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.
This role acts as a business partner, who evaluates business cases and evaluates the cost effectiveness of the spent. This role will focus on Partnership Distribution, AD recruitment and channel/product compensation.
Job Description:
- Lead / Be involved in the formulation and evaluation of the High Net Worth strategy which includes but not limited to evaluation of feasibility of own UL product, compensation of PLVA and UL, working as finance lead in the projects
- Lead / Be involved in the strategy of entanglement of bank partners which will include but not limited to review of commission of key products,
- Lead the review of compensation of protection products to improve the competitive advantage of these products
- Responsible for the implementation of these initiatives across the Actuarial departments
- Work with Agency Distribution/Partnerships Distribution/Customer to design, review and recommend changes to Agency Distribution/Partnerships Distribution compensation and incentives to achieve business objectives
- Obtain relevant approval for large compensation changes in compliance with PCA’s IAN requirement.
- Support Agency Distribution in designing and implementing Master GAM structure to achieve business objectives.
- Monitor the performance of Master GAM and derive appropriate adjustment based on to sales performance.
- Support agency recruitment by developing the most effective means to achieving recruitment targets and objectives.
- Review the effectiveness of various recruitment schemes and work with RMD to implement further improvements
- Review and support the implementation of PD strategies, especially from product strategies and compensation analytics perspective.
- Understand the impact and implication of such initiatives and provide coordination within Finance and Actuarial where appropriate
- Lead a team and is accountable for the KPIs and development of the members
- Develop department plans, controls, resources and formulate policies in area of responsibility
- Look beyond existing solutions and own area to define/resolve complex issues in new situation
Who we are looking for:
Competencies & Personal Traits
- Able to handle pressure and meet tight deadlines
- Strong analytical skills, fast learner and self-motivated
- Able to communicate technical actuarial theory in layman terms
- Ability to carry out financial evaluation
- Good understanding of life insurance operations
- Good excel and PowerPoint skills
Working Experience
- At least 8 years of relevant experience in finance or actuarial roles or positions
Education
- Degree in Actuarial
Language
- English
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.
