Model Risk Associate (Hybrid)

Prudential-posted 4 months ago

$92,400 - $137,400/Yr

Full-time • Entry Level

Hybrid • Newark, NJ

5,001-10,000 employees

Insurance Carriers and Related Activities

Resume

Match Score

Upload and Match ResumeTrack Jobs with Teal

Are you a technical, risk-minded individual? Do you enjoy solving financial problems? We are seeking a Model Risk Associate, to be responsible for independent model reviews and testing of the models. The primary objectives of the Model Risk Management Group (MRMG) within Enterprise Risk are to effectively challenge, manage and mitigate model risks, and maintain model inventory, risk assessment and model control standards. We enable intelligent management decisions to help drive exceptional business, customer, and financial outcomes over the long term.

Research relevant regulatory frameworks, underlying products, assumptions and methodologies.
Review model documentation, evaluate risks and propose review strategies.
Perform modeling analytics and might build independent challenger models and other analytical tools as needed.
Be exposed to multiple lines of business and model types: pricing, financial reporting, capital, forecasting and others.
Partner closely with others, both inside and outside the team.
Help with the monitoring of model control standards, model risk assessments, and model issue remediation in partnership with the Model Risk Control Office.

Bachelor's in a quantitative field such as Financial Engineering, Mathematical Finance, Applied Mathematics, Actuarial Finance, Financial Econometrics, Physics, or other Engineering.
Excellent mathematical and analytical problem-solving skills.
Strong knowledge of valuation for financial derivatives such as options, IR Swap, Swaption, Futures, and general knowledge of Asset Liability Management (ALM) for insurance products.
Strong technical skills, with hands-on experience in programming languages such as Python and VBA.
Experience in the financial services industry (bank, insurance company, hedge fund, etc.).
Strong communication skills, both written and oral, including the ability to communicate complex issues to non-technical persons.
Ability to build strong relationships and collaborate with others.
Teamwork, adaptability, and problem-solving abilities.

2+ years of working experience in Quantitative Finance or Financial Engineering.
A Master's degree in a quantitative field.
Experience in model development, implementation, and/or validation.
Experience with C++, Matlab, or any database.
Knowledge of AI/ML algorithms or experience in developing data science models.

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.

Track Jobs with Teal

Job Search Resources

•

Resume Builder

•

Risk Associate Resume Examples

•

Risk Associate Cover Letter Examples

Model Risk Associate (Hybrid)

Job Search Resources

Tools

Career Hubs

Guides

Company