Actuarial Pricing - Senior Manager

  • Jakarta
  • Prudential Plc
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.Support Actuarial Pricing and Reinsurance Management function within Pricing department. Stakeholder management (senior management, group, channels) and management of a couple of pricing team members.Assist pricing head with the following key responsibilities:1. Product PricingGenerate new product ideas that is fit and suitable for marketExecute product ideas that includes delivering a product to the market that is appealing to both customers and distribution as well as generating good returns to shareholdersSupports key financial KPIs: ie. NBP margin, OFSG, persistency, expense and claims variancesDeliver all required submissions/filings to both local regulator (OJK) and Group for product and campaign approvalsManage projects, provide guidance and assistance to the respective pricing managers/members for pricing technicalitiesEnsure that all the internal process and regulations are followed in product pricing including completion of all required documentationReview and sign-off on all product specsResponsible for engagement with OJK on pricing and reinsurance related issuesWork closely with related departments for preparing quotation, product specification, product system, marketing materials, etc.2. Reinsurance ManagementCommunication of requirements to reinsurers and rate negotiationObtain approval from local and Group for changes in reinsurance arrangement/strategyManage signing of reinsurance treaties or addendumYearly review of retention limits and restructuring of reinsurance arrangements to extract more reinsurance value3. Team managementManage a couple of pricing teams that are each headed by a Pricing Manager/Assistant ManagerEnsure development of the pricing actuaries, in line with the career interest and opportunity