23 days old

Associate Actuary - RET000JC

Prudential
Newark, NJ
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  • Job Code
    582320
  • Jobs Rated
    10th
Primary Location United States-New Jersey-Newark (NJ)
Job:Full-time
Travel:
Description
!*!

EMPLOYER:       The Prudential Insurance Company of America

 
TITLE:              Associate Actuary
 
LOCATION:       Newark, NJ
 

DUTIES:           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. Calculate the duration of pension plan cash flows. Run models that calculate capital shocks that feed into required capital calculations for pension risk transfer product pricing. Develop, enhance, and maintain models used for Pension Risk Transfer (PRT) capital frameworks. Support internal efforts to continuously improve Pricing Frameworks for PRT and other Prudential Retirement products. Assist and educate pricing teams of all Prudential Retirement products on topics related to regulatory and economic capital frameworks. Collaborate with modeling and pricing teams to drive improvements to Asset and Liability Matching capabilities used for pricing. Engage key business partners and corporate stakeholders in a large matrix organization. Develop and maintain required capital frameworks: internal economic capital and regulatory capital. Perform capital projection for existing in-force under Retirement. Provide capital synergy generated by diverse Retirement products on a monthly basis. Quantify the economic benefit of new investment and test ALM strategies. Research and develop capital framework for new market. Improve and simplify pricing frameworks of Retirement products. 




Qualifications
@!*!

REQTS:             Must have a Bachelors degree or foreign equivalent in Actuarial Science, Statistics, Mathematics or a related field plus three (3) years of experience in the job offered, as an Associate Actuary, Senior Actuarial Associate or a related position. Must have three (3) years of experience with all of the following: Actuarial present value of single life and joint and survivor annuities; Applying life contingencies to present value calculations and annuity values; Applying mortality improvements to life contingencies decrement rates to calculate present values; Producing liabilities for pension benefit plans; Applying knowledge of insurance financial concepts and applications, GAAP and Statutory standards; Performing long-term projections of financial statements; Projecting capital requirements of new business sales; Performing experience studies to generate mortality and marital assumption used in pension scheme liability valuation; Performing regression analysis and applying results to predictive models; Utilizing Microsoft Excel-VBA programming skills; Explaining analysis to a non-actuarial audience; Pension Risk Transfer and Longevity Reinsurance products.

HOURS:            Full time; Mon- Fri (37.5 hours/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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Jobs Rated Reports for Actuary

Posted: 2020-03-06 Expires: 2020-04-06

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Associate Actuary - RET000JC

Prudential
Newark, NJ

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