Actuarial - Policy Breaches

We are M&G Global Services Private Limited (formerly known as 10FA India Private Limited, and prior to that Prudential Global Services Private Limited). We are a fully owned subsidiary of the M&G plc group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003. The company has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G plc’s ambition to be the best loved and most successful savings and investments company in the world.

Our diversified service offerings extending from Digital Services (Digital Engineering, AI, Advanced Analytics, RPA, and BI & Insights), Business Transformation, Management Consulting & Strategy, Finance, Actuarial, Quants, Research, Information Technology, Customer Service, Risk & Compliance and Audit provide our people with exciting career growth opportunities.

Requirement:
Key responsibilities:

- This role will require the holder to work closely with UK based team members to identify and resolve faults which have resulted in policyholders receiving incorrect payment amounts.
- The work will involve investigating root causes of issues, specifying system scans to extract policyholder data, analysing output to identify impacted customers and proposing solutions with regard to the customer impact.
- In many cases, the role will be as part of a project team working together on a specific fault but in other cases, a greater level of independent work will be required and also should be able to develop independent models (UDA’s) to get an understanding of the calculations performed.
- The role requires ability to understand Actuarial calculations based documents and respond to straightforward technical queries.
- Liaise with and challenge IT teams to resolve issues in an efficient and timely manner
- The individual needs to be able to review detailed calculations and translate to a diverse range of individuals, e.g., IT, project managers, actuaries
- Carry out manual actuarial calculations based on policy documents.
- Prepare and document simple models to clearly defined requirements.
- Strong team player, with ability to work in a team or on a project single handed
- Carry out work to an agreed plan, producing deliverables in an agreed timescale
- Good level of interpersonal and networking skills, to develop effective working relationships with team colleagues and internal/external business contacts.

Problem Solving:

- Strong problem solving capabilities and to build individual tools for reconciliation of results.
- Maintain an ‘audit trail’ and version control to demonstrate the adequacy of the spreadsheet controls for future enhancements to the product.
- Devise and implement efficient and secure procedures for data handling and analysis with attention to all technical aspects.
- Draft and maintain up-to-date, appropriate documentation and checklists for any processes that are implemented.
- Ability to audit, identify and discuss defects, record them and subsequent fixes
- Monitor business and external developments related to own area of responsibility and propose subsequent changes to established procedures.
- Liaise with development, business and systems support teams
- Seek and act on opportunities to develop technical and business understanding.

Working Together:

- Ability to effectively influence colleagues
- Ability to work in agile structure to provide regular team updates
- Ability to plan and prioritise own workload
- Ability to deliver on multiple tasks to demanding timescales
- Communicate effectively with others, develop positive networks and working relationships

Competence /Knowledge / Skills for Internal Applicants

Mandatory:

- A numerical based degree or Post Graduate qualification
- Should have cleared 6+ Actuarial papers
- To have 6+ years of Actuarial experience
- Ability to work both independently and as part of a cross-site team (UK and India)
- Strong communication skills to explain complex solutions to colleagues without Actuarial knowledge
- Proven ability to set up strong processes and handling big data
- Track record of being a fast learner as evidenced by job performance (and exam progress for Trainees), with some knowledge of significant regulatory processes within Prudential operations
- Good knowledge of the Insurance business with ability to understand Actuarial terms and calculations. Should not have dependencies on the type of project or location in the business.
- Good team player - the execution stage is crucial to the success of the project and it is essential to be able to contribute fully to the team effort
- Strong communication skills - written and verbal

Desired:

- 8+ years of relevant actuarial work experience
- Experience of data analysis
- Prior team handling experience
- Knowledge of UK Life Insurance products types
- Good planning and problem solving skills
- Flexible approach to responsibilities, working hou