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.
The In force Management (IFM) Actuarial Consultant will be offered a great opportunity to lead and grow IFM team to ensure that related activities are in line with sound actuarial principles and standards, statutory requirements and meet company goals and objectives
- Being responsible for the preparation of various actuarial and financial reports required by regulators, Prudential Group and internal management.
- Act as first point of contact for basic queries relating to those reports.
- Ensure results, processes and procedures are sound, accurate and fully documented. In particular, ensure compliance with regulatory requirements, PCA standards and actuarial principles. Conduct regular experience analyses to provide input into the assumptions to be used in pricing, valuation, and business projections.
- Drive a more holistic framework with respect to the management of PVA's PAR fund, to be in line with applicable regulations, internal practice and TCF.
- Recommend and maintain a company-wide PAR Fund Management Policy.
- Review ULP / Pension crediting rate management framework. Recommend a company-wide Crediting Rate Policy.
- Conduct periodic investigations into the supportability of the ULP/Pension fund performance, and in the setting and recommendation of crediting rates to policyholders.
- Key point of contact with external auditors, regulators, and other senior stakeholders.
- Provide support to team members with BAU tasks including reinsurance management, UAT Test for system implementations, expense analysis and experience analysis, PAR products like bonus declaration etc.
- Provide support to J team members in conducting wide variety of ad-hoc actuarial investigations and In-force Management projects. It can include working in different teams within IFM. Provide support to Head of In-force in managing new projects, stakeholders (internal and external) expectations.
To be assigned by the Line manager or Company's management (if any) and support other members on business tasks. Provide support to grow team members
Meet all the deadlines of individual assignments and projects Relationships and Communications: Build effective relationships both within and outside the department; seek input from and maintain effective ongoing communication with others:
- Internal:
- Marketing, Finance, Risk, Claims, Underwriting, Actuarial etc.
- Other departments: coordinate when necessary
- External:
- MOF, PCA, Reinsurers, Auditors etc.
Managing and developing people
Key Success Factors
A university degree in a major with significant exposure to actuarial, finance, mathematics and/or statistics. Being an Associate/Fellow of a recognized actuarial organization. At least 8 years of relevant actuarial experience in a life insurance company, with experience in multiple aspects of actuarial work, with particular emphasis on system development and implementation. Having relevant supervisory or mentoring responsibilities and must have exhibited good project management skills. Experience in leading, training and coaching junior actuarial staff for at least 3 years. Extensive actuarial and insurance knowledge learned from both examinations and job experience. Understanding of the dynamics of an insurance company and how the actuarial functions relate to this. High analytical skill Ability to work independently and with minimal supervision. Strong leadership, project management, coaching and mentoring skills. Excellent verbal communication, writing and presentation skills.
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.
