Assistant Manager / Senior Officer, Model Management and Actuarial Projects, Chief Actuary Office
At Prudential, we understand that success comes from the talent and commitment of our people. Together, we have a shared vision in securing the future of our customers and our communities. We strive to build a business that you can shape, an inclusive workplace where everyone's ideas are valued and a culture where we can thrive together. Our people stay connected and tuned in to what's happening around us, keeping us ahead of the curve. While focused on the long-term, we look to the future to bring growth, development and benefit to everyone whose lives we touch.
Model Management and Actuarial Projects team specialize in advanced actuarial modelling to maintain and develop actuarial models, ensuring an accurate and efficient model for actuarial reporting, pricing and bonus recommendation purposes. The team also performs model enhancement projects, from proposing the optimal solution to analyzing the financial results and interpret the findings. The team also provides consultancy services on model related issues.
In addition, the team manages technically advanced projects to support business needs and enhance the actuarial approach.
- Model maintenance: assist in the maintenance of actuarial models, including the deterministic PROPHET model and the stochastic PROPHET ALS model; ensure a consistent set of actuarial models is being used for different purposes within the whole Actuarial department; incorporate actuarial models of newly priced products into the financial reporting model system; perform regular model validation projects to ensure model accuracy; assist in constructing technical responses to actuarial queries from external stakeholders, including regulators, regional office and the UK home office.
- Model enhancement projects: perform modelling projects to streamline model runs, improve model efficiency, and address the issues raised by model users; understand the model issue and propose the optimal modelling approach with balance of technical robustness and operational efficiency; perform model enhancement in accordance with model control and validation requirements; analyze the financial implications under different reporting basis.
- Special actuarial projects: provide technical and project management support on special actuarial projects assigned by the Team Head and/or the Chief Actuary.
- Collaboration: communicate with model users to align the preferred modelling approach and reasonableness of financial impacts.
- University graduate, Associate of Societies of Actuaries or equivalent
- At least 3-4 years of relevant experience
- Knowledge and experience in life insurance industry, preferably with UK with-profits management, economic capital (e.g. Solvency II) and financial reporting experience
- Modelling experience with PROPHET is essential
- Stochastic modelling experience is an advantage
- Good command of both spoken and written English and Chinese
- Excellent analytical and problem-solving skills
- Proficiency in Microsoft Word and Excel