Analyst - ERM Model Risk Management Group (Hybrid)

Job Classification:

Corporate - Risk

The mission of Enterprise Risk Management (ERM) is to ensure that Prudential has a comprehensive framework for understanding the risks embedded in and across its businesses, so that the company can manage these risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value.
 

The Model Risk Management Group (MRMG) is an integral part of the ERM organization; its primary objectives are to effectively manage and mitigate risks arising from use of and reliance on models across the enterprise. MRMG has a unique perspective, with a scope that covers a broad spectrum of model types (e.g., Valuation and Reporting, Product Management, Capital and Risk Management) across all of Prudential’s Business Units. The framework covers traditional models as well as applications of Machine Learning and Artificial Intelligence.

The role’s broad scope will provide the successful candidate an outstanding opportunity to apply their existing skills and expertise, while also being continually exposed to new model types and products. Strong analytical skills and soft skills will be developed and utilized in this role while working closely with others both inside and outside the team.

The Role:

As part of the Model Risk Management team, this role will be focused primarily on independent model reviews and testing of models. The incumbent’s level of experience and subject matter expertise will determine his or her level of involvement relative to the following responsibilities:

• Research relevant regulatory frameworks, underlying products, assumptions, and methodologies

• Review model documentation, evaluate risks and propose review strategies

• Build independent challenger models and other analytical tools as needed

• Perform model output analytics

• Discuss model review findings with model owner and other stakeholders

• Create a model review report to document the independent review

• Be exposed to multiple lines of business and model types: pricing, financial reporting, capital, forecasting, investment, data science and others

• This role located in Newark, NJ is partially virtual/remote.

• Visa sponsorship will be considered for the right candidate.

Qualifications:

The following are required:

• B.S in Quantitative field such as: Financial Engineering, Mathematical Finance, Applied Mathematics, Financial Econometrics, Physics, or other Engineering. Graduate degree is preferred

• 1-2 years of related experience

• Excellent mathematical, analytical problem-solving skills.

• Strong technical skills, with hands-on experience in working environment of programming languages such as: Python, VBA. Experience with C++, C#, Matlab, or any database is also preferred

• Demonstrated knowledge of valuation or pricing of financial instruments such as bond and other financial derivatives, including an understanding of interest rate stochastic modeling.

• Ability to work effectively independently or as a member of a team

• Ability to prioritize multiple tasks

• Strong communication skills, both written and verbal; able to explain complex concepts to non-actuarial business partners

The following are a plus:

• Working experience in financial services industry (bank, insurance company, hedge fund, etc.)

• Understanding of insurance or retirement products

• Experience in model development, implementation and/or validation

• Experience with Artificial Intelligence/Machine Learning modeling techniques

• Skilled with database development, maintenance, and extraction of data for reporting

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 $95,000 to $110,000. 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.

#LI-GR1

#LI-HYBRID

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.