1+ months

Associate Actuary - MOD0005F

Newark, NJ
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Primary Location United States-New Jersey-Newark (NJ)

EMPLOYER:       The Prudential Insurance Company of America


TITLE:              Associate Actuary

LOCATION:       Newark, NJ

DUTIES:          Understand Model Risk Management Framework from Enterprise Risk Management control perspective. Work on project-based schedule that covers wide variety of Prudential actuarial, investment and risk models, including models for purpose of Pricing, Valuation, Forecasting, Asset Adequacy Testing, Loss Recognition Testing, Dividend Scale Rate Determination, Capital Management, and Credit Risk Management. Review models used by various business units, including Prudential Individual Life, Prudential Annuity, Prudential Retirement, Prudential Closed Block, Prudential International Insurance and Prudential Global Investment Management. Review models for various product types, such as Universal Life, Variable Universal Life, Traditional Life Insurance, Structured Settlement Product, US Funded Pension Risk Transfer, UK Longevity Reinsurance, Variable Annuity with Living Benefit Guarantees, and Commercial Real Estates Mortgages. Collaborate with business partners such as Model Owners, Model Steward, Model Control Office, Corporate Assumption/Pricing/GAAP/Statutory Governance, and Internal Audit to perform effective model reviews and discuss model review findings. Analyze risk profile of model under review and design review strategy and review activities from risk-based approach. Perform model review activities, including Input Review, Assumption Review, Methodology Review, and independent testing such as replication, benchmarking, back testing, sensitivity testing and output analytics. Document model review activities and model review results in professional internal reports. Prepare external memo to communicate model review findings with business partners. Assist team leaders with project management, mentor and lead entry level associates during model reviews. Participate actively in Model Risk Management Framework discussion and contribute to the development of Prudential model risk team.


REQTS:             Must have a Bachelors degree or foreign equivalent in Actuarial Science plus four (4) years of experience in the position offered as an Associate Actuary,  Senior Actuarial Associate, Actuarial Associate or related. Must have four (4) years of experience with: Actuarial Modeling Software: GGY Axis; VBA; Access SQL; C programming; R programming; Pricing Methodologies for Life Insurance and Annuity Products; Valuation Methodologies for Life Insurance and Annuity Products; GAAP/Statutory/Tax/IFRS Accounting for Life Insurer; Economic Capital Framework; Financial Economics; Enterprise Risk Management; Required Capital and Capital Management; Reinsurance; and Chartered Financial Analyst (CFA) financial market methods.


HOURS:            Full time; Mon- Fri (37.5 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.
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Posted: 2020-06-18 Expires: 2020-11-18
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Associate Actuary - MOD0005F

Newark, NJ

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10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

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