Regional Actuary, Actuarial Modelling

Location
Hong Kong (HK)
Salary
Competitive Salary
Posted
14 Jan 2019
Closes
14 Feb 2019
Contract Type
Permanent
Hours
Full Time

At Prudential, we understand that success comes from the talent and commitment of our people. Together, we have a shared vision in securing the future of our customers and our communities. We strive to build a business that you can shape, an inclusive workplace where everyone’s ideas are valued and a culture where we can thrive together. Our people stay connected and tuned in to what’s happening around us, keeping us ahead of the curve. While focused on the long-term, we look to the future to bring growth, development and benefit to everyone whose lives we touch.

Within this role you will be expected to plan and lead complex Prophet model developments and enhancements across the span of PCA’s 12 insurance LBUs. The Actuarial Modelling team’s main responsibilities include:

• Engagement with key stakeholders in PCA Actuarial Reporting and the LBUs to plan PCA modelling support
• Supporting LBUs in their key model developments and providing best practice guidance/peer review
• Modelling leadership in the evolution of models for new reporting metrics such as IFRS 17 or HK RBC
• Supporting a region wide modelling framework and model upgrades across the region

Since the role will offer opportunities to engage with the actuarial teams in our various LBUs, travelling outside of Hong Kong to work on-site at our LBUs may be required from time to time.

Key Accountabilities:

1) Provide support to the PCA LBUs on their key Prophet model developments. This will involve leading small teams on a project by project basis across the end-to-end model enhancements process

 

  • Ensure that the team delivers:
    • successfully validated model developments
    • clear, accurate model documentation
    • sufficient handover to LBU owners

2) Engage with a range of stakeholders at both PCA and LBUs on the model developments:

 

  • This will involve discussions with PCA Actuarial Reporting’s country managers to propose, plan and prioritise the upcoming model developments, while simultaneously managing stakeholders in the modelling and reporting teams of the LBUs
  • Multiple projects, with different LBUs, will need to be managed simultaneously

Performance measures:

 

  • Develop an excellent understanding of the LBU’s key modelling issues
  • Working with LBUs to meet agreed timelines for model enhancement deliverables
  • Develop effective working relationships with LBU and PCA personnel

3) Regular model developments, the candidate will lead region wide modelling upgrades (e.g. Cloud computing) and the modelling roll-out of models for new metrics, such as IFRS17, across the region

 

  • Deliver a smooth rollout of the developments to agreed milestones

4) Supporting LBUs to demonstrate compliance with the region-wide model risk policy

 

  • Effectively communicate to LBU actuarial teams on best practice adherence to PCA model risk policy

5) Maintaining the region-wide Prophet Enterprise system infrastructure

 

  • Ensure smooth management of infrastructure from an actuarial perspective

6) Maintaining technical expertise in particular areas, and sharing this expertise with LBUs and other team members

 

  • Produce clear and insightful presentations on important modelling topics on a regular basis

7) People management of the regional Actuarial Modelling team

 

  • Ensure team members are managed responsibly on engagements
  • Provide sufficient learning and development opportunities for junior team members

Candidate Specifications:

 

  • 10+ years of relevant experience
  • Strong technical knowledge of actuarial modelling, in particular using Prophet Professional and including the ALS library
  • Strong familiarity with the typical backing IT infrastructure that sits behind Prophet at large companies
  • Prior knowledge of a range of insurance products and common reporting metrics (e.g. EEV, economic capital), would be beneficial to the role due to the range of possible projects
  • Prior experience of Par products and management practices would be very beneficial
  • Ability to independently manage a team across a range of diverse modelling tasks
  • Ability to build relationships, particularly with LBUs where influencing skills may be required
  • Fluent in both spoken and written English is essential (ability to speak one or more Asian languages would be desirable)

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