Associate Actuary, Retirement Strategies Finance and Actuarial Pricing (Hybrid)

Prudential Financial • Newark, NJ

38d • $114,500 - $188,900 • Hybrid

About The Position

The Associate Actuary, Retirement Strategies Finance and Actuarial Pricing role on the US Funded Pension Risk Transfer Pricing team, is a position that plays a key role in the overall pricing execution and infrastructure development of Prudential’s PRT Business. The current employee work arrangement for this position is hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site. Collaborate with highly motivated and talented quantitative professionals to develop creative solutions and help achieve aggressive business growth goals. Lead financial modeling and pricing execution for US Funded PRT transactions. Identify and execute planned process improvements and transformation initiatives by using Python, VBA, SQL and other emerging technology to automate and standardize processes. Partner with Modeling and Assumptions teams to test enhancements to actuarial models used for cash flow production, mortality and policyholder behavior underwriting, Statutory/GAAP reserve, and ALM projections. Analyze population and pension plan specific experience data to determine mortality and other demographic assumptions used in PRT transactions Provide timely, accurate and insightful pricing analytics to facilitate confident decision-making and to achieve business goals. Collaborate with business and corporate leaders to determine and implement optimal pricing strategies that balance competitiveness and profitability while ensuring compliance with Enterprise Pricing Standards. Support internal efforts to secure necessary approvals from Retirement Strategies leaders and other governing bodies across Prudential Enterprise. Implement efficient and robust pricing processes and ensure compliance with Model Risk Policies and End User Controls. Be an active participant in Prudential’s actuarial community.

Requirements

• College Degree (BA / BS) required.
• ASA with 4+ years of strong actuarial experience (product development, pricing, valuation, GAAP/Stat reporting, financial modeling, asset-adequacy testing, asset/investment/hedging/risk modeling, etc).
• Superior technical skills and ability to understand complex quantitative concepts and models.
• Strong communication skills, particularly in presenting results to senior executives.
• Strong project management skills and ability to juggle multiple urgent priorities.
• Creative problem-solver, particularly in areas with very little clarity or precedence.
• Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
• Fast learner and ability to work in a multi-functional team environment.

Nice To Haves

• Degree in Actuarial Science, mathematics, finance, computer science or other quantitative related fields.
• Experience with private US pension plans and/or Enrolled Actuarial designation.
• Working knowledge of VBA, Python strongly preferred.
• Knowledge of other coding languages.
• Investment or ALM experience.
• Other risk/investment professional designations such as CFA, CERA, PRM, FRM or advanced degrees.

Responsibilities

• Lead financial modeling and pricing execution for US Funded PRT transactions.
• Identify and execute planned process improvements and transformation initiatives by using Python, VBA, SQL and other emerging technology to automate and standardize processes.
• Partner with Modeling and Assumptions teams to test enhancements to actuarial models used for cash flow production, mortality and policyholder behavior underwriting, Statutory/GAAP reserve, and ALM projections.
• Analyze population and pension plan specific experience data to determine mortality and other demographic assumptions used in PRT transactions.
• Provide timely, accurate and insightful pricing analytics to facilitate confident decision-making and to achieve business goals.
• Collaborate with business and corporate leaders to determine and implement optimal pricing strategies that balance competitiveness and profitability while ensuring compliance with Enterprise Pricing Standards.
• Support internal efforts to secure necessary approvals from Retirement Strategies leaders and other governing bodies across Prudential Enterprise.
• Implement efficient and robust pricing processes and ensure compliance with Model Risk Policies and End User Controls.
• Be an active participant in Prudential’s actuarial community.

Benefits

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree