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The Actuarial Modelling and Transformation team (1) performs advanced actuarial modelling projects to maintain and develop actuarial models, ensuring robust and efficient models are in place for actuarial reporting, pricing and bonus recommendation purposes, and (2) performs innovation projects within the actuarial department helping the actuarial teams to be more efficient and effective.
Job Descriptions :
Model enhancement projects :
- Lead the actuarial discussion and assessment of the project scope and expectation to identify financial drivers and practical solutions
- Review the technical specifications and model designs considering the balance of technical robustness and operational efficiency
- Lead the model enhancement and ensure robust change management
- Review the analysis and interpretation of the financial results and findings
- Present the end-to-end project conclusions and recommendations for senior management approval
- Review documentation on model changes including modelling methodology and expert judgements made
- Projects may include the modelling of actual management practices, model integration, model efficiency improvement and address the issues raised by model users
Model maintenance :
Lead the maintenance of advanced actuarial models, including the deterministic model, stochastic model, dynamic model and ALS modelLead model enhancements to integrate new product features and improve model efficiencyProvide replies to questions arising from the regular model validation exercises which are performed to ensure model accuracyEnforce a good standard of model control through robust documentation of modelling methodology and known limitationsReview technical responses to actuarial queries from external stakeholders, including regulators, auditors and GroupInnovation projects :
Explore and compare new technology and techniques in different actuarial tasksDrive the selection of appropriate technology with consideration of user feedback, future-proofing and Group directionProvide technical support and oversee project management on the implementation and testing of the new technologyJob Requirements :
University graduate with good progress in a technical certificationAt least 8 years of relevant experienceKnowledge and experience in the life insurance industry, preferably with UK with-profits management, economic capital and financial reporting experienceExperience in Prophet or other equivalent actuarial model coding and maintenance; exposure to Prophet ALS modelling would be a significant advantageGood command of both spoken and written EnglishExcellent analytical and problem-solving skillsA team player with good interpersonal skillsProficiency in Microsoft Word and Excel