Associate Manager, Actuarial

Prudential Financial • Hartford, CT

9d • $89,000 - $147,000 • Hybrid

About The Position

The Annuity Calculation Management team has an available opportunity for an associate manager, actuarial to join. The Annuity Calculation Management team is responsible for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. Ensuring actuarial & product integrity of in-force block of business through all lifecycles of the 300+ products in force. The associate manager will be recognized within the organization as a product and calculation expert. The Annuity Calculation Management Team performs multiple functions within their area. These functions are broken down between the Methodology function, Tool Delivery function, Operations function, and Product Regulatory function. The Methodology function is responsible for defining and documenting calculation methodology for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. The Tool Delivery function is responsible for building, modifying, and maintaining calculation tools to support all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. The Operations function is responsible for ongoing management, operational support and all technical aspects of the current annuity product portfolio. The Product Regulatory function is responsible for ensuring that contract forms and regulatory processes satisfy actuarial regulatory and product specification requirements. The associate manager will mainly be part of the Operations function. 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. What you can expect: Provide on-going actuarial knowledge and creative problem resolution within Product and to business partners across the organization. Partner with cross-functional actuarial representatives and annuities cross-functional business partners (including product and control functions) to ensure thorough understanding and peer review of calculation in support of all regulations and processes. Demonstrate product/rider and technical expertise across all Prudential Annuity products. Manage and drive understanding of in-force products through a centralized mailbox. Clearly communicate technical calculations and complex methodologies via oral and written methods. Create detailed calculation mechanics, assumptions, and methodologies for new product development, changes to existing products, and in-force product escalations. Create, enhance, or peer review actuarial tools, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality. Manage and provide subject matter expertise on complex algorithms. Manage and maintain the team’s tool inventory. Maintain controls on new and modified tools in accordance with established controls. Prepare user guides and training for users such as the Technology and Service teams. Prepare SOPs for ongoing maintenance of the tools. Sign off on test strategy for new product development, changes to existing products, or illustration and admin systems. Review test results and resolve any testing fallout for administrative and illustration updates. Support internal audits and other oversight activities to reinforce the usage of sound processes and a control consciousness. Validate in-force business with business-as-usual testing to maintain product integrity and compliance with established standards Review and clearly communicate necessary updates for all contract forms and prospectus information, if applicable, to determine readability and consistency with product specifications. Consistent focus on streamlining and enhancing existing processes and tools. Develop and execute opportunities to replace manual administrative calculation tools with automated processes and/or expanded administrative system functionality. Oversee ongoing support of our immediate annuity products.

Requirements

• Bachelor’s Degree
• 3+ years of experience in financial services, product support, or product management, including Annuity Illustrations experience preferred
• Strong technical skills in Microsoft Excel including VBA, Power Query and/or other programming.
• Familiarity with emerging AI technologies and their application in actuarial or financial services environments to improve efficiency.
• Strong communication skills with the ability to translate technical calculations into clear, understandable language for diverse audiences both verbally and in writing using tools such as PowerPoint, Excel, Outlook, and other collaboration platforms.
• Self-motivated, proactive, and able to think beyond functional responsibilities to align with broader business strategy.
• Highly organized with the ability to manage multiple, diverse projects and adapt to changing priorities while delivering creative solutions.
• Demonstrate a strong attention to detail, follow-through, and ability to work independently and as part of a team.

Nice To Haves

• Previous actuarial experience
• Progress towards ASA (for example, having passed 2-3 exams).
• Proficiency in data management and database tools.

Responsibilities

• Provide on-going actuarial knowledge and creative problem resolution within Product and to business partners across the organization.
• Partner with cross-functional actuarial representatives and annuities cross-functional business partners (including product and control functions) to ensure thorough understanding and peer review of calculation in support of all regulations and processes.
• Demonstrate product/rider and technical expertise across all Prudential Annuity products.
• Manage and drive understanding of in-force products through a centralized mailbox.
• Clearly communicate technical calculations and complex methodologies via oral and written methods.
• Create detailed calculation mechanics, assumptions, and methodologies for new product development, changes to existing products, and in-force product escalations.
• Create, enhance, or peer review actuarial tools, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality.
• Manage and provide subject matter expertise on complex algorithms.
• Manage and maintain the team’s tool inventory.
• Maintain controls on new and modified tools in accordance with established controls.
• Prepare user guides and training for users such as the Technology and Service teams.
• Prepare SOPs for ongoing maintenance of the tools.
• Sign off on test strategy for new product development, changes to existing products, or illustration and admin systems.
• Review test results and resolve any testing fallout for administrative and illustration updates.
• Support internal audits and other oversight activities to reinforce the usage of sound processes and a control consciousness.
• Validate in-force business with business-as-usual testing to maintain product integrity and compliance with established standards
• Review and clearly communicate necessary updates for all contract forms and prospectus information, if applicable, to determine readability and consistency with product specifications.
• Consistent focus on streamlining and enhancing existing processes and tools.
• Develop and execute opportunities to replace manual administrative calculation tools with automated processes and/or expanded administrative system functionality.
• Oversee ongoing support of our immediate annuity products.

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