is nature and complexity of the problems or decisions encountered? Are analytical skills needed?

Analytical skills are needed in order to perform reporting as well as intake ad-hoc requests to support decision making by business partners.

Functional Knowledge:  What knowledge of concepts, process, principles or procedures is needed within discipline; SME?

Must have quant brackground along with the basics of Actuarial Services and ALM understanding

Business or Industry Expertise:  Describe the degree of knowledge and understanding required of TIAA’s business and industry, commercial environment and of competitors products and services.

Financial services industry experience preferred.

Interactions / Interpersonal Skills:  Describe the nature and level of interactions this job has with others, both internally and externally.  Explain any specific interpersonal skills necessary to successfully perform this role (i.e., negotiation skills, represents business at external events or to governmental bodies, etc. ).

• Strong oral and written communication skills; tailors messaging and reporting to audience.
• Ability to interface effectively with team and business partners.

Job Requirements And Qualifications:  Indicate the minimum and preferred education and experience for the job and any licenses and certifications required

Required Education:

BA/BS

A combination of a Bachelor’s Degree in a Quantitative subject such as Finance, Economics, Mathematics, Statistics or Engineering required

Preferred Education:

Masters

Business Administration

Required Experience:

• 5+ years of ALM, modeling, financial engineering or other actuarial experience
• Bachelor’s degree in Quantitative field (Math, Actuarial, Engineering or Physics)
• Excel, VBA, Python and PowerPoint skills
• Attention to detail and able to conduct calculation and analysis accurately
• Strong analytical, verbal and written skills

Preferred Experience:

• Demonstrate outstanding quantitative and technical skills and able to read, interpret and draw accurate conclusions from financial and numerical material
• Strong Python, R programing skills
• Excellent problem solving analytical skills, detail-oriented, independent thinking, time management and organizational skills
• FSA and/or CFA
• Annuity or Pension experience
• Experience with stress testing, economic capital and asset strategies
• Experience with capital markets, various asset classes and economic scenario generation
• Experience with internal audit and other regulatory reviews

Skills and Abilities:

• Must have the ability to interpret technical-level data with a functional-level understanding of risk analytics.
• Must have strong problem-solving skills, including the ability to formulate solutions to non-routine problems.
• Advanced spreadsheet management skills required. Excel VBA preferred.
• Knowledge of statistics and advanced mathematics.
• Must be detail-oriented, self-motivated and capable of working independently.

Related Skills

Accountability, Adaptability, Business Acumen, Collaboration, Continuous Improvement Mindset, Critical Thinking, Data-Based Decision Making, Financial Acumen, Financial Analysis, Influence, Relationship Management, Story Telling, Strategic Thinking, TIAA Products/Services Acumen, Variance Analysis