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 everyones ideas are valued and a culture where we can thrive together. Our people stay connected and tuned in to whats 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.
This role exists to ensure that the actuarial model used in producing financial report and projections are up to date and well maintained. Also, the scope of this role includes supporting the valuation reporting team and pricing team with matters related to actuarial model and valuation data.
Roles and Responsibilities:
1) Responsible for the modelling of new products into Prophet, annual model enhancement and model maintenance work with proper documentation in place.
Ensure that new products that are modelled into prophet, along with the basis, are in accordance to submitted actuarial certificate
Perform validation against pricing model and explain if the valuation model varies from pricing model.
Responsible for building product model in MS Excel for validation of model in Prophet
Provide support to pricing team (if any) for good practice whilst modelling a new product.
2) Ensure compliance to regional's Annual Model Change Policy (AMCP)
Compile evidence of compliance to regionals policy on prophet model during the year
Liaise with regional PIC and coordinate timeline for AMCP compliance
Liaise with internal and external auditors with regards to model.
3) Process monthly valuation data using Prophet DCS and/or SQL/FoxPro to generate monthly model point files and ad-hoc requests as needed.
To prepare checks and reconciliation from raw data to model point files
Prepare valuation data UAT in the event of new product launching, system enhancement and due to statutory requirement
PPerform periodic coding updates to Prophet DCS and SQL/FoxPro.
4) Working with various stakeholders:
Various valuation teams Model and valuation data
Pricing team pricing model and actuarial certificates / product specifications.
Regional office Documentation. logs and processes.
Auditors Models, valuation data, model point files, documentation. logs and processes.
IT system, data.
Qualification and Experience:
Degree in Actuarial Science or other quantitative discipline
Preferred to have passed at least 3 professional actuarial examinations
Knowledge in Prophet, DCS, Microsoft Office (especially Excel and Word) and FoxPro/SQL.
Preferred to have some experience in actuarial field
Curious, self-driven, independent, great attention to details, problem solver and work well with others
Good spoken/written communication skill
