Senior Manager, Model Risk & Validation
Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.The role holder will be part of the Model Risk and Model Validation team, responsible for developing and embedding the Model Risk Policy and providing independent assurance and validation of the accuracy and appropriateness of key models used across the Group. The wider team is also responsible for the independent validation of the internal capital model in line with the GWS requirements of the HK IA.The team's responsibilities are expanding, and will soon cover:All model risk second-line oversight across the insurance and asset management entities.Coordination of all the model validations across the insurance and asset management entities.The role holder is expected to develop and maintain a continuous and significant interaction with a variety of stakeholders, including the Finance/Actuarial teams; Group-wide Internal Audit, other functions that build and use models and external stakeholders (e.g. regulators and external auditors).Principal responsibilities (Model Risk Role):ReportingContributing to the development and maintenance of the Group-wide Model Risk and UDA Policy.Supporting the review of validation of models and applications identified, used for a variety of purposes, including valuation and new business pricing.Contributing towards the monthly/quarterly model risk management information ("MI") and papers for submission to local risk committees and Prudential plc's Board and Risk Committee.Assist with ongoing initiatives to enhance our data analytics capabilities with respect to model risk.Country managementActing as a primary point of contact and expertise for local Chief Risk Officer's model risk requirements.Act as a senior representative for the country management within the KL team.Ensure model risk requirements are understood by model owners and provide necessary training to embed model risk culture into the country business activities assigned.Lead the agenda for risk process improvements for the country assigned.Escalate any instances of non-compliance or absent controls.Acting as representative at local technical committees in matters relating to model risk oversight.AssuranceAssisting review of the quality assurance of model risk processes and controls within the country assigned. There will be the opportunity to become involved in wider model assurance and validations activities.OtherPrudential is a large insurance company operating in a range of markets. The opportunities to be involved in other activities exist and are encouraged.Skills, knowledge and experience required:Qualified actuary with relevant level of experience and a life insurance or risk management background.Prior experience of model development or validation is preferable.Prior experience of working in the South Asian Market is preferable.Good understanding of local regulatory and accounting regime in Asia is preferable.Good understanding of economic valuation techniques as well as capital calculations.Good understanding of the key features of life insurance products and the types of risks associated with them.Prior experience of stakeholder management is preferred.An analytical mind-set with strong statistical/problem solving skills.Core competencies required:Strong documentation and verbal communication skills.Strong stakeholder engagement and communication skills.Highly motivated and able to work independently at times.Ability to provide challenge while being commercially orientated and pragmatic.A team player and flexible to adapt to a fluid environment.Ability to communicate with confidence to stakeholders.There may be a requirement to travel regionally and globally as needed.Prudential is an equal opportunity employer.We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of any status protected by applicable law.#J-18808-Ljbffr