Director, Economic Capital & Actuarial Modelling
Hong Kong

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.

The Prudential Corporation Asia (PCA) Finance team is looking for an experienced actuary to lead the regional Economic Capital team.

This includes overseeing the separate sub-teams of economic capital modelling, methodology and production, and reporting.

The role holder will be responsible for ensuring the timely production and communication of economic capital results for regulatory and management reporting, risk management, as well as any other economic capital MI required for decision-making purposes.

PCA is an Asian market leader in economic capital having until recently been reporting under the European Solvency II regime as well as having had a robust economic capital measure for many years.

The role offers a breadth of exposure across some of the most advanced internal capital modelling and risk management frameworks in the market.

Within this role the holder will be expected to lead the economic capital production and reporting process across the span of PCA’s insurance LBUs, as well as being the main conduit for facilitating and embedding the use of economic capital information for risk management and decision-making at PCA.

The role offers significant interaction with Group stakeholders and LBUs to ensure that the above deliverables can be met.

There will be frequent interaction with the Group Actuarial and Risk teams to discuss methodology and calibration enhancements, reporting requirements, and overall communication of economic capital results, as well as LBU visibility to ensure that relevant information is available and LBUs views are represented at the regional level.

Key accountabilities include :

Results production :

1. Deliver economic capital results to key stakeholders at regular reporting periods. Ensure that the team delivers economic capital results with clear commentary and P&L attributions.

2. Communicate to senior management the economic capital movements from period to period, the likely business impacts and any key issues arising.

3. Overall responsibility for the production process for region wide economic capital reporting which includes Prophet models and economic capital specific proxy models.

4. Ensure that the region’s economic capital methodology is aligned to the Group framework, ensuring a balance between theoretical requirements and practical realities.

Embedding the economic capital metric

1. Actively increase the awareness of the users and economic capital results production teams of the potential use and existing disclosure requirements.

Support the business to transition deeper into a manage with economic capital from the existing measuring economic capital metric .

2. Support the wider business functions where economic capital can be used in decision making.

3. Support the LBUs in economic capital related activities.

People management

1. Lead by example from a people management perspective.

  • Proactively manage relationships to be recognized as the key, trusted PCA point of contact on PCA and LBU Actuarial issues relating to economic capital
  • Provide learning and development opportunities for junior team members and support the rotation of staff around the region
  • Candidate Specifications :

  • 12+ years of relevant experience
  • Strong technical knowledge of economic capital and actuarial modelling
  • In particular, familiarity with Internal Models under the Solvency II regime would be a significant advantage
  • Ability to interact and influence key stakeholders across Finance and Risk
  • Prior knowledge of a range of insurance products and common reporting metrics (e.g. IFRS, EEV, local solvency regimes) is expected
  • Prior experience of Par products and management practices would be very beneficial
  • Ability to lead and inspire a team of junior actuaries across a range of diverse modelling tasks
  • Ability to build relationships, particularly with LBUs where influencing skills may be required
  • Fluent in both spoken and written English is essential (ability to speak one or more Asian languages would be desirable)
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