Actuarial Associate at Prudential Ins Co of America in Newark, New Jersey

Job Description:

Job Classification:

Actuarial - Actuarial

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading financial services institutions!

                                                 

Prudential’s Business Support, Strategy, and Stress Testing group (part of Finance and Actuarial Community) is responsible for analyzing business and financial data to drive decision making and support key business initiatives for both Institutional (i.e. Pension Risk Transfer, International Reinsurance, Structured Settlement, Stable Value) and Individual (i.e. Variable Annuities, Fixed Annuities) Retirement Strategies. We’re looking for driven, intellectually curious individuals with technical aptitude to quickly grasp business and actuarial concepts and be able to make contributions in a short timeframe.

This role will be primarily focused on the validation and review of collateral needs related to the IR Longevity Risk Transfer and Funded Re businesses. This includes BAU validation of required reinsurance collateral amounts, driver-based analysis of changes in excess collateral, periodic reviews/updates of the Mortality Basis underlying the collateral calculation, as well as the production of management reporting related to these items. In addition, this role may support Finance related deliverables and business initiatives, as needed.

This opportunity will allow you to get exposure to a large, highly visible businesses. It will provide an opportunity to obtain strong knowledge and understanding of market dynamics including financial drivers of a growing business within Retirement Strategies. It is a great opportunity for exposure to leadership in Retirement FAC as well as business leaders within International Reinsurance.

The current employee work arrangement for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site. Job Locations – Fort Wash, PA and Newark, NJ

What you can expect:

Specific responsibilities for the day-to-day operations include but are not limited to the following:

• Be able to pick up the basics on collateral validation for IR Longevity Risk Transfer and Funded Re businesses.


• Maintain and update Python codes for collateral as needed.


• Perform collateral validation with high quality and take the ownership of collateral validation for certain clients.


• Assist in annual Mortality Basis Reviews


• Assist with IRT business deliverables and management reporting, spanning both finance and actuarial responsibilities as appropriate.


• Support ad-hoc requests on IR Collateral and Finance as needed.

What you’ll need:

• Bachelor’s degree in actuarial or other quantitative related fields are preferred.


• Technical skills with programming experience in Python or other languages are preferred.


• Proven ability to be proactive, work independently and with a team.


• Strong problem solving, time management and organizational skills.


• Effective oral and written communication and interpersonal skills to navigate and resolve issues.


• Ability to quickly adapt to new technologies.


• Experience working with Oracle Financial Applications, PowerBI, Microsoft Office suites are a plus.


• 1-2 exams actuarial exams passed and desire to pursue ASA/FSA designations is preferred.


• We support the SOA actuarial exam progression with paid time off to study and exam costs.

Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

At Prudential, you can:

Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward.

We’re a global organization, full of outstandingly dedicated people who aren’t afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose.

What we offer you:

• Market competitive base salaries, with a yearly bonus potential at every level


• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave


• Retirement plans:


• 401(k) plan with company match (up to 4%)


• Company-funded pension plan


• 
  Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs


• 
  Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.


• 
  Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.


• 
  Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.

To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $67,500.00 to $100,400.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

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, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

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.

PEOPLE WITH DISABILITIES:

If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.

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