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Director, Actuary (International Insurance)

Prudential


Location:
Newark, NJ
Date:
04/20/2018
2018-04-202018-05-19
Job Code:
455318
Prudential
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Job Details

Position Title: Director, Actuary (International Insurance)
Job Code: 455318
Job Location: New Jersey-Newark
Description:

 

For more than 140 years, Prudential Financial Inc. has helped individual and institutional customers grow and protect their wealth. Today, we are one of the world's largest financial services institutions with operations in the United States, Asia, Europe, and Latin America. We also have one of the most recognized and trusted brand symbols: The Rock®, an icon of strength, stability, expertise, and innovation.

Prudential International Insurance (PII) continues to be one of Prudential's fastest growing and most profitable business groups. PII has operations in eleven countries around the world (Japan, South Korea, Taiwan, Malaysia, India, Chile, Brazil, Argentina, Mexico, Italy, and Ghana).  Eight local operations under PFI are implementing IFRS 17 insurance contract from 2021 to 2025. PII is looking to fill a new Director position in the Actuarial department in Newark, New Jersey.
The Director, Actuary position is responsible for taking lead or support roles in various IFRS 17 implementation related projects around the globe, with a focus on Prophet modeling, IFRS 17 methodology and various balance sheet, income statement and product financial impact analyses, and implementation support and testing. This role will also support various special projects, is highly visible and strategic, and plays a key role in PII Actuarial by partnering with the local operations, various enterprise and domestic counterparties. This position will report to the team lead of Risk, Capital and IFRS unit.  Position can be based in Newark, NJ or Fort Washington, PA.

Primary responsibilities include
  • Lead or support building a globally repeatable process, analytics and tools for various IFRS 17 prototype analyses such as IFRS 17 methodology testing, balance sheet and income statement impact analysis, product and profitability analysis
  • Support international operations on methodology training and interpretation, IFRS 17 analysis utilizing the globally standard package and models, and support other infrastructure build initiatives
  • Lead or support the Prophet ALM and IFRS 17 implementation for various PII jurisdictions such as Korea, Malaysia, and Brazil, etc.
  • Act as the subject matter experts within PII for emerging new regulation regimes or market consistent framework such as IFRS 17, IAIS ICS and Solvency II like local regulatory capital and MCEV
  • Act as the subject matter experts within PII for the Prophet suite of software which includes Prophet Professional, Prophet Enterprise, various liability and ALS library
  • Collaborate and communicate regularly with other teams such as Pricing, Assumption, Corporate Actuarial, Finance, Portfolio Management, and ERM
  • Lead or support local operations in implementations of internal corporate frameworks, such as RAC capital, liquidity framework, etc.
  • Provide actuarial analysis to support various M&A initiatives
 

  • A minimum of 5 years of actuarial modeling experience in valuation and projection in an open coding system
  • Broad experience in Prophet is highly preferred; Prophet ALM modeling experience in ALS library is highly desired but not required
  • Strong financial and financial modeling knowledge and experience
  • Strong quantitative and analytics skills, including the ability to understand concepts and assess situations in a timely manner
  • Knowledge of economic and risk based solvency regimes (e.g. Solvency II and IAIS ICS) and the latest developments in accounting principles e.g. IFRS 17 and US GAAP targeted improvement is a distinct advantage
  • Strong project management and execution skills
  • Broad understanding and relevant experience with Life and/or Annuity products
  • ASA or FSA with 5 years of actuarial experience is required, CFA a plus
  • International experience is a plus
  • Minimal travel may be required (< 25% of time)

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 staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Actuarial
Schedule: Full-time
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