Actuarial Associate

Job Classification:

Actuarial - Actuarial

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

This individual will be focused on data management for in-force transactions and participate in live non-US, Reinsurance transactions with a focus on process improvement and automation. In particular, they will work with counterparties and internal stakeholders to ensure data accuracy for in-force transactions and work to improve tools and systems used in live transactions. The successful candidate will support the team’s efforts to achieve aggressive business growth while maintaining an appropriately controlled operating environment.

Position responsibilities include:
• Analyze client data files and models for purposes of constructing and reviewing a reinsurance transaction benefits model
• Work with counterparty actuaries to reconcile pension benefit and cash flow modeling
• Review legal document language and summary plan descriptions for in-force transactions relating to the benefit characteristics to ensure accuracy of administration
• Work with counterparty actuaries to reconcile lump sum calculations and annual adjustments for in-force policies
• Work with internal actuaries to facilitate data updates for reserves and collateral management
• Create, maintain and streamline actuarial tools used for in-force management and live transaction analysis
• Participate in general business transaction support activities

Qualifications
• Bachelor’s degree preferably in actuarial science or related field
• Excellent analytical and math skills
• Desire to pursue ASA/FSA designations is preferred but not required.
• Experience with pension industry is preferred but not required.
• Strong technical skills (Microsoft Excel and PowerPoint) and ability to understand complex quantitative concepts and models. Strongly preferred knowledge of VBA.
• Good communication skills, particularly in presenting technical results to non-technical audiences.
• Ability to work independently with excellent project management skills and ability to juggle multiple urgent priorities.
• Creative problem-solver, particularly in areas with very little clarity or precedence.
• Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
• Fast learner with ability to collaborate with multiple teams on complex transactions.

• Open to remote/virtual location outside of commutable Newark, NJ location.

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 $63,400.00 to $94,400.00. 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 [email protected] 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 [email protected].

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 [email protected] to request assistance.