About KPMG in India
KPMG entities in India are professional services firm(s). These Indian member firms are affiliated with KPMG International Limited. KPMG was established in India in August 1993. Our professionals leverage the global network of firms, and are conversant with local laws, regulations, markets and competition. KPMG has offices across India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Jaipur, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune, Vadodara and Vijayawada.
KPMG entities in India offer services to national and international clients in India across sectors. We strive to provide rapid, performance-based, industry-focused and technology-enabled services, which reflect a shared knowledge of global and local industries and our experience of the Indian business environment.
Key Responsibilities
- Support end‑to‑end IFRS 17 implementations including:
- Model design and validation for GMM, VFA, and PAA
- Contract grouping and unit of account
- CSM calculation, release, and analysis
- Interpret IFRS 17 standards and translate them into actuarial and system requirements
- Perform IFRS 17 actuarial calculations using tools such as Prophet, RAFM, Moses, or Axis
- Support dry runs, parallel runs, and post‑go‑live activities
- Prepare and review IFRS 17 disclosures and reconciliations
- Work closely with Finance teams for actuarial–accounting alignment
2. Solvency II (Pillar I, II & III)
- Perform Solvency II valuation of technical provisions (BEL, Risk Margin)
- Support SCR calculations (Standard Formula / Internal Model)
- Assist in Pillar III QRTs, narrative reports, and regulatory submissions
- Ensure consistency between Solvency II, IFRS 17, and local GAAP results
- Document methodologies, assumptions, and governance processes
3. Actuarial Modelling & Systems
- Develop, enhance, and maintain actuarial models for Life insurance products:
- Participating, Non‑Participating, ULIP, Annuities, Protection
- Model cashflows, assumptions, and economic scenarios
- Improve model efficiency, automation, and robustness
- Support model validation, testing, and audit reviews
- Work with data, IT, and systems teams during model integration
4. IGAAP Valuation & Reporting (India-specific)
- Perform IGAAP actuarial valuations including:
- Reserve calculations
- Embedded Value (if applicable)
- Bonus valuation and policyholder liabilities
- Support statutory reporting and IRDAI regulatory requirements
- Ensure consistency between IGAAP, Solvency II, and IFRS 17 outputs
- Assist in statutory audits and actuarial investigations
5. Stakeholder Management & Documentation
- Liaise with internal stakeholders (Finance, Risk, Product, IT)
- Support external stakeholders (Auditors, Regulators, Consultants)
- Prepare actuarial documentation, methodology papers, and presentations
- Ensure compliance with actuarial standards and governance controls
Required Skills & Qualifications
Educational & Professional
- Bachelor’s/master’s degree in actuarial science, Statistics, Mathematics, or related field
- Progress toward IFoA / IAI / SOA / CAS actuarial qualification (Associate or Fellow preferred)
Technical Skills
- Strong knowledge of:
- IFRS 17
- Solvency II
- Life Insurance Products
- IGAAP actuarial valuation
Equal employment opportunity information
KPMG India has a policy of providing equal opportunity for all applicants and employees regardless of their color, caste, religion, age, sex/gender, national origin, citizenship, sexual orientation, gender identity or expression, disability or other legally protected status. KPMG India values diversity and we request you to submit the details below to support us in our endeavor for diversity. Providing the below information is voluntary and refusal to submit such information will not be prejudicial to you.
QualificationsMasters/Bachelors in Science, Statistics, and/or Financial Theory
Skills Required
- Bachelor's or Master's degree in actuarial science, statistics, mathematics, or related field
- Progress toward IFoA / IAI / SOA / CAS actuarial qualification
- Associate or Fellow actuarial qualification
- Practical experience with IFRS 17 implementations (GMM, VFA, PAA), CSM calculations and disclosures
- Experience performing Solvency II valuations, SCR calculations (standard formula or internal model) and QRTs
- Hands-on use of actuarial software: Prophet, RAFM, Moses, or Axis for IFRS 17 calculations
- Experience developing and validating actuarial models for life insurance products (Participating, Non-Participating, ULIP, Annuities, Protection)
- Knowledge of IGAAP actuarial valuation, reserve calculations and IRDAI statutory reporting
What We Do
KPMG entities in India are established under the laws of India and are owned and managed (as the case may be) by established Indian professionals. Established in September 1993, the KPMG entities have rapidly built a significant competitive presence in the country. Today we operate from offices across 14 cities including in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune, Vadodara and Vijayawada. KPMG entities have a domestic client base of over 2700 companies. Our global approach to service delivery helps provide value-added services to clients. Our differentiation is derived from a rapid performance-based, industry-tailored and technology-enabled business advisory services delivered by some of the leading talented professionals in the country. KPMG professionals are grouped by industry focus and our clients are able to deal with industry professionals who speak their language. Our internal information technology and knowledge management systems enable the delivery of informed and timely business advice to clients.
