Associate Actuary, Financial Modeling - International Insurance

As one of the world’s largest financial services companies, Prudential’s individual and institutional customers rely on us to protect and grow their financial well being.

PII is creating a new unit focused on model risk in the Actuarial Infrastructure / Regulatory Initiatives Team within the Actuarial department in Newark, New Jersey. The unit will focus on implementing the new enterprise model risk management framework and enhancing the first line of defense to effectively manage model risk in both PIIs reinsured (domestic US) block of business and in international operations ex-Japan. The position will collaborate with various PII Newark teams (valuation, modeling, risk and etc.), PII local operations, enterprise model risk management group, and corporate actuarial modeling governance team.

• Learn the new and changing model risk framework in depth, and interpret the framework to be adopted strategically in PII actuarial
• Perform reviews of valuation, capital and pricing models
• Support model owners/developers/testers in registering models, preparing model documentation and facilitating model control
• Present PII actuarial in various enterprise model risk related meetings and calls
• Educate various teams on emerging model risk framework and guildeline
• Facilitate a consistent and enhanced strategy for meeting new model risk standards in PII actuarial teams both in Newark and in local operations
• Work on special projects

• Strong quantitative and analytics skills
• Strong actuarial modeling experience with actuarial software (such as Prophet, Polysystems)
• 2 to 3 years of actuarial modeling experience desired
• Creative problem solver with focus
• Excellent written and verbal communication skills, in particular documentation
• Broad understanding and relevant experience with US GAAP in Life and /or Annuity products
• Strong project management skills
• Programming experience, preferably in C type language, is a plus
• ASA or CFA is a plus