Actuarial Assistant, Modelling and Innovation

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.

The Modelling and Innovation team (1) performs advanced actuarial modelling projects to maintain and develop actuarial models, ensuring a robust and efficient model for actuarial reporting, pricing and bonus recommendation purposes, and (2) performs innovation projects within the actuarial teams helping the actuarial teams to be more efficient and effective.

Job Responsibilities

1. Model enhancement projects : Take part in the actuarial discussion and assessment of the project scope and expectation to identify financial drivers and practical solutions; Construct the technical specification and model design with balance of technical robustness and operational efficiency; Carry out the model enhancement and robust change management; Analyze and interpret the financial results and findings; Present the end-to-end project conclusions and recommendations for senior management approval; Prepare documentations on the model change including modelling methodology and expert judgements made. Projects may include but not limited to modelling of actual management practices, model integration, model efficiency improvement, and address the issues raised by model users.

2. Model maintenance : Assist in the maintenance of advanced actuarial models, including the deterministic model, stochastic model, dynamic model and ALS model; Perform model enhancements to integrate new product features and improve model efficiency; Perform regular model validation projects to ensure model accuracy; Maintain a good standard of model control through robust documentation of modelling methodology and known limitations; Assist in constructing technical responses to actuarial queries from external stakeholders, including regulators, auditors, regional office and group office.

3. Innovation projects : Provide technical and project management support on special actuarial projects assigned by the Team Head and / or the Chief Actuary. Drive the use of new tools and techniques in different actuarial tasks to streamline processes.

Job Requirements

University graduate, with good progress in actuarial examinations

Knowledge and / or experience in life insurance industry

Experience in Prophet or other equivalent actuarial modelling software is a plus

Good command of both spoken and written English and Chinese

Good analytical and problem-solving skills

A team player with good interpersonal skills

Proficiency in Microsoft Word and Excel