Head of Actuarial
A Leading Insurance Firm
One of the leading Insurance firms was looking for a talent to lead the Actuarial practice bringing an element of analytically accurate industry vertical growth. The aim of Actuarial Practice is to use the technical and business skill learnt in the Actuarial Statistics, Actuarial Mathematics and Business subjects combining them with new material on how the skills are applied to solve real world problems. Big4s has its own metal in global & Indian market thus bringing a talent from them or around them was a challenging task.
Challenge
Hiring for topnotch Insurance firm to lead the Actuarial practice. This position was very critical to them & they already had few of the talents in the pipeline but were on hold due to the mixed exposure of the Industry verticals & the cost factor. As a Vendor it was a tough challenge to work on the super niche space and get the best breed in the given cost.
Strategy
We mapped the best actuarial led talent. With extensive research hours and reporting involved in the encapsulation of our understanding of what the role demanded, we worked all the way round to formulate how to hit the right talent in shortest TAT. This role demanded an operational mindset with the flavor of Actuarial operations.
Below few methods helped to get the right talent:-
- Outlined details of the core insurance and services firm in the given geography.
- Mapped the people from core subject covering maximum number of papers cleared. Someone who has global experience in US statutory & GAARP reserves methodology.
- Reaching the right talent in core niche role requires a very sharp crisp methodology plus we also got bit of duplicity from client as they themselves were also working to close this role on priority.
- Specific set of questionnaire was prepared to differentiate many actuarial talents, as this role demanded a flavor of skills in Actuarial.
- Within 7- 8 resumes in process we were able to get a selection of the right talent. Though selling this role was also a challenge as best company demand the best talent form best of firms, our sharp advisory skills played a role to visualize the need of client & candidate.
Result
With this talent getting onboarded we were able to hit the most critical demand of client with the right methodology in place.
We closed this in the queue of 7-8 resumes submission which also saved time of client in long TAT. With a strong candidate engagement we managed to get on board as he was previously working with a strong firm didn’t give him relaxation of NP due to his role importance, which shows the criticality of the job role.
Even the Client (who was in urgent need of the resource) waited for the complete 3 months NP to be completed & was so convinced with the entire process that they did not even look at working on the backups.
We share an astounding 10 years of relationship with the client, who trusts us for all the tough tasks and volume task they work with us; giving their 80% of the Leadership critical positions exclusively with us, which require in-depth research in the fastest TAT.