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Assistant Actuarial Manager, Modelling and Innovation

Prudential plc
Mongkok, Hong Kong
Closing date
Jul 30, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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 Modelling and Innovation team (1) performs advanced actuarial modelling projects to maintain and develop actuarial models, ensuring a robust and efficient model for actuarial reporting, pricing and bonus recommendation purposes, and (2) performs innovation projects within the actuarial teams helping the actuarial teams to be more efficient and effective.

Job Responsibilities

Model enhancement projects : Take part in the actuarial discussion and assessment of the project scope and expectation to identify financial drivers and practical solutions; Construct the technical specification and model design with balance of technical robustness and operational efficiency; Carry out the model enhancement and robust change management; Analyze and interpret the financial results and findings; Present the end-to-end project conclusions and recommendations for senior management approval; Prepare documentations on the model change including modelling methodology and expert judgements made. Projects may include but not limited to modelling of actual management practices, model integration, model efficiency improvement, and address the issues raised by model users.

Model documentation : Create and maintain model methodology documentation summarizing the model logic and the rationale behind such logics. Make reference to documents and workings from prior model validation and model change exercises as necessary to ensure sufficient details are include. Cross reference the financial reporting principles and methodologies, Actuarial management practices, Finance booking and life operation practices to ensure the model formula is well explained. Exercise Actuarial technical knowledge and expert judgement to explain reasonableness of modelling approach. Document any model limitations and estimate the financial impacts.

Job Requirements
  • University graduate, with good progress in actuarial examinations
  • At least 4 years of relevant experience
  • Candidate with less experience will be considered Senior Officer role
  • Knowledge and experience in life insurance industry, preferably with IFRS17, HKRBC, UK with-profits management and financial reporting experience
  • Experience in Prophet or other equivalent actuarial modelling software
  • Good command of both spoken and written English
  • Excellent analytical and problem-solving skills
  • A team player with good interpersonal skills
  • Proficiency in Microsoft Word and Excel

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.

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