Assistant Officer/ Officer, Actuarial IFRS 17 Transition Workstream - Modeling (multiple openings)
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.
Support the responsibilities of the Chief Actuary Office to drive actuarial projects for the Actuarial Section. This role is within the IFRS 17 project team and will mainly focus on transition calculation, system solution design, system testing, data management and implementation of this new international reporting standard.
IFRS 17 Transition calculation (30%) - Enable the retrospective transition calculation which is very similar to BAU reporting:
- Perform data collection, transformation and resolve data issues with IT/Finance teams
- Develop calculation tools and models per IFRS 17 requirements
- Perform Prophet run and result extraction
- Analyze and explain transition results, ensuring its robustness
IFRS 17 system solution design (20%) - Design system solution for IFRS 17 requirements:
- Assist actuarial manager on system design and flow
- Illustrate the calculation logic and key decision points to system architects with tools like Microsoft Excel
- Scope includes both systems newly developed by external vendors and in-house policy administration system
IFRS 17 system solution testing (50%) - Devise and manage the testing process:
- Take part in the development of test scenarios and formulate the actuarial expected outcomes
- Ensure robust and correct system build with user acceptance test and regression test
- Report issues discovered and facilitate the problem-solving process
- Provide feedback and recommendations to support the development of the system and project roll out
- Regularly update testing progress to actuarial manager
- 1 - 3 years(3) of Actuarial Profit experience
- Experience in life insurance industry, preferably with financial reporting, system enhancements and knowledge on participating business.
- Experience in using Actuarial model. Prophet experience is a plus.
- A team player with strong communication and interpersonal skills, able to work independently and under pressure
- Good problem-solving skills
- Good command of both spoken and written English