Prudential - Deputy Manager - Actuarial

Job Title : Deputy Manager - Actuarial (Level 2B) [Senior Trainee]

Reports to : Actuarial - Deputy Manager / Manager

About Prudential :

- Prudential plc's strong mix of businesses around the world positions us well to benefit from the growth in customer demand for asset accumulation and income in retirement. Our international reach and diversity of earnings by geographic region and product will continue to give us significant advantage.

- Our commitment to the shareholders who own Prudential is to do everything we can to deliver them the best possible value over the term of their investment, consistent with prudent management of the Group. We do this by investing for the long-term to develop and bring out the best in our people and our businesses to produce superior products and services, and hence superior financial returns. Our aim is to deliver top quartile total shareholder returns among our international peer group.

- At Prudential, our aim is to create and retain lasting relationships with our customers and policyholders, through offering relevant products and services that give them value for money and security. We also seek to enhance our Company's reputation, built over more than 150 years, for integrity and for acting responsibly within society.

About PPMS : PPMS is a wholly owned subsidiary of Prudential Plc.UK based out of Powai Mumbai, through businesses in Europe, Asia, and the United States, provides retail financial products, services and fund management options to customers. Established in 1848, today Prudential is a leading international financial services company with some 21 million customers, policyholders and unit holders and more than 27,000 employees worldwide. In UK, Prudential is a leading life and pensions provider having over seven million customers.

Scope of the Role : Prudential Group

UK Business Area : Prudential business

Key departments / areas of responsibility : Actuarial

Overall Job Purpose :

To work under the direction of a Qualified Actuary or other more senior team members.

- As a Senior Trainee the person will be required to work in a number of teams across the department. The technical requirements of each role will vary depending on the team the person is in, and will be reflected in her/his annual objectives.

- Carry out specification and execution of actuarial processes such as Valuation and Reporting, Pricing and Product Development, Calculations support, Deterministic and Stochastic Modelling, Experience Analysis and Model Point Generation, Actuarial SOX testing, etc- to meet project deliverables within agreed timelines.

Roles and responsibilities :

Key responsibilities:

- Undertake numerical analysis and manipulation using a range of systems and actuarial tools.

- Prepare and document simple computer programmes and models to clearly defined requirements.

- Support a range of management reports and returns.

- Respond to straightforward technical queries.

- Provide support and guidance to more junior members of the team in a range of project work as and when required.

- Seek and act on opportunities to develop wider and deeper technical and business understanding.

- Draft and maintain up-to-date, appropriate documentation and checklists for any processes that are implemented.

- Compliance - Ensure understanding and adherence to Prudential's Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements.

- Monitor business and external developments related to own area of responsibility and propose consequent changes to established procedures.

- Financial Controls - Ensure all expenditure commitments (orders, contracts, budgets etc) and all payments are properly authorised, controlled and monitored, in accordance with Prudential UK delegated authority requirements. The responsibilities of expenditure authorisers are documented in the Prudential UK Financial Procedures Manual.

- Responsibility for supervision of other team members or managing a small team and own the delivery of that team for allocated pieces of work or project management.

- Supervise the work of more junior team members (graduate trainees; junior trainees), monitoring work progress against standards and deadlines.

- Performance Management - Follow and contribute to the recognised Performance Management process. Ensure delivery of People Management Pru and that all its processes and tools are fully utilised in managing people allocated to him/her.

Business Influence:

- Good commercial appreciation and attitude.

- Good level of understanding of the financial dynamics of our business and how key factors influence the various financial measures.

Problem Solving:

- Maintain and develop knowledge of technical requirements of job together with the framework in which Prudential operates.

- Ability to confidently express own viewpoint and to clearly and simply communicate actuarial issues within their team.

- Ability to develop clear, workable plans for self; monitor progress; ensure deadlines and commitments are met.

- Ability to think through issues at hand (People / Technical) and propose line of action, solution and way forward.

- Ability to review existing processes within the team and propose structured and executable process improvement initiatives.

Working Together:

- Ability to effectively influence colleagues.

- Ability to plan and prioritise own and team's workload.

- Ability to deliver on multiple tasks to demanding timescales.

- Communicate effectively with others, develop positive networks and working relationships.

- Good level of Stakeholder management skills.

- Ability to independently handle a project and carry out resource and budget management.

Competence / Knowledge / Skills required :

- 5-7 years of relevant Actuarial experience.

- A student member of the Institute or Faculty of Actuaries and / or Indian Institute of Actuaries. Should have accumulated up to 18 credits (equivalent to ~14 Actuarial examinations).

- Actively studying for and making satisfactory progress with the Institute / Faculty exams as defined in the Mumbai Actuarial Study Support Policy.

- Good level of understanding of the Financial Services industry and regulatory environment.

- Some knowledge of significant regulatory processes within Prudential UK operations.

- Good knowledge of Prudential / Insurance company's products.

- Experience of financial reporting and actuarial modelling for a Life Assurance company.

- Thorough understanding of at least one function / team within Actuarial and ability to deliver on assigned tasks independently.