Manager, Actuarial Services

Prudential Group; Kuala Lumpur; On-site; MYR 90,000 - 120,000; Full time

Job summary

A leading international insurance firm is seeking an Actuarial Professional in Kuala Lumpur. The successful candidate will assist in modeling and controlling duties, manage actuarial models for financial reporting, and ensure their robustness and efficiency. Candidates should possess a relevant degree, at least 3 years of experience, and proficiency in actuarial software. The role offers opportunities for growth within the actuarial field and values diversity and inclusion in the workplace.

Benefits

Equal opportunity employer

Support for individual health requirements

Qualifications

• At least 3 years of relevant experience in actuarial roles.
• Good progress in actuarial examinations.
• Knowledge of RBC, IFRS17, and financial reporting.

Responsibilities

• Assist the Head of Models and Controls Team with actuarial duties.
• Maintain and develop actuarial models for financial reporting.
• Manage and coordinate model change requests.

Skills

Analytical skills

Problem-solving skills

Team player

Interpersonal skills

Education

Degree in Actuarial Science / Mathematics / Statistics / Physics

Tools

Prophet actuarial software

Microsoft Word

Microsoft Excel

Job description

Prudential’s purpose is to be partners for every life and protectors for every future. We create a culture in which diversity is celebrated and inclusion is assured for our people, customers and partners. We provide a platform for our people to do their best work, make an impact on the business and support their career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Candidate is responsible for assisting the Head of Models and Controls Team in all actuarial duties in accordance with sound actuarial principles and standards, and for managing and coordinating the work of the Model and Control team.

The Actuarial Models and Controls team maintains and develops actuarial models, ensuring a robust and efficient model for financial actuarial reporting such as RBC, IFRS17, GIECA, EEV/NBP, and undertakes innovation projects to improve the efficiency and effectiveness of actuarial models.

PRINCIPAL DUTIES & RESPONSIBILITIES

Model Management

• Ensure timely release, analyse and interpret financial results and findings.
• Perform model enhancement which includes modelling of actual management practices, model integration, model efficiency improvement, and addressing the issues raised by stakeholders.

Model Maintenance

• Construct the technical specification and model design balancing technical robustness and operational efficiency.
• Create and maintain model methodology documentation summarising the model logic and the rationale behind it.
• Document any model limitations and estimate the financial impacts.

Model Validation

• Cross‑reference the financial reporting principles and methodologies, actuarial management practices and life operation practices to ensure the model formula is well explained.
• Exercise actuarial technical knowledge and expert judgement to explain the reasonableness of the modelling approach.

Key Accountabilities

• Manage and coordinate work of model change requests, prioritising workload to ensure smooth delivery of the model to the actuarial department.
• Enhance the actuarial capabilities and business skills of the actuarial staff through appropriate guidance and instruction.

JOB SPECIFICATION

• Degree in Actuarial Science / Mathematics / Statistics / Physics or another physical science or numerate discipline, with good progress in actuarial examinations.
• At least 3 years of relevant experience; candidates with less experience will be considered for a Senior Actuarial Professional role.
• Knowledge and experience in the life insurance industry, preferably with RBC, IFRS17, ALS and financial reporting experience.
• Experience in Prophet or other equivalent actuarial modelling software.
• Proficiency in Microsoft Word and Excel.
• Good command of both spoken and written English.
• Excellent analytical and problem‑solving skills.
• A team player with good interpersonal skills.
• Must be self‑motivated with the ability to work under minimum supervision.

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.