Associate Actuary

Job Classification:

Actuarial - Actuarial

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 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

The primary responsibility of the ILI Assumptions Team is the development of assumptions used for a variety of critical business purposes including: the pricing of new products, GAAP and STAT financial reporting including Principle Based Reserving (PBR), forecasting, Economic Capital, Asset Adequacy Testing (AAT), dividends, as well as support of other regulatory and reporting requirements. In addition, the group performs analyses to support special projects and to contribute to the full understanding of financial results. Members of the group regularly interact with individuals from a broad array of functional areas within and outside of ILI, as well as other business units. Additionally, the group is offered exposure to a broad spectrum of life insurance business issues that are discussed weekly in an executive setting called the Assumptions Review Committee (ARC). Here, assumptions are discussed for endorsement by a group of senior leaders within ILI.

What to expect:
• Development and review of policyholder behavior assumptions (examples include: lapse, surrender, premium payment behavior) related to the broad array of ILI products
• Presentation of assumptions for management approval at Assumptions Review Committee
• Partnering with the data analytics team to support experience data needs
• Utilizing technology (e.g. Power BI/Tableau, Python, SQL) to streamline current processes and to create tools for more frequent monitoring of experience data
• Providing management with actionable business insights based on experience data analysis
• Authorship or review of documentation pertaining to the development of assumptions for governance and regulatory purposes
• Investigation of new approaches to assumption development including: use of dynamic modeling, predictive analytics, and confidence interval approaches
• Compliance with all internal and external control requirements
• Support of other ILI assumptions related work as needed
• Significant collaboration with Finance and Actuarial areas such as Pricing, Valuation, and Modeling
• Managing a shared offshore resource

What you’ll need:

· B.A. / B.S. required - preferably in mathematics, statistics, business, finance, or related field

· Excellent analytical and problem-solving skills

· Strong oral and writing communication skills

· Strong Microsoft Excel and Word skills

· Strong attention to detail and organizational skills

· Self-motivated and flexible

· Demonstrated interpersonal and partnering skills

Strongest consideration will be given to candidates who possess the core qualifications and who have some of the following qualifications:

· Software/Coding Knowledge: Microsoft Access, VBA, Microsoft Power BI, SQL, Python, etc.

· Knowledge of Life Insurance Experience Studies and Assumption Development

· Experience with Polysystems, LifeMeasure, and ULMeasure

At Prudential, you can:

Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward.

We’re a global organization, full of outstandingly dedicated people who aren’t afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose

What we offer you:Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $118,700.00 to $176,600.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

• Market competitive base salaries, with a yearly bonus potential at every level.