Manager, Actuarial Services

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. JOB SCOPE:    The incumbent is responsible to assist the Head of Local Reporting & Par Fund Management to define and implement appropriate Actuarial standard and work processes in relation to the provision of actuarial services of 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. PRINCIPAL DUTIES & RESPONSIBILITIES: Support and where appropriate, lead RBC2 implementation initiatives, including interpretation of regulatory requirements and translation into actuarial methodologies, reporting processes, controls and documentation. Perform quantitative impact assessments, QIS / parallel runs and business readiness activities, including analysis of impacts on reserves, Total Capital Available, Total Capital Required, Capital Adequacy Ratio and key business drivers. Ensure actuarial models used for RBC2 valuation and solvency projections are accurate and robust, with appropriate validation, reasonableness checks, analysis and documentation in place. Deliver statutory actuarial reporting, including but not limited to reserves, Capital Adequacy Ratio and analysis of sources of surplus arising, while supporting transition readiness for RBC2 reporting requirements. Support the Capital Management Plan, stress testing, ICAAP and Individual Target Capital Level assessments, including analysis of RBC2 implications on capital planning and management actions. Coordinate and support responses to queries from Bank Negara Malaysia, Group Office and other stakeholders on RBC2, statutory reporting and capital-related matters. Analyse and communicate key drivers of reserve, earnings and capital movements clearly and effectively to management and relevant stakeholders. Provide financial analysis and actuarial technical support for company initiatives, including new or revised regulatory requirements, Group standards, assumption reviews, solvency projections and committee / management papers. Strengthen governance, controls and documentation over RBC2 processes, including methodology papers, assumptions, model change documentation, validation evidence and audit trails. Drive process improvement, automation and simplification initiatives to enhance the efficiency, control and sustainability of actuarial reporting and RBC2 processes. Provide coaching, guidance and on-the-job development to team members to strengthen technical capability, ensure consistent delivery quality and build succession within the team. JOB SPECIFICATION:

Degree in Actuarial Science / Mathematics / Statistics / Physics or other physical sciences or numerate discipline. Qualified or nearly qualified Actuary from a recognised actuarial body preferred; candidates actively pursuing professional actuarial examinations may also be considered.

Minimum 5 years of relevant actuarial experience in life insurance, preferably in valuation, statutory reporting, capital management or regulatory reporting.               Knowledge: Strong understanding of life insurance valuation, capital management and regulatory reporting requirements. Strong analytical, communication and stakeholder management skills. Experience with Prophet, Alteryx