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.

The incumbent will act as the actuarial internal consultant to perform the IFRS17 project and other actuarial project as required, as well as provide modeling support within the Actuarial Section. This includes the participation in actuarial analysis relating to IFRS17 accounting standard, as well as projects related to capital, solvency, process improvement and financial management. This involves design, development, enhancement and maintenance of actuarial models and reporting tools.

Job Description:

• IFRS17 project and Actuarial project support – Provide technical support on IFRS17 project and special actuarial projects assigned by the Team Head and/or the Chief Actuary, in collaboration with the BAU actuarial teams
• Actuarial model development – Lead the maintenance, development and enhancement of actuarial models, including the deterministic PROPHET model and the stochastic PROPHET ALS model, to ensure that a consistent set of actuarial models is being used for different purposes within the whole Actuarial department, and to reflect IFRS17 requirement, new management actions and new product features. Typical actuarial modelling projects in this team are expected to focus on 4 key areas:

(1) Initial assessment: Technical actuarial discussion on the IFRS17 principles,  actual management practices and expectations across different actuarial functions.
(2) System design and technical specifications: Specify the particular model design and structure, identify expected financial drivers, discuss potential technical issues and propose practical solution.
(3) Implementation and testing:  Model build, and a full range of model validation and result analyses.
(4) Management approval: Presentations of proposed technical approaches,inancial impacts and potential business implications to senior management

• Technical advisory support and governance – Support team leader to form insight on financial and operational implications from various part of the IFRS 17 implementation project, and provide technical supports and consultancy services to various key stakeholders within PHKL Actuarial and Finance, Reginal Office and Head Office. Interact with external consultants to ensure the deliverables of the projects are produced with reasonable outcome. Support to ensure the final framework and local actuarial process are in compliance to the robust governance framework and audit process
• People Management – Provide regular IFRS17 training to junior staffs. Supervise junior members to achieve performance objectives, through providing continuous actuarial knowledge development and regular career coaching. Assist the resource planning and support staff engagement initiatives

Job Requirements:

• Fellow of the Society of Actuaries, or equivalent
• At least 6 years of relevant experience
• Solid experience in life insurance industry, preferably with UK with-profits management, economic capital (e.g. Solvency II) and financial reporting experience.
• Modeling experience with PROPHET and stochastic modeling software (e.g. PROPHET ALS) is a plus
• Actuarial consultancy background or experience in project management is a plus
• Good problem solving and analytical skills
• Ability to transform complex technical actuarial issues into simple business concepts in presenting to senior management
• Experience in coaching junior actuarial staff and managing a team
• Good command of both spoken and written English

For other vacancies, please visit our website at https://prudential.wd3.myworkdayjobs.com/en-US/prudential 

We offer an attractive remuneration package including 5-day work week and flexible benefits. Please submit your application with present and expected salaries online.

To apply:  https://prudential.wd3.myworkdayjobs.com/en-US/prudential/job/Hong-Kong/Actuarial-Manager--Financial-Management-Projects--IFRS17-_18050071

Data collected will be used for recruitment purpose only and will be kept for 24 months.  Only short-listed candidates will  be notified.