Head of With Profits Management

Posted 5 April by Prudential UK & Europe Featured

Role Title: Head of With Profits Management

Management Level: Manages others

Reports To: Head of Actuarial and Capital Management

Location: Paddington, London or Stirling, Scotland

Travel Requirement: Occasional to UK sites

Recruiter: Stephen Fox


Working with Prudential as an Head of With Profits Management means becoming part of a brand with a global reputation and an exciting vision: to be the leader in helping customers achieve their long-term financial goals. If you’re inspired to join us, and if you have the necessary qualities, then this could be the opportunity you’ve been looking for. 


At Prudential we’re absolutely focused on getting the best outcomes for customers. Ours is one of the most profitable and trusted names in life and pensions, and we lead the market in a number of pension products.


We help people build their futures with long-term savings, investments and pensions. And with six million customers in the UK alone, we're one of the country's leading providers. We're also one of the longest-established, with roots going back to 1848.


This role is central to the Finance Management area which plays a crucial role, understanding the drivers of financial performance, policyholder considerations and using this insight to inform key business decisions.


As a technical leader, the Head of With Profits Management will lead the management of the With-Profits fund in order to maintain appropriate financial strength, ensure appropriate policyholder outcomes and drive the capital management agenda. The role-holder and his or her team will provide information and advice to the SRS decision makers and committees on investment strategy, bonus policy, pricing for new business, management actions, and the implications of key business decisions.


You will be expected to be proactive, forward thinking and strategic, and work in an influential and collaborative manner right across the business.


Purpose of the role:

To lead the management of the With-Profits fund in order to maintain appropriate financial strength and drive the capital management agenda.

To ensure policyholder interests are appropriately allowed for.

To lead the With-Profits agenda on behalf of Finance, drawing together key expertise from across the function to drive a leading edge approach


Experience:

Experience of communicating vision to gain support, motivate, and build a sense of shared purpose

Experience of coaching and guiding others in using advanced actuarial principles and methodologies to solve complex or unique problems in ambiguous or unique situations

Experience of using knowledge of the external environment to shape thinking internally

Significant experience of leading actuarial programs where new methodologies, frameworks and concepts are created

Experience of identifying and anticipating potential concerns for key stakeholders and using multiple strategies and methods to gain support for change

Significant experience of delivering advanced financial findings and results to an audience with varying degrees of technical understanding

Experience of working across the Finance and Risk (including the With Profits Actuary) functions and leading initiatives that ensure an holistic approach to supporting the business

Experience of challenging the commercial implications of decisions

Experience of using actuarial principles and tools and leveraging them to monitor adherence and highlight areas for improvement

Ability to establish credibility with the business

Detailed level knowledge of financial services regulatory and legislative frameworks

Experience of balancing the needs of the Policyholder and the Shareholder

Experience of leading technical teams


Knowledge:

Understanding of the regulatory environment, including expert level knowledge relating to Solvency I and Solvency II/Economic Capital

Knowledge of financial services regulatory and legislative frameworks, including those relating to the management of with-profits business

Expert level knowledge of capital management techniques e.g. reinsurance, securitisation

Detailed level knowledge of life and pensions products, markets and competitors


Personal attributes:

Ability to balance technical excellence and commerciality when exercising judgement


Professional qualifications:

Qualified Actuary


At Prudential we work hard to create an environment that enables everyone to flourish and we actively encourage diversity across the business. 


People who work at Prudential agree that ours is a great place to work with a brilliant team spirit. It’s also an innovative, high-performing commercial environment that’s totally focused on customers. As a Prudential colleague you’ll get all the support you’d expect, including full training and professional development. You’ll receive a competitive salary and reward package. And in a fast-changing world, you’ll join an organisation that’s leading the way in helping customers achieve their long-term financial goals.


Reference: 34561565

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