Job Classification:

Actuarial - Actuarial

The Senior Actuarial Associate will act as a point of contact for actuarial and general transaction activities in support of Prudential’s International Reinsurance (IR) efforts, which is the international component of Prudential’s rapidly growing Pension Risk Transfer business.

What you can expect:

This individual will be actively engaged in live non-U.S. Reinsurance transactions supporting the Transaction Lead. In particular, they will aid the business team’s preparation for discussions with market intermediaries and counterparties on certain live transaction opportunities focusing on benefits, data, and liability modeling, and will also participate in transaction closing and on-boarding activities. The successful candidate will support the team’s efforts to achieve aggressive business growth while maintaining an appropriately controlled operating environment.

• Provide an analysis and concise summary of pension plan provisions and proposed benefit structure as part of the presales process, identifying any new or unusual risks as well as specific benefit and transaction features that present pricing, onboarding or implementation challenges
• Review client Request for Quotations (RFQ) documents alongside the transaction lead and ensure that the Business, Underwriting, Pricing and Administration teams interpret these documents correctly and consistently
• Analyze raw data files and run the transaction data query process for purposes of constructing a reinsurance transaction benefits model
• Work with counterparty actuaries to reconcile pension benefit and cash flow modeling
• Work with the Pricing Team to independently replicate Pension and Annuity cash flows using the Best Estimate assumptions along with all reserving and capital scenarios in order to validate the liabilities used in our pricing models
• Review reinsurance Term Sheets and draft/review legal document language relating to the benefit characteristics that underlie our premiums and fees
• Actively engage as a member of the transaction team from initial evaluation and quotation, through the on-boarding process
• Participate in general business transaction support activities.

What you’ll need:

• Bachelor’s degree in actuarial science or related field
• Minimum of 3 years of actuarial or related work experience preferably in retirement and/or insurance.
• Several exams passed and desire to pursue ASA/FSA designations.
• Experience with pension industry is highly preferred but not required.
• Strong technical skills (Microsoft Excel, SQL and PowerPoint) and ability to understand complex quantitative concepts and models.
• Good communication skills, particularly in presenting technical results to senior executives and non-technical audiences.
• Ability to work independently with excellent project management skills and ability to juggle multiple urgent priorities.
• Creative problem-solver, particularly in areas with very little clarity or precedence.
• Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
• Fast learner with ability to collaborate with multiple teams on complex transactions.

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:

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 $97,300.00 to $144,900.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

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