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Director, Actuary

Prudential


Location:
Newark, NJ
Date:
09/22/2017
2017-09-222017-10-21
Job Code:
428118
Prudential
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Job Details

Position Title: Director, Actuary
Job Code: 428118
Job Location: New Jersey-Newark
Description:
TITLE:            Director, Actuary (The Prudential Insurance Company of America – Newark, NJ)
 
DUTIES:         Ensure that Prudential has a comprehensive framework for understanding the risks embedded in and across its businesses, in order to manage risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value. As part of the new Actuarial Model Risk Management team, responsible for ensuring that Prudential is capable of accurately identifying, measuring, reporting, monitoring and managing the Company’s model risks. Responsible for independent model validation, testing of actuarial models and asset modeling including modeling securitized assets, mortgages, and corporate bonds. Monitoring model control standards, performing risk assessments, risk mitigation and remediation in partnership with the Investment, Finance and Risk Model Risk Management team and the Model Risk Control Office. Work both independently and collaboratively as part of a team with significant dependence on relationships with internal audit, corporate actuarial, business unit actuaries, the treasurer’s group, portfolio managers, finance, investment operations and analytical software vendors. Support plans and activities related to modeling systems and model risk activities across the Company to ensure consistency and transparency of modeling direction, vision, strategy, and appropriate governance controls. Support independent periodic model validation and testing of investment, finance and risk models, including review, effective challenge, and written documentation, including assessment of conceptual soundness, model performance and outcomes analysis, and appropriateness of model assumptions, data sources, mathematical formulas and business applications as well as communication of key model weaknesses and data limitations (e.g., inherent model imprecision). Support the building of models and analytical tools to support the activities of the Model Risk Management group, involving the development of the models and tools as well as the analyzing of output. Prepare regular model risk status reports and reporting key observations and compliance/non-compliance with the model governance policy to Model Risk Oversight Committee, including ensuring that emerging risks are identified and appropriately addressed.

REQTS:          Bachelor’s degree or foreign equivalent in Actuarial Science, Accounting, Mathematics, Business Administration, or a related analytical field plus five (5) years of progressively responsible experience in the job offered, or as a Senior Consultant, Investment Analyst, Pricing Analyst, or a related position. Must have five (5) years of progressively responsible experience with: Using Excel spreadsheets and high level programming languages including VBA, C or other actuarial related software programming languages; and Developing and maintaining databases, and data extraction for reporting. Must have three (3) years of experience with: Developing actuarial modeling and using actuarial software including ALFA or GGY-AXIS; Performing economic, U.S GAAP, and Statutory Financial Reporting; Designing, programming and implementing Asset Liability Management (ALM) model; and Asset modeling including modeling securitized assets, mortgages, and corporate bonds. Must have attained the Society of Actuaries ASA (Associate of the Society of Actuaries) designation.

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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