Actuarial Professional

Actuarial Professional

Prudential Financial, Inc
3-6 years
Not Specified

Job Description

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 can shape, an inclusive workplace where ideas are valued and a culture where 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 is responsible to assist the Actuarial Manager / Senior Manager to define and implement appropriate actuarial standards and work processes in relation to the provision of actuarial services to the Company.
Actuarial knowledge and skills are necessary in various aspects of insurance business, e.g. product design and pricing, analysis of the company's claims, persistency and expense experience to set pricing assumptions, arrangement of reinsurance, calculation of reserves and profit reporting under various regulatory bases to assess financial health of a new product.
Participate in the product development process with other relevant Departments (Marketing, IT and Operations). Provide technical support and specifications with respect to new insurance products.
Recommend appropriate pricing assumptions and profitability targets. Undertake pricing of products based on agreed pricing assumptions and profitability targets in Prophet and Excel. Correct and timely pricing of products.
Accurate and timely provision of actuarial support to Product Implementation Team.
Model and analyze Prophet model office for new products / modifications. This will include all financial output where Prophet is used (e.g. statutory valuation, Embedded value, New business profit, Solvency II, etc). Perform reasonableness checks as appropriate. Interpret and communicate results to Actuarial Manager/ Senior Manager. Accurate and timely production of financial output.
Participate in assessing risks inherent in a new product, communicate implications effectively and identify mitigating solutions to manage risk.
Participate in various company-wide business initiatives. This includes: system upgrade initiatives, business retention and solutioning, product and process reviews, regulatory change requirements.
Provision of general actuarial advice and expertise to address policyholder/agent/regulatory queries where necessary. Ensure information provided is accurate, sufficiently detailed to the audience intended and addresses issues at hand.
From time to time, project based work may be required, supervised by the Project Sponsor or other appropriate supervisor. Projects might involve the provision of actuarial services and / or other skills and experience to compile information and present potential solutions or advice to the Company in resolving business issues. Projects may also take the form of secondment to other Prudential business units.
Degree in Actuarial Science/ Mathematics/ Statistics/ Physics or other physical sciences or numerate discipline
Good progress in actuarial professional examinations.
Up to 3 years relevant working experience
  • A numerate and analytical mind.
  • Proficiency with programming tools (e.g. Visual Basic)
  • Practical knowledge in Prophet (preferred) or other projection software would be preferred
  • Must be meticulous with the ability to work under pressure.
  • Must be self-motivated with the ability to work under minimum supervision

Job Details

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Prudentialplc provides life and health insurance and asset management, with a focus on Asia and Africa. We help people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. We protect people's wealth, help them grow their assets, and empower them to save for their goals. The business has more than 18 million life customers in Asia and Africa.Prudential has been providing trusted financial security for 95 years and is listed on stock exchanges in London, Hong Kong, Singapore, and New York. We are proud to be included in the 2022 Bloomberg Gender Equality Index. The index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. Our inclusion in this global index is testament to our commitment to nurturing diverse talent. #BloombergGEI . Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

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