Manager, Actuarial Services

Manager, Actuarial Services

Apply locations Kuala Lumpur time type Full time posted on Posted 30+ Days Ago job requisition id 24090339

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Candidate is responsible for assisting the Head of Models and Controls Team in all actuarial duties in accordance with sound actuarial principles and standards. Candidate is also responsible for managing and coordinating the work of the Model and Control team.

The Actuarial Models and Controls team is responsible for maintaining and developing actuarial models, ensuring a robust and efficient model for financial actuarial reporting such as RBC, IFRS17, GIECA, EEV/NBP, and performing innovation projects to improve the efficiency and effectiveness of actuarial models.

PRINCIPAL DUTIES & RESPONSIBILITIES:

Model Management

1. Ensure timely release, analyze and interpret financial results and findings.
2. Perform model enhancement which includes but is not limited to modeling of actual management practices, model integration, model efficiency improvement, and addressing the issues raised by stakeholders.

Model Maintenance

1. Construct the technical specification and model design with a balance of technical robustness and operational efficiency.
2. Create and maintain model methodology documentation summarizing the model logic and the rationale behind such logics.
3. Document any model limitations and estimate the financial impacts.

Model Validation

1. Cross-reference the financial reporting principles and methodologies, actuarial management practices and life operation practices to ensure the model formula is well explained.
2. Exercise actuarial technical knowledge and expert judgment to explain the reasonableness of the modeling approach.

Key Accountabilities

1. Manage and coordinate work of model change requests, prioritizing workload to ensure smooth delivery of model to actuarial department.
2. Enhance the actuarial capabilities and business skills of the actuarial staff through appropriate guidance and instructions.

JOB SPECIFICATION

1. Degree in Actuarial Science / Mathematics / Statistics / Physics or other physical sciences or numerate discipline, with good progress in actuarial examinations.
2. At least 3 years of relevant experience. Candidates with less experience will be considered for the Senior Actuarial Professional role.
3. Knowledge and experience in the life insurance industry, preferably with RBC, IFRS17, ALS, and financial reporting experience.
4. Experience in Prophet or other equivalent actuarial modeling software.
5. Proficiency in Microsoft Word and Excel.
6. Good command of both spoken and written English.
7. Excellent analytical and problem-solving skills.
8. A team player with good interpersonal skills.
9. Must be self-motivated with the ability to work under minimum supervision.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organization irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time/fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job, and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.

About Us

We are Prudential. For Every Life, For Every Future.