Associate Manager

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!

The Annuity Calculation Management Team performs multiple functions within their area. These functions are broken down between the Methodology function, Tool Delivery function, Operations function, and Product Regulatory function. This person will perform at least one of the functions outlined below. The Annuity Calculation Management team is responsible for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. Ensuring actuarial & product integrity of in-force block of business through all lifecycles of the 300+ products in force. This person will be recognized within the organization as a product and calculation expert.

The Methodology function is responsible for defining and documenting calculation methodology for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. The Tool Delivery function is responsible for building, modifying, and maintaining calculation tools to support all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio The Operations function is responsible for ongoing management, operational support and all technical aspects of the current annuity product portfolio. The Product Regulatory function is responsible for ensuring that contract forms and regulatory processes satisfy actuarial regulatory and product specification requirements.

The current employee work arrangement for this position is hybrid and requires your on-site presence (at one of the following locations: Newark, NJ, Dresher, PA, & Shelton, CT) 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.

What you can expect:

• Partner with cross-functional actuarial representatives and annuities cross-functional business partners (including product and control functions) to ensure thorough understanding and peer review of calculation in support of all regulations and processes.

• Provide on-going actuarial knowledge and creative problem resolution within Product and to business partners across the organization.

• Consistent focus on streamlining and enhancing existing processes and tools. Develop and execute on opportunities to replace manual administrative calculation tools with automated processes and/or expanded administrative system functionality.

• Create detailed calculation mechanics, assumptions, and methodologies for new product development, changes to existing products, and in-force product escalations. Provide technical product perspective so the methodologies are in good order to serve as a blueprint to build and deliver tools.

• Create, enhance, or peer review actuarial tools, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality.

• Prepare user guides and training for users such as the Technology team.

• Prepare SOPs for ongoing maintenance of the tools.

• Sign off on test strategy for new product development or changes to existing products.

• Review test results and resolve any testing fallout for administrative and illustration updates.

• Maintain controls on new and modified tools in accordance with established controls.

• Sign off on test strategy for ongoing illustration and administrative system updates.

• Support the development and lead the execution of strategies to replace manual administrative calculation tools with automated processes and/or expanded administrative system functionality.

• Provide technical and analytical support to other groups within the organization

• Support internal audits, RCSA’s, and other activities to reinforce the usage of sound processes and a control consciousness.

• As needed, support the creation of all required actuarial regulatory documents as required by state and other regulatory bodies for new product development and in-force product management.

What you’ll need:

• Bachelor’s Degree.

• 3-6 years relevant experience in financial services products.

• Strong technical skills in Microsoft Excel including VBA and other programming.

• Excellent ability to demonstrate and communicate technical aspects of product calculations verbally and in writing.

• Approach work with intellectual curiosity and transparency with an openness to giving and receiving feedback.

• Self‐motivated, proactive, thinking beyond functional responsibilities to broader business strategy.

• Highly organized, collaborative, creative, and adept at handling multiple, changing priorities where creative solutioning is required.

• Experience with Agile project management concepts is preferred, but not required

• Skilled at resolving conflict and negotiating effectively and tactfully.

• Proven strong attention to detail and follow‐through skills.

• Strength of convictions and ability to influence and champion product changes

• Ability to effectively manage several dissimilar projects and prioritize.

• Ability to work independently and as part of a team.

It’d be a plus if you had:

• Microsoft Access experience is preferred but not required.

• Previous experience with actuarial exams is a plus (for example, having passed 2-3 exams).

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.

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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 $92,400.00 to $137,400.00. 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. 

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

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

• Company-funded pension plan. 

• Wellness Programs 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.  

• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.  

• 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. 

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. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.