Director, Actuary (Annuity Calculation Management) (Hybrid)

Prudential Financial • Hartford, CT

12d • Hybrid

About The Position

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading financial services institutions! 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 Director, Actuary has end-to-end accountability for the functions outlined below for the specific new business and operations projects allocated to their team. 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 the in-force block of business. This person is recognized within the organization as a product and calculation expert. This person has demonstrated the ability to collaborate effectively and train associates in different functions. 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: Management, Development and training of a team of 2-4 actuarial professionals. Represent the Annuity Calculation Management team on cross-functional project teams. Coordinate with project leadership to define and manage to target dates for key milestones. Identify any obstacles, escalate, and resolve issues promptly. Review product specifications and calculation methodologies used in new product development, changes to existing products, and in-force product escalations. Provide technical product perspective so the methodologies are in good order to serve as a blueprint to build and deliver tools. Raise any concerns, inconsistencies, or clarifications as needed. Review all contract forms and prospectus information, if available, to determine readability and consistency with product specifications. Oversee the creation of all required actuarial regulatory documents including memorandum, certifications and exhibits as required by state and other regulatory bodies for new product development and in-force product management. Manage activities associated with methodology creation including: Planning and facilitating detailed calculation elicitation sessions. Development of high-level numerical examples as needed. Engagement in creating calculation requirements and all other associated requirements. Proficiency in oral and written communications across technical calculations and complex methodologies. Consistent focus on streamlining and enhancing existing processes and tools to complement testing automation and enhance controls. Leverage AI technology and validate, where applicable, to create efficiencies while maintaining controls. Ensure that calculation tool deliverables and necessary signoffs are completed, including presenting the calculation methodologies to the product, pricing and control groups to secure signoff. Manage and oversee actuarial tools process, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality, which includes troubleshooting and resolving testing fallout. Oversee controls on new and modified tools in accordance with established controls (such as the EUCS policy). Manage illustration and administrative test tool maintenance to be used by Technology to test system changes and periodic updates. Manage and support internal audits, RCSA’s, and other activities to reinforce the usage of sound processes and a control consciousness. Provide on-going actuarial knowledge and creative problem resolution within Product and to business partners across the organization. Demonstrate product/rider and technical expertise across Prudential annuity products. Ensure that calculation and output meet regulatory requirements. Maintain independence of tasks from Methodology to Tool Build to Peer Review.

Requirements

• Bachelor’s Degree.
• 5+ years of experience in financial services product support or product management, including Annuities Illustrations experience.
• Exceptional technical skills in Microsoft Excel including VBA.
• Continuous Improvement, AI, AGILE, or process optimization experience.
• Demonstrated proven ability to lead, develop, and grow talent.
• Excellent verbal and written communication/presentation skills.
• Approach work with intellectual curiosity and transparency with an openness to giving and receiving feedback.
• Self‐motivated, proactive and visionary leadership, thinking beyond functional responsibilities to broader business strategy.
• Highly organized, collaborative, creative, and adept at handling multiple, changing priorities where creative solutioning is required.
• Skilled at resolving conflict and negotiating effectively and tactfully.
• Proven strong attention to detail and follow‐through skills.
• Strength of convictions and ability to influence and champion product changes.

Nice To Haves

• FSA/ASA.
• Experience with Actuarial Regulatory support for contract filings (Actuarial Memos, nonforfeiture demonstrations).
• Microsoft Access experience.

Responsibilities

• Management, Development and training of a team of 2-4 actuarial professionals.
• Represent the Annuity Calculation Management team on cross-functional project teams.
• Coordinate with project leadership to define and manage to target dates for key milestones.
• Identify any obstacles, escalate, and resolve issues promptly.
• Review product specifications and calculation methodologies used in new product development, changes to existing products, and in-force product escalations.
• Provide technical product perspective so the methodologies are in good order to serve as a blueprint to build and deliver tools.
• Raise any concerns, inconsistencies, or clarifications as needed.
• Review all contract forms and prospectus information, if available, to determine readability and consistency with product specifications.
• Oversee the creation of all required actuarial regulatory documents including memorandum, certifications and exhibits as required by state and other regulatory bodies for new product development and in-force product management.
• Manage activities associated with methodology creation including: Planning and facilitating detailed calculation elicitation sessions. Development of high-level numerical examples as needed. Engagement in creating calculation requirements and all other associated requirements.
• Proficiency in oral and written communications across technical calculations and complex methodologies.
• Consistent focus on streamlining and enhancing existing processes and tools to complement testing automation and enhance controls.
• Leverage AI technology and validate, where applicable, to create efficiencies while maintaining controls.
• Ensure that calculation tool deliverables and necessary signoffs are completed, including presenting the calculation methodologies to the product, pricing and control groups to secure signoff.
• Manage and oversee actuarial tools process, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality, which includes troubleshooting and resolving testing fallout.
• Oversee controls on new and modified tools in accordance with established controls (such as the EUCS policy).
• Manage illustration and administrative test tool maintenance to be used by Technology to test system changes and periodic updates.
• Manage and support internal audits, RCSA’s, and other activities to reinforce the usage of sound processes and a control consciousness.
• Provide on-going actuarial knowledge and creative problem resolution within Product and to business partners across the organization.
• Demonstrate product/rider and technical expertise across Prudential annuity products.
• Ensure that calculation and output meet regulatory requirements.
• Maintain independence of tasks from Methodology to Tool Build to Peer Review.

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.

What This Job Offers

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