Actuarial – IFRS 17 Specialist

Actuarial – IFRS 17 Specialist

Prudential Singapore
Singapore
2-7 years
Not Specified

Job Description


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 everyones ideas are valued and a culture where we can thrive together. Our people stay connected and tuned in to whats 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.As the member of the International Financial Reporting Standard (IFRS) 17 Program Office, you will participate in the local implementation of the standards for Prudential Singapore.
We are looking for candidates who are passionate about financial reporting to participate in various workstreams within Actuarial.
Technical & Financial
  • Review and provide feedback to the regional-wide technical interpretation of the standards from the perspective of LBU
  • Perform technical analysis and support the development of both local and regional accounting policies
  • Review the business requirement according to the technical decisions for requirement of the standards
  • Perform financial impact assessment and business planning under IFRS17 basis
  • Develop new MI, financial analysis and disclosure
  • Support the review of the opening balance sheet and parallel run results
  • Provide guidance to other teams including Finance and IT in terms of technical interpretation and business requirements

Transition
  • Perform data availability assessment and document the findings
  • Determine the transition approach based on the regional guidance
  • Work with modelling team to form a detailed model structure and create historical models for transition
  • Prepare the data including model, model points and assumptions in an auditable manner for transition runs
  • Assess the use of estimates and recommend the approach to create such estimates to achieve a desirable financial outcome
  • Participate in transition tool build for the opening CSM calculations
  • Perform model runs and financial analysis of the results for the opening CSM balance
  • Produce the opening balance sheet and its documentation in an auditable standard

Solution
  • Review and provide feedback to the regional deliverables for solution design & build that affect Actuarial
  • Act as actuarial advisor in local solution design & build
  • Support the development of data and system specifications for IFRS17
  • Support IT on source system enhancement based on the detailed data gap analysis
  • Provide actuarial support to IT in building the end-to-end ETL tools
  • Participate in UAT for ETL tools, source system changes and sub-ledger system
  • Drive the development and implementation the new end-to-end reporting process and control for Actuarial
  • Provide actuarial support to the Finance division initiative on reporting process re-engineering

Who we are looking for:
Competencies & Personal Traits
  • Passionate about financial reporting
  • Motivated and pro-active
  • Detailed oriented and work independently
  • Strong technical and analytical skills
  • Committed to excellence and always strive to deliver results with high standards
  • Good understanding of insurance products
  • Good working knowledge of Prophet systems and valuation data management program (such as SQL) is a plus

Working Experience
  • 2 - 7 years (SE M level) of actuarial experience or any other analytical role
  • Fresh graduate is welcome to apply

Professional Qualifications
  • Actuarial qualification is preferred but not necessary

Education
  • Degree in Actuarial, Mathematics, statistics or Finance

Job Details

Prudential plc is an Asia-led portfolio of businesses focused on structural growth markets. The business helps individuals to de-risk their lives and deal with their biggest financial concerns through life and health insurance, and retirement and asset management solutions. Prudential plc has 20 million customers and is listed on stock exchanges in London, Hong Kong, Singapore and New York. We are proud to be one of the 380 companies across 11 sectors included in the 2021 Bloomberg Gender Equality Index. The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. Our inclusion in this global index is testament to our commitment to nurturing diverse talent. #BloombergGEI. https://www.bloomberg.com/geiPrudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

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