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 group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003.
Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
M&G Global Services has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G’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. Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
Job Description
Job Title
Senior Manager
Grade
2B
Level
Experienced colleague
Manager/ Individual Contributor
Manager
Job Function
Finance - Actuarial
Job Sub Function
ICM development team
Reports to
AVP – Actuarial
Location
Mumbai
Business Area
M&G Global Services
Overall Job Purpose
To work under the direction of an Actuarial Manager or other senior members.
As the Lead of the team, the person will be required to provide technical assistance to more junior members in the team as well as look after the people management responsibilities for the direct reports.
The job would involve carrying out the tasks for the process to meet deliverables with an acceptable standard of quality and within agreed timelines. It may also involve delivering through junior members.
Primary Key Responsibilities (Top 3-5 KRA)
- To lead on assigned developments in the team required to enhance the performance of capital models. Independently Carry out various tasks for lite model developments in RAFM and process improvements. Develop various tools used to produce the inputs for the models and help analyse the model results. Automate the processes wherever possible.
- Collaborate with the team to plan and execute independent testing of the new models due to be released covering all possible test scenarios. Draft and maintain up-to-date, appropriate documentation and checklists for any processes that are implemented. Support the release management process every quarter during model release.
- Financial Controls – Ensure all expenditure commitments (orders, contracts, budgets etc) and all payments are properly authorised, controlled and monitored, in accordance with M&G IndiaUK delegated authority requirements. The responsibilities of expenditure authorisers are documented in the M&G IndiaUK Financial Procedures Manual.
- Responsibility for supervision of other team members or managing a small team and own the delivery of that team for allocated pieces of work or project management. Supervise the work of more junior team members, monitoring work progress against standards and deadlines.
- Performance Management – Follow and contribute to the recognised Performance Management process. Fully utilise all the processes and tools in managing people allocated to him/her.
Additional Responsibilities :
- Work closely with colleagues at different geographical location, ensuring seamless communications.
- Seek and act on opportunities to develop wider and deeper technical and business understanding of capital models.
- Build good working relationships with stakeholders in wider team and outside of the team.
- Monitor business and external developments related to own area of responsibility and propose consequent changes to established procedures.
- Maintaining effective communication with Stakeholders and leadership team members.
- Provide support and guidance to more junior members of the team.
- Compliance – Ensure understanding and adherence to Prudential’s Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements.
Problem Solving:
- Maintain and develop knowledge of technical requirements of job together with the framework in which M&G India operates.
- Ability to confidently express own viewpoint and to clearly and simply communicate actuarial issues within their team.
- Ability to develop clear, workable plans for self; monitor progress; ensure deadlines and commitments are met.
- Ability to think through issues at hand (People / Technical) and propose line of action, solution and way forward.
- Ability to review existing processes within the team and propose structured and executable process improvement initiatives.
Working Together:
- Ability to plan and prioritise own workload.
- Ability to deliver on multiple tasks to demanding timescales.
- Good level of Stakeholder management skills.
- Ability to effectively influence colleagues.
- Communicate effectively with others; develop positive networks and working relationships.
People Management:
- Perform regular 1-1 with the direct reports (if applicable).
- Manage the training needs of the team and ensure suitable trainings are arranged for team members (if applicable).
- Contribute to the development of the team members by appropriate coaching / guidance (if applicable).
- Work with the team manager in contributing in efficient functioning of actuarial function and capital production team.
Key Stakeholder Management
Internal
Head of ICM development team.
Senior leaders in the wider PAC modelling team.
Mumbai Actuarial leadership team.
External
Knowledge, Skills, Experience & Educational Qualification
Knowledge & Skills (Must Have) :
- Confidence & excellent communication
- A student member of the Institute or Faculty of Actuaries and / or Indian Institute of Actuaries with 6-12 exams cleared.
- Actively studying for and making satisfactory progress with the Institute / Faculty exams as defined in the Mumbai Actuarial Study Support Policy.
- Good MS Excel & MS Word knowledge
- Good understanding and experience of reporting measures such as SII and Ecap
Knowledge & Skills (Additional) :
- Added advantage for experience in Capital reporting
- Experience of VBA would be an advantage
- Awareness of the Financial Services industry and regulatory environment.
- Some knowledge of significant regulatory processes within Prudential UK operations.
- Good level of business influence skills like commercial appreciation and attitude required.
- Good level of understanding of the financial dynamics of our business and how key factors influence the various financial measures.
Experience:
- 7-10 years of relevant Actuarial experience
Educational Qualification:
- Graduate in any discipline / Masters in Actuarial Science/Statistics/Economics/Mathematics/Engineering/MBA
- A student member of the Institute or Faculty of Actuaries and / or Indian Institute of Actuaries with 8 plus exams cleared.
- Actively studying for associateship/fellowship with the Institute / Faculty exams as defined in the Mumbai Actuarial Study Support Policy.
M&G Behaviours relevant to all roles:
Inspire Others: support and encourage each other, creating an environment where everyone can contribute and succeed
Embrace Change: be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
Deliver Results: focus on performance, set high standards and deliver with energy and determination
Keep it simple: cut through complexity, keep the outcome in mind, keeping your approach simple and adapting your message to every audience
We have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.
