Job Industry: Insurance

Job Type: Full time

WorkPlace Type: On-Site

Location: Newark, NJ, United States

Required Candidates: 1 Candidates

Job Description:

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 EWA 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:

Retirement Strategies Capabilities

The Associate Actuary will act as a point of contact for actuarial and general transaction activities in support of Prudential's International Reinsurance efforts, which is the international component of Prudential’s rapidly growing Pension Risk Transfer business.

This individual will be actively engaged in live non-US Reinsurance transactions supporting (i) the Business team’s preparation for discussions with market intermediaries and counterparties on live transaction opportunities, (ii) the Pricing team overseeing all aspects of benefits modeling and validation of pricing results and (iii) the Administration and Collateral teams overseeing actuarial aspects of inforce business administration.

The successful candidate will support the team’s efforts to achieve aggressive business growth while maintaining an appropriately controlled operating environment. She/he should be able to manage multiple projects concurrently and be able to effectively interact and communicate with members of internal and external teams that have very diverse backgrounds

What you’ll need: Qualifications:
 

• Bachelors Degree
• Minimum 5 years of work experience in Retirement and/ or Insurance, preferably in an actuarial capacity
• ASA designation desired
• Experience with pension plans a significant plus
• Demonstrate significant analytical skills
• Strong communication skills and ability to articulate technical actuarial concepts to non-actuarial audiences
• Capacity to work independently with excellent project management skills; capable of juggling multiple urgent priorities.
• Fast learner that can work independently and also collaborate with multiple teams on complex transactions
• Proval knowledge desired
• Strong Microsoft Excel and Power Point skills
   

Primary Responsibilities:
 

• Review client Request For Quotations (RFQ) documents alongside the transaction lead and ensure that the Business, Underwriting, Pricing and Administration teams interpret these documents correctly and consistently. Identify new or unusual risks as well as specific benefit and transaction features that present pricing, onboarding or implementation challenges.
• Oversee and review the transformation of raw benefits data into a valuation census that can be used by the Pricing team to underwrite longevity risk.
• Construct reinsurance transaction models to support the pricing function. Reconcile pension benefit modeling with other counterparties. Review pricing deliverables for internal and external consistency.
• Oversee annual reconciliations of lump sum payments, premium and collateral vectors provided by counterparty actuaries on inforce business.
• Actively engage as a member of the transaction team from initial evaluation and quotation, through the on-boarding process. Participate in calls leading discussions on actuarial related matters with insurance counterparties.
• Provide review of Term Sheets and draft/review legal document language relating to the benefits and/or actuarial topics (such as lump sum provisions, mortality basis review processes, collateral mechanics, etc.)
   

Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

At Prudential, you can:

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 including 1:1 Career advice, 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:
 

• 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
• Retirement plans:
• 401(k) plan with company match (up to 4%)
• Company-funded pension plan
• Wellness Programs to help you achieve your wellbeing goals, 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.
• Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
• 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.
   

To find out more about our Total Reward package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

Note: 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 $115,800.00 to $172,300.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. 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. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:

If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.

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