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.

PCA operates life insurance operations at varying stages of development in 12 markets with local actuarial teams in each operation. At Regional Head Office, the Actuarial & Finance department is responsible for accurate financial reporting which clearly articulates the underlying fundamentals of the businesses. The Finance Function in the Regional Head Office comprises PCA’s oversight functions of Accounting Policy, Planning & Forecasting, Financial Reporting, Actuarial Reporting and Financial Performance.

Aligned to the Finance Function and reporting to the Senior Director, Actuarial Reporting, the successful candidate will be responsible for reviewing the Local Business Unit (LBU) produced reports and interacting with Group Head Office and other functions within Regional Head Office on all financial reporting related issues.

The incumbent will support the Senior Director, Actuarial Reporting, on regional actuarial reporting activities, covering country management, results consolidation, as well as actuarial project support on needs basis. Major roles include, amongst other things: the review of the actuarial reporting submissions from the assigned PCA Local Business Units (LBUs) covering a wide scope of metrics such as European Embedded Value (EEV), Free Surplus Generation (FSG), IFRS and Solvency II; effective communication and explanation of reporting results to various stakeholders; experience analysis and assumption setting reviews; business planning and forecasting activities; support on results consolidation; and, support on other ad-hoc actuarial projects.

This role gives the incumbent significant actuarial reporting, project management and stakeholder management exposure. Active collaboration and communication with various PCA departments such as Finance, Insurance team and Capital Management, as well as the Group Head Office, will be required.

Job Responsibilities

Country Management – Actuarial Reporting Review:

• Review and challenge of LBU-produced EEV, FSG Solvency II, and IFRS results; answering related queries from Group Head Office and other stakeholders around Regional Head Office. Includes Year-End, Half-Year, and quarterly reporting, as well as business planning and forecasting.

Country Management – Experience Monitoring and Assumption Setting:

• Review of regular experience monitoring reports, and drilling into the underlying reasons for movements in the results, to aid annual assumptions review. Develop business insights from experience and effectively communicate this with senior management.

Country Management – Value Creation:

• Identify areas for improvement in existing LBU reporting process / methodology / assumption and execute plans for improvement. Draw insights from reporting results to develop ideas on management action to improve financial and business outcomes.

Result Communication and Consolidation:

• Fully understand the reporting results from LBUs and formulate central ‘story’ around the numbers. Participate in the preparation of management information packs summarizing actuarial reporting results / project outcomes for various stakeholders including Group Head Office, PCA senior management and external regulators.

Actuarial Project Support:

• Provide support on other ad-hoc actuarial projects, including but not limited to addressing LBU specific issues such as model changes, investigation of the financial reporting impact of new regulation, reinsurance review, etc.

Job Requirements

• Qualified Actuary with at least 12 years of actuarial and operational experience, including managerial roles in an established insurance operation
• Technically strong; broad understanding of the various financial reporting metrics, with a strong preference for European Embedded Value and Solvency II experience
• Excellent communication skills
  • An articulate communicator with the ability to interpret actuarial results
  • Ability to present confidently to technical committees and senior stakeholders
• Detail oriented, curious and challenging with the ability to get to the underlying drivers of results
• Stakeholder management
  • Proven ability to work cross-organizationally to build relationships across LBUs and influence key stakeholders
• A team player with strong communication and interpersonal skills, able to work independently and under pressure
• Excellent English language skill is essential while Asian language ability would be an asset