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.
Carry out the following activities and provide leadership and direction in the Actuarial Non-life insurance team to:
• Produce the statutory and group actuarial reporting for the non-life lines of business.
• Actuarial review of pricing for non-life lines of business.
• Reporting solvency position under Hong Kong RBC.
Provide leadership in PHKL Actuarial and across Finance on the non-life insurance of Prudential General Insurance Hong Kong Limited (PGHK) and contribute to the management of the whole department including for the life business.
Job Descriptions:
- Manage and carry out actuarial financial reporting production process for efficient, timely and accurate results. Including the development and implementation of appropriate processes and controls to meet Group requirements and external audit. Including IFRS17, Hong Kong RBC and embedded value reporting. Collaborating with finance, risk and PGHK teams for timely production of financial reporting including business plan development and ORSA report. Represent and explain the financial results to various stakeholders. Including: PGHK CFO; PGHK management; Group office of Prudential; external auditors; regulators.
- Perform reserving analysis for non-life business and prepare the annual regulatory GL9 report for the Certifying Actuary (external or internal) to complete their duties. Liaise with the Certifying Actuary to address all their questions and include such changes in the report as are necessary.
- Provide challenge on pricing and product design from the PGHK product and marketing teams to support recommendation for approval by the Chief Actuary and CFO. Challenge includes, where appropriate related activities such as: development of pricing guidelines; review of ad hoc pricing decisions (eg group cover quotations); participation in PGHK claims, underwriting, product and reinsurance committee meetings.
- Prepare and maintain the ALM policy of PGHK. Participate in investment decisions related to the business of PGHK. Participate in PGHK investment committee meeting including updates on capital adequacy and risk appetite.
- Identify and manage resource requirements, escalating in case of an identified shortfall in people or capability. Identify and implement process improvements to support actuarial financial reporting and other work of the section
- Manage the Actuarial Non-life team. Ensure a framework for staff development is in place to maintain or improve engagement.
Job Requirements:
- Expect at least 7 years of working experience with 2 at managerial level.
- Fellow Actuary, with non-life fellowship (eg Casualty Actuarial Society).
- Financial reporting, pricing and capital management experience for non-life lines of business.
- Business and financial acumen for non-life insurance.
- Financial modelling.
- Adaptable to changing priorities and to multiple business functions.
- Bias for action and results driven.
- Strong communication and presentation skills.
- Ability to work with diverse personalities, cultures and business practices in an international organization.
- Operates with high standards and integrity.
- Ability to multi-task, be flexible, adaptable and comfortable in a fast-paced environment.
- Excellent written and spoken English. Ability to speak Cantonese is also desirable.
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.