Associate Actuary

Prudential Financial • Newark, NJ

15h • Hybrid

About The Position

Are you an experienced actuary looking to expand your career? Prudential has an opportunity for an Associate Actuary. This position will be a member of the Individual Life Insurance (ILI) Pricing area within US Business Actuarial team. The associate actuary will work closely with other members of the Pricing team as well as other functions, including Chief Investment Office (CIO), Assumptions, and Valuation & Enterprise Capabilities. The role will be responsible for supporting the pricing, repricing and profitability reporting of ILI products. The current employee work arrangement for this position is hybrid or virtual and may require your on-site presence on a reoccurring basis as determined by your business, dependent on the candidate's location. Your manager will provide additional details relative to the specific number of days you are expected to be on-site. What you can expect: Build dedicated pricing model that caters to pricing specific attributes and promotes nimble and efficient interaction Reduce external processes, standardize modeling practices, and enhance End to End (E2E) process automation Management of a centralized pricing model under a controlled environment Testing of new functionality or updates made to pricing model Quarterly modeling and reporting of the profitability of new business Performance of regulatory testing and preparing materials for state filings Comply with risk and control frameworks, especially around model management Ad-hoc requests

Requirements

• 4+ years of related work experience
• Bachelor's degree required, preferably in Actuarial Science, Mathematics, Statistics, or other highly quantitative field
• Ability to own/drive deliverables, manage time, and collaborate are required
• Ability to independently designed innovative solutions
• Ability to grasp complex concepts and provide insightful analytics
• Excellent oral and written communication skills

Nice To Haves

• Strong experience in AXIS, Python or other programming languages and Power Actuarial exams progress
• Experience with life insurance

Responsibilities

• Build dedicated pricing model that caters to pricing specific attributes and promotes nimble and efficient interaction
• Reduce external processes, standardize modeling practices, and enhance End to End (E2E) process automation
• Management of a centralized pricing model under a controlled environment
• Testing of new functionality or updates made to pricing model
• Quarterly modeling and reporting of the profitability of new business
• Performance of regulatory testing and preparing materials for state filings
• Comply with risk and control frameworks, especially around model management
• Ad-hoc requests

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), after one year of service.
• Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level