Senior Manager, IFRS17 Transition System & Data Management
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 system management, formulate the valuation process including the data extraction, transformation and allocation, and perform financial results assessment. Accountabilities:
- Implementation for Transition: Determine and develop the optimal transition system requirements and data transformation process used for the determination of IFRS17 Opening Balance Sheet; Manage the transition data extraction and allocation process to ensure that it is in line with the transition methodology and approach.
- Financial Results Assessment: Provide technical actuarial advice on the transition methodology and the approach from actuarial system and data 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, 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
- University graduate
- Minimum of 10+ years of relevant experience with minimal of 3 year at supervisory level, candidates with less working experience will be considered as Manager
- Solid experience in life insurance industry, preferably with UK with-profits management, economic capital (e.g.
- Solvency II) and financial reporting experience.
- Possess in-depth knowledge to the IFRS 17 standard; Exposure to IFRS 17 project or analysis is essential.
- Modelling experience with Prophet and stochastic modelling software (e.g. Prophet ALS) is a plus
- 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