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Senior Actuarial Associate
Prudential Securities
Newark, NJ, United States
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Description
Prudential Financial, Inc. is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. For more information, please visit www.prudential.com.
Prudential Annuities develops, markets, and services an array of fixed and variable annuity products designed to help investors generate guaranteed income that they cannot outlive. It is a leading provider of innovative variable annuity products, with over $150 billion of variable annuity assets under management.
This position resides in Prudential’s Actuarial Modeling Center of Excellence – Annuity AXIS Team.
Primary responsibilities include:
• Collaborate with various stakeholders including Assumptions, Valuation, Financial Reporting, ESS and others to understand the business requests and to transform the development needs into execution plans.
• Support the Annuities Actuarial Forecasting Transformation project, both from technical and business perspectives.
• Support new projects and processes for new products such as FIA and FA and new regulation implementation including FASB Targeted Improvements and VA Regulatory Reform.
• Perform continuous enhancements of the GGY AXIS valuation systems and other supplemental modeling tools, to meet the growing demands of reserve reporting and analytics.
• Provide valuation, forecasting and other annuities actuarial teams modeling services such as model development, production runs, results analysis and other modeling support.
Qualifications
• Bachelor Degree in Actuarial Science, mathematics, finance, computer science or other quantitative related fields are preferred.
• Experience in annuity modeling, valuation or pricing is strongly preferred.
• Experience in actuarial modeling systems such as GGY-AXIS, Prophet, MG-ALFA, Moses is strongly preferred.
• Experience in working with large scale database/data warehouse solutions, strong proficiency in SQL Server or Oracle is desired.
• Strong quantitative, analytical and problem solving skills to quickly learn different aspects of complex problems and create solutions by collaborating with multiple business partners.
• Strong time management skills, and ability to handle multiple assignments and meet deadlines.
• At least 1 year of actuarial experience is required.