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Associate Actuary, International Insurance
Prudential Securities
Newark, NJ, United States
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Description
The Prudential International Insurance (PII) Valuation and Assumptions team is seeking a highly motivated individual to perform detailed reviews and support ongoing analytics of best estimate assumptions developed by actuarial teams in Prudential operations across the globe. Assumptions reviewed include mortality, morbidity, lapse, and expenses for use in US GAAP, internal profitability reporting, Replicating Portfolios, and Forecast.
The candidate will primarily be responsible for reviewing the annual assumption update for all international operations (excluding Japan), and will have ownership of in-depth analysis for a few specific operations. He or she will partner with Finance, Corporate Actuarial, Global Portfolio Management, the newly established Centers of Excellence, and various teams within PII Actuarial to provide guidance, evaluate the appropriateness of existing assumptions, and develop new assumptions as needed.
In addition to the above day-to-day work, the candidate is expected to serve as a subject matter expert on assumptions for ad hoc projects. The candidate will also work on US Statutory quarterly forecast and valuation work for reinsured businesses from Japan.
In addition to the annual assumption update, the candidate will perform quarterly US statutory valuation and forecast for reinsured business from Japan.
Key Responsibilities
• Provide guidance and ensure compliance of assumptions with Corporate standards
• Serve as key reviewer and provide in-depth analysis of assumptions for 2-3 operations
• Potential to review and assess appropriateness of assumptions across up to 10 operations
• Create detailed summaries and presentation materials demonstrating thorough review
• Facilitate Assumption Review Committee (ARC) meetings with senior management
• Review assumption documentation and ARC meeting minutes
• Update experience study templates as needed
• Review quarterly assumption inventory
• Create and maintain process improvements to better streamline annual assumption update
• Serve as Subject Matter Expert for operations that are new to the assumption update cycle
• Conduct quarterly US Statutory valuation and generate and review Exhibits 5&7 for Japan’s reinsured business
• Communicate valuation results to Japan team and Controller
• Conduct quarterly US Statutory Multi Year Forecast
• Provide analysis to reviewing actuaries for their presentation of results
Qualifications
• Bachelor’s degree required
• ASA preferred
• 4+ years actuarial experience
• Experience in assumptions is a plus
• Experience with PolySystems or other actuarial software is a plus
• Life insurance and annuity product knowledge and experience
• Excellent written and oral communication skills
• Detail oriented, with strong analytical and problem-solving skills
• Strong presentation skills and ability to communicate to a non-technical audience
• Proficient in MS Excel, MS Word, and Visual Basic
• High level of self-motivation and ownership of results