Job Description

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.

JOB SCOPE:        

The incumbent is responsible to assist the Senior Manager/Actuarial Manager 1 to define and implement appropriate actuarial standards and work processes in relation to the provision of actuarial services to the Company.

Actuarial knowledge and skills are necessary in various aspects of insurance business, e.g. product design and pricing, analysis of the company’s claims, persistency and expense experience, arrangement of reinsurance, calculation of reserves, capital and profit reporting under various regulatory bases.

PRINCIPAL DUTIES & RESPONSIBILITIES:

1. Ensure the accurate and timely submission of monthly TEV New Business Reporting and Health Pillar Reporting, including Health APE & NBP, to Group and internal stakeholders. Promptly escalate any potential obstacles to the delivery of results to the relevant stakeholders.

2. Provide insight on key drivers to bridge NBP gap against target. Support finance quarterly dialogue and quarterly business plan reviews by highlighting past performance and risks & opportunities to meet Plan APE and NBP targets, including health financial metrics.

3. Support the overall end-to-end delivery of APE and NBP targets for Business Planning. Assist the Team Lead in driving the annual assumption and modelling review as part of Business Planning. Ensure appropriate checks are conducted on the financial impact analysis and prepare comprehensive documentation for other teams’ reference.

4. Perform runs on the Prophet model office incorporated with new product launched and analyze the financial output for the new products to ensure accuracy. Conduct reasonableness checks and provide explanations for any gaps observed against the Pricing model.

5. Support the implementation of reporting process enhancements and initiatives. Continuously identify opportunities to improve existing workflows and processes.

6. Provide general actuarial advice and expertise to other departments, including addressing policyholder, agent, and regulatory queries. Ensure the information provided is accurate, sufficiently detailed, easily understood by the intended audience, and addresses the issues at hand.

7. Provide guidance, training and general supervision to the Actuarial Professionals/Senior Actuarial Professional, ensuring consistent career growth and opportunities for professional development.

8. Foster a collaborative team environment by working closely with colleagues across different departments to achieve common goals. Encourage open communication, share knowledge, and support each other in the day-to-day work.

JOB SPECIFICATION:

Qualifications:

• Degree in Actuarial Science/ Mathematics/ Statistics/ Physics or other physical sciences or numerate discipline.
• Actively pursuing professional actuarial examinations

Experience:

• At least 4-5 years of relevant actuarial experience

Knowledge:

• A numerate and analytical mind.
• Practical knowledge in Prophet (preferred) or other projection software would be preferred but training will be provided otherwise.
• Must be meticulous with the ability to work under pressure.
• 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 organisation 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.

Job Requirements