Job Code: 397718
Job Location: New Jersey-Newark
TITLE: Associate Actuary - (The Prudential Insurance Company of America – Newark, NJ)
DUTIES: Act as a subject matter expert on Variable Annuity (VA) Hedging liability valuation methodology and the company's Hedging Valuation model (Daily Pro). Validate Daily Pro model logic changes by testing sample policies. Validate population change by Inforce Validating Tool. Leverage comprehensive understanding of the GAAP Fair Value valuation concept. Review month-end and quarter-end FAS133 and FAS157 results. Analyze economic liability (Hedge Target) and GAAP (FAS133 and FAS157) liability value for company's Variable Annuities Living benefit riders. Perform in-depth analysis on changes in Market Conditions (Swap rates, realized volatilities, and Implied Volatilities) and Non-Performance Risk curve. Perform in-depth analysis on change in Hedging Liability Greeks. Use the company's web-based application to prepare financial reporting results. Prepare and host Hedging valuation month-end review meetings. Effectively communicate the results to management, Chief Actuary, Controller and Finance.
REQTS: Must have Bachelor’s degree or foreign equivalent in Actuarial Science, Statistics, Mathematics, Economics, or a related field plus three (3) years of experience in the job offered or as an Associate Manager, Actuarial; Intern; or a related position. Must have three (3) years of experience with: predictive modeling using SAS; statistical analysis; and statistical packages including SPSS, R, and Minitab. Must also have one (1) year of experience with: Variable Annuities; FAS133 and FAS157; actuarial software including MG-Hedge and AXIS modeling software; actuarial valuation and financial reporting; and programming languages including SQL.
APPLY: Apply by clicking “Apply” below and following instructions to submit resume.
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, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at email@example.com for more information about doing business with Prudential.
Job Function: Actuarial