Vice President & Actuary
Job Code: 393618
Job Location: New Jersey-Newark
The executive will report to ILI Chief Actuary as a core member of the leadership team. This executive will lead the Individual Life Pricing and Product Management and Reinsurance Negotiations teams, which are located in both Newark, NJ and Hartford, CT. The Pricing and Product Management team owns the product pricing, development, and product management functions for new and in force Individual Life Insurance products. The Reinsurance Negotiations team manages the relationships with third-party reinsurers and negotiates treaties for both internal and external arrangements, including capital-focused arrangements. This is a highly visible role and this individual will be charged with collaborating and influencing across multiple stakeholder groups including various senior management teams.
The incumbent must have strong technical skills and a depth/breadth of knowledge to quickly crystallize and resolve complex business and actuarial issues and contribute to the creation of innovative product solutions. He/she must also be able to explain technical material to non-technical audiences Excellent interpersonal skills and the ability to influence and motivate others are critical to successfully build strong relationships with Business Partners (Product Development, Marketing and Distribution) and corporate functions (Finance, Investments). All of this will be accomplished within the risk controls established for the Individual Life line of business.
Specifically, this executive will manage a team with these responsibilities:
- Provide actuarial and financial perspective to help shape the direction of future product innovation.
- Provide pricing and actuarial analyses to understand product risks and financial profiles of new and existing business; communicate results and analysis to ensure full understanding of financial drivers.
- Develop and implement a reinsurance strategy to efficiently use capital, mitigate risk, and manage mortality costs.
- Obtain management approval to move forward with product offerings as appropriate.
- Ensure integrity of the tools used for pricing by implementing appropriate controls; develop and enhance pricing process and modeling capabilities.
- Manage a team of professionals in a results-oriented, creative, and high energy environment, with a heavy emphasis on strong teamwork, partnerships, and talent development.
- Proven track record of being a strategic thinker, creative, innovative, and execution focused turning ideas into measurable meaningful results.
- Extensive experience and success in developing a vision, building relationships and influencing executive level leadership as well as securing broad organizational support.
- Must have executive level communication and presentation skills as well as presence; ability to influence senior management.
- Strong leadership skills, including: focuses externally, takes intelligent risks, and transforms strategy into action.
- Open minded, innovative, and strategic thinker.
- Ability to convey sense of urgency and to work productively with internal and corporate business partners (Product management, legal, finance, tax, treasurers, etc.)
- Highly motivated and creative problem solver; able to thrive in a fast-based, results-oriented environment.
- Collaborative and team-oriented leadership style.
- Fellow of the Society of Actuaries (FSA) with 15 years experience required.
- Pricing experience helpful, but not required.
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 firstname.lastname@example.org for more information about doing business with Prudential.
Job Function: Insurance