Prudential - AM - Actuarial Auditor

Assistant manager -Actuarial Auditor

Position reports into: Deputy manager – Actuarial Auditor

Roles and Responsibilities:

- To work under the direct supervision and guidance of the Director IA to generally achieve the following for PPMS and GwIA function:

Internal audit

- Plan audit assignments. This will involve collating information on the area being audited including key systems, organisational structure, financial and budgetary information, any legal or regulatory requirements etc. The planned phase will involve dialogue and interviews with the management responsible for the area being audited. The Deputy Manager should then brief the audit team, where applicable, on their respective roles. The Audit Manager should also be kept informed on the evolution of the planning work.

- Being able to properly assimilate the information provided by the BU Audit Manager from the Planning phase of the audit. The Deputy Manager should be able to understand the business background of the area being audited; and their role in the audit assignment. It maybe necessary from time to time, for the Deputy Manager to assist the Manager in conducting the planning phase of the audit.

- Document the key processes and associated controls being examined in the audit – the Deputy Manager would be involved in the more complex activities being reviewed.
This will involve the use of flowcharts where necessary. The Deputy Manager should be able to complete a control and risk assessment matrix following their documentation of the systems and processes being reviewed.

- Create a Test Programme to check that the controls identified in the risk assessment exercise are working properly.

- Address any review points raised during Audit Review/ QRA.

- Review the working papers of Auditors on the assignment, where applicable, to ensure they comply with the agreed standards.

- Review, and amend as necessary, the testing programmes prepared by the Auditors, where applicable.

- Perform testing as required.

- Draft audit conclusions based on control and risk evaluation and associated testing. Practical recommendations for any remedial action should be made.

- Draft the internal audit report for discussion with the BU Audit Manager and Auditee

- Discuss and finalise the findings and observations with the management responsible for the activities being audited.

- Perform people development activities through participation in hiring, management and development of team

- Promote GwIA and the service it provides by building strong and effective working relationships with senior management, other staff and external auditors

- Populate Auto Audit with planning, fieldwork and reporting data

- Support the process of reviewing evidence of delivery against recommendations through to closure.

- Ensure IA recommendations are complementary to the business strategy.

- Ensure efficient closure of IA recommendations.

- Plan and deliver IA reviews of consistently high quality.

- Implement the Prudential Performance Management process locally, and work with internal and external bodies to facilitate professional and other staff training solutions within budgetary constraints.

- Delivery of Project Work (e.g. Production of Audit Committee Papers, Scheduling, or, Annual Planning).

This job will involve significant travel outside India.

Competence / Knowledge / Skills required:

- Technical Actuarial Qualifications and knowledge

- At least 5-7 years of relevant actuarial work experience based on Life, Pensions or Health

- Should have cleared 7 to 9 Actuarial papers

- Should have worked on a variety of actuarial processes during his/her tenure (for eg. Pricing, valuation, product support, etc.)

- Good understanding and knowledge of Actuarial modelling techniques

- Good understanding and knowledge of actuarial tools, techniques and procedures (including control frameworks for actuarial processes)

- Ability to interpret simple and complex actuarial formulae

- Awareness of reporting and regulatory requirements relevant to Prudential Group (Atleast one of Solvency 2, Embedded Value, Statutory and Realistic Reporting)

Skills

- Good time management

- Good interpersonal skills

- Ability to grasp issues quickly and provide pragmatic solutions to identified problems

- Ability to gather, summarise, and examine data or information and Identify implications of findings

- Proficient with Office applications

- Good report writing skills

- Good MS Office skills

- Analytical skills

- Decision making

- Planning and organizing skills

About PPMS:

PPMS is a wholly owned subsidiary of Prudential Plc.UK based out of Powai Mumbai, through businesses in Europe, Asia, and the United States, provides retail financial products, services and fund management options to customers. Established in 1848, today Prudential is a leading international financial services company with some 21 million customers, policyholders and unit holders and more than 27,000 employees worldwide. In UK, Prudential is a leading life and pensions provider having over seven million customers.

Note: The role is based out of Mumbai - Powai

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