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Job Purpose
Prudential Vietnam's Participating (Par) business fund (the Fund) is one of the largest in the market, with over 1 million in force policyholders. Strong actuarial expertise is required within the company to ensure sound financial management of the Fund, while ensuring that all policyholders are treated fairly.
The individual will be accountable for delivering high-quality actuarial insights relating to the management and governance of Prudential's Par fund. This will include delivering the annual bonus study and bonus rate declarations, providing experience analysis insights of emerging trends within the fund, developing best practices for in force customer management, and working closely with other functions to unlock commercial opportunities for existing and new Par customers.
The individual will also play a key role in developing junior team members and contributing to strategic initiatives that enhance actuarial governance and business performance of Prudential's Par products and Fund.
Job Responsibilities
- Lead actuarial activities related to the annual Par bonus study, ensuring recommendations reflect Policyholder's Reasonable Expectations (PRE) and comply with internal governance policies and regulatory requirements, before conveying recommendations to both local and Group Par Committees (or their equivalent). Following this, collaborate with relevant business functions to ensure the bonus rates are successfully, and clearly, communicated to policyholders.
- Development enhancements to Par customer management, such as improved formats of communications to customers, to enhance PRE and customer understanding of their insurance products.
- Identify opportunities for existing Par customers to close their protection gap, collaborating closing with other functions (such as Customer, Product and Commercial teams) to develop suitable cross-sell propositions that meet customer needs.
- Contribute to the development and maintenance of company-wide policies such as the Par Fund Management Policy and experience study methodologies handbook. Strengthen actuarial governance by ensuring processes and documentation meet internal control and regulatory standards.
- Coordinate the preparation and review of actuarial and financial reports related to Par experience monitoring and management outcomes for internal management, Prudential Group, and regulators, ensuring accuracy and transparency.
- Provide leadership and guidance to junior team members across BAU tasks and ad-hoc actuarial investigations, fostering a collaborative and high-performance team culture.
- Support the Head of In-force Management in managing new initiatives, stakeholder expectations, and continuous improvement efforts.
Job Accountability
- Deliver assigned tasks and projects with accuracy, timeliness, and adherence to internal and regulatory standards.
- Maintain high-quality execution across all deliverables, with clear documentation and audit readiness.
- Build strong working relationships with internal and external stakeholders to support business objectives.
- Mentor junior team members and contribute to a culture of accountability, collaboration, and continuous improvement.
- Proactively manage stakeholder expectations and ensure transparent communication.
Job Requirements
Qualifications:/ Trình độ:
- Bachelor's degree in actuarial science, finance, mathematics, statistics, or a related field.
- Minimum 8 years of actuarial experience in life insurance, with the ability to demonstrate an application of actuarial technical rigour within the past roles.
- Experience of Par business pricing or management would be desirable.
- Strong understanding of insurance operations across the company, while some experience of producing customer-facing materials would be helpful.
- Excellent analytical, problem-solving, and communication skills.
- Progress in actuarial exams Associate or Fellow designation preferred.
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 sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.
