Assistant Manager, Actuarial Modelling and Transformation

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 Actuarial Modelling and Transformation team performs advanced modelling projects to maintain and develop actuarial models, ensuring robust and efficient models for actuarial reporting, pricing and bonus recommendation purposes. The team also performs actuarial transformation projects, helping the actuarial teams to be more efficient and effective.

Job Descriptions:

Model enhancement projects:

• Participate 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 a balance of technical robustness and operational efficiency
• Carry out the model enhancement and robust change management
• Analyse and interpret the financial results and findings
• Present the end-to-end project conclusions and recommendations for senior management approval
• Prepare documentation on the model change including modelling methodology and expert judgements made
• Projects may include modelling of actual management practices, model integration, model efficiency improvement and address the issues raised by model users

Model maintenance:

• Assist in the maintenance of advanced actuarial models, including the deterministic model, stochastic model, dynamic model and ALS model
• Perform model enhancements to integrate new product features and improve model efficiency
• Perform regular model validation projects to ensure model accuracy
• Maintain a good standard of model control through robust documentation of modelling methodology and known limitations
• Assist in constructing technical responses to actuarial queries from external stakeholders, including regulators, auditors and Group

Transformation projects:

• Provide technical and project management support on special actuarial projects
• Drive the use of new techniques in different actuarial tasks

Job Requirements:

• University graduate, with good progress in actuarial examinations
• At least 3 years of relevant experience
• Knowledge and experience in the life insurance industry, preferably with UK with-profits management, economic capital and financial reporting experience
• Experience in Prophet or other equivalent actuarial model coding and maintenance
• 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.