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Associate Actuary, Annuities Pricing
Prudential Securities
Hartford, CT, United States
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Description
The Individual Annuities line of business is one of the key strategic focuses for the enterprise. This position will play a vital role within the Variable Annuity Pricing team. This role will support development of product enhancements and be responsible for product pricing which produces profitable business that meets corporate and regulatory guidelines. This position will work closely with other members of the annuity pricing team as well as other functional areas, which may include Product, Finance, Valuation, Hedging, Investments, Corporate Actuarial, IT, and other lines of business. This position will give the candidate exposure to all aspects of the annuity pricing process and provide a deep understanding of the profit & risk profile of annuities.
Specifically, this position will have the following accountabilities:
• Support the pricing of variable annuity product development initiatives.
• Own variable annuity pricing processes such as rate setting, profitability reporting, forecasting, and sensitivity analysis.
• Develop assumptions and pricing models for new and existing variable annuity products.
• Support ad-hoc pricing requests from senior management and produce key metrics used to evaluate strategic decisions.
• Collaborate with Hedging, Valuation, Finance, Corporate Actuarial, and other business partners in creating solutions to complex problems.
• Maintain appropriate governance and documentation around pricing models and assumptions and respond to inquiries from oversight groups.
• Improve & streamline existing processes
Qualifications
• B.S./ B.A. required
• Associate of the Society of Actuaries designation (ASA), with 3+ years of actuarial experience
• Experience with fixed or variable annuity products a plus
• Must be able to communicate technical information both orally and written to both technical and non-technical individuals
• Strong quantitative and analytical skills, including an ability to solve complex problems
• Strong Excel and VBA programming skills. Experience with other actuarial software a plus (MATLAB, GGY Axis, Access, etc.)
• Good research skills; ability to gather and distill information from internal and external sources in order to develop pricing assumptions and methodologies
• Highly control-conscious mindset
• Ability to effectively collaborate with business partners to jointly design products
• Ability to handle multiple projects and work independently
• Ability to make recommendations with clear and appropriate supporting analysis.