Summary
Overview
Work History
Education
Skills
Hobbies and Interests
Roles And Responsibilities
Timeline
Generic

Asad Tarani

The Ponds,Australia

Summary

Versatile Senior Manager specializing in prdouct pricing and skilled at planning, implementing and overseeing key improvements to drive business growth and efficiency. History of cultivating an open culture with free exchange of information. Pursuing new professional challenges with a growth-oriented company.

Overview

7
7
years of professional experience

Work History

Senior Manager

Nauman Associates
02.2023 - Current
  • Client Lead - Part of the Appointed Actuary Team for a Life and General Insurer
  • Coordinated with Actuarial and Accounting Departments for Year End Accounting Valuations
  • Performed Quarterly Solvency Review and provided recommendations for Surplus Transfers
  • Provided Key business analysis and strategic recommendations to Board of Directors
  • Reviewed Expense Analysis and Expense Allocation Studies
  • Reviewed Product Designs and provided suitable recommendations
  • Modelled External Review for Reconciliation of Unit Movements for Unit Linked Portfolios
  • Modelled Cashflows for Pricing of Conventional and Takaful Unit-linked Products
  • Reviewed IBNR Reserves for non-life portfolios and determined reserve adequacies
  • Reviewed/Prepared Actuarial Valuation Reports (AVR) and Financial Condition Reports (FCR) for clients

Senior Actuarial Analyst

EFU Life Assurance LTD
02.2022 - 02.2023
  • Supervised all the product pricing performed by the Actuarial pricing team
  • Contributed to product development efforts, optimizing profitability while maintaining attractive offerings for clients.
  • Performed comprehensive analyses of competitor products to identify market gaps and opportunities for growth.
  • Supervised Quarterly and Annual Submissions such as Maximum Expense Limits, Loyalty Bonus Distribution and Valuation and Performance Evaluation of Distribution Channels
  • Ensured timely completion of annual filings with regulatory bodies by coordinating cross-functional efforts among actuarial staff members.
  • Presented findings from actuarial analyses to executive leadership teams for informed decision-making on business objectives.
  • Mentored junior analysts, enhancing their technical proficiency and fostering a collaborative work environment.
  • Maintained strong working relationships with external auditors to ensure accurate representation of actuarial work in financial statements.
  • Reviewed Cashflows under the Variable Fee Approach (VFA), General Measurement Model (GMM) and the Premium Allocation Approach (PAA) for the Financial Impact Analysis (FIA) under IFRS 17.

Actuarial Analyst

EFU Life Assurance LTD
02.2019 - 02.2022
  • Prepared cashflow model for Pricing of Conventional and Takaful Unit Linked Products
  • Prepared cashflow model for Pricing of non-par Endowment product with guaranteed surrender values
  • Prepared cashflow model for Pricing of life and term certain annuities
  • Prepared cashflow model for Pricing of Supplementary Riders to both Conventional and Takaful Products
  • Collaborated with cross-functional teams to develop new insurance products tailored to specific client needs.
  • Streamlined data analysis processes for improved efficiency and faster results in pricing models.
  • Enhanced communication between actuaries and other departments through clear explanations of technical concepts and methodologies.
  • Mentored junior analysts in the development of their technical skills, fostering a collaborative team environment focused on continuous improvement opportunities.
  • Collaborated with IT teams to implement software upgrades that improved efficiency within the Actuarial department.

Actuarial Assistant

EFU Life Assurance LTD
01.2018 - 02.2020
  • Prepared product illustrations for unit-linked and traditional term assurance plans
  • Prepared alteration illustrations for in-force policies
  • Assisted in pricing new products with thorough research and competitive analysis.
  • Designed new products and prepared the required documentation for appointed actuary and regulatory approval
  • Developed comprehensive reports for senior actuaries, providing valuable insights into key performance indicators.
  • Evaluated quarterly performance of major distribution channels
  • Created user-friendly tools for non-actuaries within the organization, promoting better understanding of complex concepts.

Education

Associate -

Institute and Faculty of Actuaries
07.2021

BS - Actuarial Studies

Macquarie University
North Ryde, Sydney
12.2017

Skills

  • Excel
  • VBA
  • Word
  • Powerpoint
  • R Language
  • Documentation And Reporting
  • Data Analytics
  • Strategic Planning
  • Cross-Functional Collaboration

Hobbies and Interests

  • Cricket
  • Debating
  • Reading
  • Traveling

Roles And Responsibilities

3 years, Supervising all the product pricings performed by the products team, Product Analysis and Market research, Supervising Quarterly and Annual Submissions such as Maximum Expense Limits, Loyalty Bonus Distribution and Valuation and Performance Evaluation of Distribution Channels, Product Illustrations, system implementation, regulatory submissions and communication, Product Documentation for regulatory approval, Preparing Analysis and Presentations for the Annual General Meeting of the Company, 4 years, Modelling Cashflows for Pricing of Conventional and Takaful Unit Linked Products, Modelling Cashflows for Pricing of non-par Endowment product with guaranteed surrender values, Modelling Cashflows for Pricing of life and term certain annuities, Modelling Cashflows for Pricing of Supplementary Riders to both Conventional and Takaful Products, Assumption setting and review, 6 months, Part of the IFRS team responsible for completing the Financial Impact Assessment in 2022, Setting Assumptions for IFRS 17 based cashflows, Review Cashflows under VFA, GMM and PAA, 1 year, Coordinating with Actuarial and Accounting Departments for Year End Accounting Valuations, Quarterly Solvency Review and Recommendations of Surplus Transfers, Key business analysis and strategic recommendations to Board of Directors, Overview of Expense Analysis and Expense Allocation Studies, Overview of Product Design and Product Recommendations, Modelling External Review for Reconciliation of Unit Movements for Unit Linked Portfolios, Modelling Cashflows for Pricing of Unit Linked and Takaful Products, Reviewing IBNR Reserves for non-life portfolios and determining reserve adequacies, Reviewing/Preparing AVR and FCR for the client

Timeline

Senior Manager

Nauman Associates
02.2023 - Current

Senior Actuarial Analyst

EFU Life Assurance LTD
02.2022 - 02.2023

Actuarial Analyst

EFU Life Assurance LTD
02.2019 - 02.2022

Actuarial Assistant

EFU Life Assurance LTD
01.2018 - 02.2020

BS - Actuarial Studies

Macquarie University

Associate -

Institute and Faculty of Actuaries

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Asad Tarani