13 days old

Vice President Insurance Risk Management - INS0005E

Newark, NJ
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Primary Location United States-New Jersey-Newark (NJ)
Travel:Yes, 10 % of the Time
!*!The Vice President, Head of Insurance Risk Management, will lead Prudentials Insurance Risk Management function, and be accountable for ensuring an effective insurance risk management discipline across all of Prudentials insurance businesses, globally.


Insurance Risk Management ensures that Prudentials management and Board have a comprehensive understanding of the insurance risks (mortality, longevity, morbidity, and policyholder behavior) embedded in the Companys businesses, and that those risks are actively and effectively managed.


The Vice President, Head of Insurance Risk Management, will report to the Deputy Chief Risk Officer, within the Enterprise Risk Management department.


Responsibilities include:


  • To measure, and lead the management of, the Companys insurance risk, including ensuring effective communication of risks to management and the Board, including through:

    • Efficient, effective enterprise risk reporting, consolidation, and communication
    • Stress definitions and calibration
    • Risk appetite development

    • To ensure Prudential operates within risk appetite and tolerances related to insurance risk
    • To monitor and ensure appropriate discussion of emerging risks, and to identify strategic or tactical insurance risks that may impact our understanding of risk or the financial condition of the Company or Company strategy.
    • To provide insurance risk expertise to support ERMs evaluation of new products, transactions, and M&A

      • Provide insurance risk expertise and partner with other areas of ERM and business units to identify, assess, monitor and manage insurance risks for all material developments across the enterprise.

    • To support business unit, enterprise and ERM projects related to insurance risk management
    • To support Prudentials understanding of regulatory developments, including the impact of changing global capital frameworks, and rating agencies and regulators understanding of insurance risk
    • To develop and implement risk mitigation solutions, as appropriate
    • To ensure appropriate controls and governance over Insurance Risk at Prudential. Chair the Insurance Risk Oversight Committee

    • To oversee the review of all pricing, valuation and stress testing model assumptions

    • To effectively lead a diverse and talented multi-level team



      • Extensive understanding of and experience with a broad range of life insurance, retirement and annuity products
      • Deep understanding of mortality, longevity, morbidity, and policyholder behavior assumptions and risk
      • Ability to question and challenge the status quo, and to drive efforts to address weaknesses and take advantage of opportunities
      • Strong interpersonal skills, including a demonstrated ability to collaborate with and influence business partners at all levels
      • Strong analytical capabilities, with ability to apply analytical/critical thinking background to new situations
      • Good communicator of complex issues to senior internal and external stakeholders
      • A strategic, creative, organized and broadly focused thinker with a high degree of initiative, curiosity, and ownership of results
      • Ability to manage multiple initiatives and competing priorities, and drive projects to completion in a fast-paced, dynamic environment
      • Ability to develop and effectively lead a high-performing team
      • Fellow of the Society of Actuaries designation (FSA) with 15 years of actuarial experience
      • Experience managing a financial reporting process would be an advantage
      • Experience with economic capital, embedded value or value at risk would be an advantage


      @!*!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

      Posted: 2020-03-25 Expires: 2020-04-24
      Sponsored by:
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      Vice President Insurance Risk Management - INS0005E

      Newark, NJ

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