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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 Transition Workstream manages the implementation for transition and determine the opening balance sheet ("OBS") as at transition date, determine the optimal transition approach, ensures the compliance with the IASB Standard and meets Group's financial & strategic objectives.
This role is mainly to manage the implementation for transition with a focus on leading the development of transition methodology and approach, managing the transition valuation process, providing insights from the latest IFRS17 development and advising on financial implications based on impact assessment results.
Implementation for Transition: Determine and develop the transition approach and methodology used for the determination of IFRS17 Opening Balance Sheet; Manage the transition valuation development process to ensure that it is in line with the approach and can meet the timeline for the delivery of the Opening Balance Sheet.
Financial Results Assessment: Provide the technical actuarial advice on the latest development of the IFRS17 Standard from transition perspective for meeting Group's financial & strategic objectives; Work with other IFRS17 teams to perform financial impact assessment, parallel run and the ad hoc financial assessment.
Governance & Controls: Ensure proper processes, governance and controls are in place for supporting the transition valuation process and the related audit review work
Stakeholder Management: Collaborate with various stakeholders (e.g. RHO, IT, FIN team, PMO, other IFRS17 teams and consultants) to ensure that the required deliverables can meet the agreed project schedule; Formulate project plan for team members to ensure timely delivery of tasks, escalating any potential show stoppers/ resources issues whenever necessary
People Management: Provide direction and technical supports to junior members of the team, regularly review their performance and provide constructive feedback
Fellow of the Society of Actuaries or equivalent
At least 7 years of relevant experience with minimal of 2 years at supervisory level
Solid experience in life insurance industry, preferably with UK with-profits management, economic capital (e.g. Solvency II) and financial reporting experience.
Modelling experience with Prophet and stochastic modelling software (e.g. Prophet ALS) is essential.
Possess in-depth knowledge to the IFRS 17 standard; Exposure to IFRS 17 project or analysis is essential.
Experience in project management, people management and coaching
A team player with good interpersonal skills, able to work independently and under pressure
Good command of both spoken and written English and Chinese