Senior Manager, Model Risk & Validation

Prudential's purpose is to be partners for every life and protectors for every future.

The Senior Manager, Model Risk & Validation will join the Group-wide Risk and Compliance function, specifically the Model Risk and Model Validation Center of Excellence team.

Job Summary: The incumbent will be responsible for assisting with model validation preparation, executing validation activities for critical models, and helping to develop findings.

Principal Responsibilities:

• Actuarial model validation:
• Assisting with model validation preparation, including development of terms of reference, identification of scope, and fact-finding activities.
• Executing validation activities for critical models used for various purposes, including valuation, capital reporting, and new business pricing.
• Helping to develop findings, gaining senior stakeholders' support, and ensuring timely delivery of validation reports.
• Conducting ad-hoc analysis required by senior management to gain comfort with model use for decision-making.
• Reviewing critical model changes and associated validation reports.
• Carrying out Deep Dive reviews related to critical models.

• Reporting:
• Preparing model validation-related papers for the Group Actuarial Technical Committee and the Board/GRC.
• Preparing reports on material model changes in relation to critical models to provide assurance to relevant governance committees, the Board/GRC.
• Producing the Group-wide model validation update report, consolidating BU model validation reports into the Group validation report.

• Actuarial Model Validation Platform:
• Developing replication templates for critical models.
• Managing the model validation governance platform.
• Supporting standardization agenda in terms of validation framework and process improvements.

Requirements:

• Part-qualified actuary with at least 5 years of experience, preferably with a life insurance or risk management background.
• Familiarity with current and emerging model platforms and risks relevant to the Group.
• Prior experience in actuarial model testing, development, validation, or audit is preferable.
• Understanding of insurance revenue accounts, balance sheets, and risks to which insurers are exposed, as well as how they are modeled.
• Analytical mindset with strong statistical and problem-solving skills.

Core Competencies:

• Highly motivated and able to work independently.
• Team player with flexibility to adapt to a fluid environment.
• Ability to communicate confidently with stakeholders at Group and Business Unit levels.