Director, Actuary (Virtual)

Job Classification:

Actuarial - Actuarial

Director, Actuary-Retirement Strategies Actuarial Team, Pricing Methodology and Frameworks

This position will be in the Methodology team within the Retirement Strategies Actuarial group. This unique role will be responsible for leading a small team that develops, implements, and maintains robust methodology frameworks for pricing models, creates innovative solutions to support various annuity and retirement products pricing initiatives, and works in the frontline to solve complicated problems with various stakeholders. The candidate will focus on R&D work, leading technical aspects of new product launches, evolving pricing strategies and transformative initiatives, and will also directly engage with the business and influence business outcomes by managing relationships with our business partners. Recent projects included: analyzing and quantifying capital diversification benefits for Annuities flagship indexed annuity (RILA) products, leading the development and testing of asset / liability management pricing frameworks and models, enhancing predictive mortality curve models, and conducting research for a variety of pricing / risk initiatives such as dynamic policyholder behaviors and renewal strategies.

The individual will work closely with other Retirement Strategies teams including Pricing, New Initiatives, and Modeling teams and will also interact with other functions, which may include CIO, Valuation, Capital Management and ERM. This position requires a curious, creative individual with strong leadership, analytical, conceptual thinking and quantitative modeling skills who can lead a team through a wide range of projects in a dynamic environment.

Primary Responsibilities:

-Lead the development, testing, and implementation of the in-house asset liability management (ALM) framework and model capabilities in MATLAB, and design and implement new methodologies in pricing models

-Brainstorm ideas and build methodology prototypes to help address complex problems stemming from new product launches, new pricing strategies, enterprise framework and/or regulatory framework changes

-Lead the development of sound methodologies with attention to their practical business applications through strong execution, in support of critical Retirement Strategies and enterprise initiatives

-Proactively drive methodology refinements and technology advancements to generate enhanced modeling capabilities by conducting innovative research

• Collaborate with the Modeling, Pricing / Rate Setting, and New Initiatives teams to ensure methodology refinements and pricing framework changes are well understood and incorporated properly

-Lead modeling and risk analysis to support sound product and risk decision-making, and connect with other business partners to create robust solutions to complex business challenges

Qualifications

· 5+ years of actuarial experience or equivalent experience in a similar quantitative financial field

· FSA designation preferred; advanced degrees in mathematics, statistics, economics, or a related quantitative field are a plus

· Strong experience with / deep technical knowledge of annuity and/or retirement product pricing, modeling tools, methodologies, and processes are desirable

· Exceptional quantitative modeling and analytical skills; strong understanding of financial instruments and asset liability management preferred

· Highly motivated individual who can work collaboratively with business partners and manage a small team

· Excellent verbal and written communication skills; demonstrated ability to explain technical concepts to non-technical audiences, especially at senior levels of the organization

· Programming skills e.g., in VBA, MATLAB and/or Python is a big plus

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 $156,100.00 to $211,100.00. 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.

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