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.

Principal responsibilities:

Actuarial model validation

• Assisting with model validation preparation which includes development of the terms of reference; the identification of scope and fact-finding activities.
• Executing the validation activities for critical models used for a variety of purposes, including valuation, capital reporting and new business pricing.
• Helping to develop findings, gaining senior stakeholders support and ensuring the timely delivery of the validation reports.
• Conducting ad-hoc analysis required by senior management to gain comfort with the model use for decision making.
• Reviewing critical model changes and associated validation reports.
• Carrying out any Deep Dive reviews related to critical models.

Reporting

• Preparing model validation related papers for the Group Actuarial Technical Committee (“TAC”) and the Board/GRC.
• Preparing reports on material model changes in relation to critical models to provide assurance to the relevant governance committees, the Board/GRC.
• Producing the Group-wide model validation update report. Consolidating BU model validation reports into the Group validation report.

Actuarial Model Validation Platform

• Developing replication templates for critical models
• Managing the model validation governance platform
• Supporting standardization agenda in terms of validation framework and process improvements

Skills, knowledge and experience required:

• Part qualified actuary(at least 5 years experience) with relevant level of exposure and a life insurance or risk management background, including familiarity with current and emerging model platforms and risks that are relevant to the Group.
• Prior experience of actuarial model testing, development validation or audit is preferable.
• Understanding of the components of an insurance revenue accounts, balance sheet, the risks to which insurers are exposed and how they are modelled.
• Understanding of economic valuation techniques as well as capital calculations.
• Understanding of the key features of life insurance products and the types of risks associated with them. An international perspective on products and market characteristics would be an advantage.
• An analytical mind-set with strong statistical/problem solving skills.

Core competencies required:

• Highly motivated and able to work independently at times.
• A team player and flexible to adapt to a fluid environment.
• Ability to communicate with confidence to stakeholders, both at the Group and Business Unit levels.

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