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Senior Actuarial Associate
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 support the development of new product concepts and evaluate profitability/risk centered initiatives on existing products as part of the New Initiatives team. Working closely with other members of the annuity pricing team, the role will also require interaction with other functional areas including Hedging, Valuation, Corporate Actuarial, Finance, Product, Modeling and other lines of business. This role 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:
• Evaluate new product concepts via baseline pricing and sensitivity testing.
• Develop assumptions and continually assess modeling methodologies to balance accuracy and efficiency.
• Being familiar with the workings of all our currently sold Fixed & Variable Annuity products to generate & evaluate new design ideas.
• Provide analysis and recommendations related to initiatives on existing products.
• Understanding key drivers of results and being able to articulate them in a clear manner.
• Collaborate with Hedging, Valuation, Finance, Corporate Actuarial, and other business partners in creating solutions to complex problems.
• Maintaining appropriate documentation for all work efforts.
Qualifications
• B.S./ B.A. required.
• Progress towards attainment of the 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 technical and non-technical audiences.
• Strong quantitative and analytical skills, including an ability to solve complex problems.
• Strong Excel and VBA programming skills. Experience with actuarial modeling software a plus (particularly MATLAB and GGY Axis).
• High control-conscious mindset.
• Ability to generate recommendations with supporting analysis.
• Ability to effectively collaborate with business partners to jointly design solutions.
• Ability to handle multiple projects and work independently.