1+ months

Associate Actuary - MOD0005D

Newark, NJ
Apply Now
Apply on the Company Site
  • Job Code
  • Jobs Rated
Primary Location United States-New Jersey-Newark (NJ)
TITLE:              Associate Actuary

DUTIES:           Perform independent review for Prudential's in-house models as the second line defense. Reconcile parallel model and assist replicating results with error falling in a reasonable range. Utilize AAA ESG model and stochastic spread generator to generate yield curves and asset spreads. Review the asset investment dynamics based on the SAA and MAA strategy. Review the actuarial model processes including actuarial inputs and assumptions, liability projection, asset strategy, and investment and reinvestment strategy. Make sure that the retirement product pricing model meets the GAAP and Statutory regulations. Perform the RBC/RAC capital methodology review. Perform sensitivity testing for certain key assumptions to ensure they are consistent with documentation and product specifications. Analyze statistical data, such as mortality, marital rates and retirement rates to construct probability tables which forecast risk and liability for payment of future benefits. Ascertain insurance and premium rates required and cash reserves necessary to ensure payment of future benefits. Employ risk management strategies when evaluating and pricing pension plan liabilities. Utilize the Microsoft Access models, R and VBA to perform the model review activities. Perform the testing of investment, finance and risk models and set up regular meeting with key stakeholders of the model reviewed to discuss and update the review results. Write up the model review reports and review findings and observations. EOE.


REQTS:             Bachelors degree or foreign equivalent in Applied Mathematics, Actuarial Science, or a related field plus three (3) years of experience in the position offered or as an Actuarial Associate, or a related position. Must have three (3) years of experience with all of the following: Actuarial model processes including actuarial inputs and assumptions, liability projection, asset strategy, and investment and reinvestment strategy; GAAP guidelines; Statutory regulations including RBC capital methodology; Microsoft Access modeling tools; R; VBA; Pension Plan Liabilities and Pension Risk Transfer (PRT); Sensitivity Testing; Periodic model Validation; Testing of investment, finance and risk models; and Regulatory Inquiries.


HOURS:            Full time; Mon- Fri (40 hrs/week)


APPLY:              Apply by clicking Apply below and following instructions to submit resume

@!*!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.
Job Posting:@false

Jobs Rated Reports for Actuary

Posted: 2020-06-09 Expires: 2020-11-05
Sponsored by:
ADP Logo

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Associate Actuary - MOD0005D

Newark, NJ

Join us to start saving your Favorite Jobs!

Sign In Create Account
10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

Work Environment
Very Good
Very Good
Powered ByCareerCast