Associate Actuary (Retirement ~ Modeling and Analytic Solutions)
Job Code: 402859
Job Location: New Jersey-Newark
Prudential Retirement is an industry leader in Stable Value, Pension Risk Transfer (PRT), Structured Settlements and Full Service businesses. This is a new position on the Retirement Valuation Modeling Team in support of valuation within Retirement Actuarial. This is an excellent opportunity to integrate actuarial technical skills with soft skills in a single position.
Support long term goal of developing a fully integrated ALM model capable of accommodating multiple uses, including Asset Adequacy Testing and more general inforce management.
Test the implementation of Retirement products in a new software platform, GGY-AXIS. Collaborate closely with the model build team to ensure models are consistent with requirements and reflect key product features.
Work closely with IT business partners to define requirements, test functionality and ultimately facilitate effective implementation of process enhancements.
Continuously develop and enhance existing analytics to improve communication with various business partners.
Partner with multiple parties to refine models as necessary in support of methodology changes as well as broader projects.
Collaborate with other members of the Modeling & Infrastructure Team as well as the Corporate Actuarial Department, Global Portfolio Management Team and model governance area.
Test and validate modeling changes and ensure reasonability of overall model results.
Maintain adherence with appropriate corporate governance, controls, and documentation policies/procedures.
Longer term, individual may support vision to build more automated valuation process.
•Associate of the Society of Actuaries designation (ASA) or near ASA preferred.
•Industry knowledge and experience. Knowledge of Retirement products, pricing, valuation, model governance and asset/liability management is preferred.
•Experience in actuarial modeling systems and programming software such as GGY-AXIS, Prophet, ALFA, PolySystems, C , Matlab and VBA.
•Highly motivated, conceptual thinker who is able to work effectively in a wide variety of assignments.
•Strong quantitative and communication skills to quickly learn and apply complex modeling concepts and be able to communicate to both actuarial and non-actuarial business partners.
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.
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Job Function: Actuarial