16 days old

Associate Actuary (ILI Valuation) - ACT000RI

Prudential
Newark, NJ
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  • Job Code
    582022
  • Jobs Rated
    10th
Primary Location United States-New Jersey-Newark (NJ)
Job:Full-time
Travel:
Description
!*!

The GAAP Valuation team within the Individual Life Insurance (ILI) Valuation function is responsible for preparing the actuarial portion of the GAAP results and the underlying earnings story of the Individual Life business. The team is seeking an Associate Actuary to help drive execution of the monthly production process and produce insightful analytics that crisply explain results to business partners and management. The ideal candidate will have a focus on, and ownership mentality of, all reporting-related tasks and a passion for developing insights for business partners and ILI management to drive business outcomes.

 

Responsibilities


Complete monthly production tasks in a timely manner to support reporting of various GAAP balances (DAC, URR, SOP03-1, Cost of Reinsurance, Loss Recognition, and FAS133 Embedded Derivative), which may include review of inputs received from business partners, valuation system runs, and preparation of reports and analytics


Produce insightful analytics around monthly GAAP valuation processes to drive business insights, linking actuarial movements to underlying drivers of the ILI business


Exhibit an ownership mentality with business partner deliverables (Finance, Forecasting) to thoroughly understand downstream uses to drive insights and outcomes.


Utilize available technology to develop and enhance analytics and reporting tools for more efficient and effective communication of results to management and stakeholders.


Proactively analyze predictors of monthly change in reserve balances to ILI management and business partners.


Work closely with Modeling associates to perform user acceptance testing of enhancements to ILI valuation system and Liability Data Warehouse to ensure accuracy of amounts booked to ledger accounts and monthly attributions of GAAP balances.




Qualifications
@!*!

Strong organizational and project management skills coupled with a high degree of curiosity on current processes and systems


Ability to critically review own work and work product of other team members


Ability to collaborate to develop creative yet practical solutions to challenging problems in order to meet the needs of customers


Ability to partner effectively with colleagues across multiple business groups and corporate areas


Excellent oral and written communication skills

3 years of experience, with progress toward ASA designation

The following are a plus, but not required:

Some coding experience (vba, C , Python, etc) or actuarial model experience (PolySystems, MG-ALFA, Prophet, Moodys AXIS, etc.)


Experience with Tableau, Power BI, or other demonstrated execution of manipulating, summarizing, and visualizing large data sets


Prior GAAP reporting experience and/or familiarity with individual life insurance products

 



@!*!Prudential is a multinational financial services leader with operations in the United States Asia Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise Prudential is focused on helping individual and institutional customers grow and protect their wealth. The companys well-known Rock symbol is an icon of strength stability expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services including life insurance annuities retirement-related services mutual funds asset management and real estate services. For more information please visit www.prudential.com.

Prudential is not accepting unsolicited resumes from search firms for this open position unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. All resumes submitted by search firms to any employee at Prudential via-email Internet or directly to hiring managers in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential and no fee will be paid in the event the candidate is hired by Prudential.
Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. Prudential has established and regularly maintains a preferred vendor list and even preferred vendors need to have a written search agreement signed by the Director Recruiting Programs Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.
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Jobs Rated Reports for Actuary

Posted: 2020-03-21 Expires: 2020-04-20

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Associate Actuary (ILI Valuation) - ACT000RI

Prudential
Newark, NJ

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