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Actuarial Manager, IFRS17 - General Insurance Workstream
Prudential Hong Kong Limited
May 15, 2020
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.
IFRS 17 General Insurance Workstream manages the technical assessment, implementation for transition and determine the opening balance sheet ("OBS") as at transition date for the general insurance business of Prudential Hong Kong ("Prudential General Insurance Hong Kong Limited" or "PGHK"). The Workstream would also need to ensure the compliance with the IASB Standard and meets Group's financial & strategic objectives.
This role is mainly to provide technical support & analysis for IFRS 17 basis, assist to develop the methodology and assumptions, build the required valuation process for IFRS 17 reporting, perform assessment on financial results and provide support on reviewing the solution design for end-state reporting.
Technical Assessment: Provide technical support on IFRS 17 analysis and study assigned by the supervisor, which includes technical interpretation, financial analysis, and implementation of new process and systems for IFRS17
Valuation Process for Transition: Develop and build the transition including valuation of methodology and assumption, transformation and allocation process for the determination of IFRS 17 Opening Balance Sheet
Financial Results Assessment: Support the supervisor to determine the technical position on the methodology and approach; Work with other IFRS17 teams to perform financial impact assessment, parallel run and the ad hoc financial assessment
Solution Design: Support to review the practicality and feasibility on the solution design, for example, source system enhancement and ETL (Extract, Transform, Load process) tools set out by the Regional Office
Governance & Controls: Ensure proper processes, governance and controls are in place for supporting the transition valuation process and the related audit review work
Qualified actuary or close to be qualified, preferably with general insurance track.
Minimum 5 years of relevant experience, candidates with less working experience will be considered as Assistant Manager
Solid experience in general insurance industry, preferably with actuarial valuation or modelling experience, for example, but not limited to, SAS, Emblem or Python.
Strong technical, analytical and problem-solving skills
Possess in-depth knowledge to the IFRS 17 standard would be an advantage
A team player with good interpersonal skills
Good command of both spoken and written English and Chinese