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Senior Actuarial Associate
Prudential Securities
Newark, NJ, United States
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Description
The position will be in the Projection COE Executions actuarial team. The individual will support Retirement loss recognition & asset adequacy testing production using the Moody’s AXIS platform. Work will involve direct exposure to the modeling of Retirement’s liabilities (primarily Pension Risk Transfer & Structured Settlement businesses) and associated ALM, as well as the analysis of projections to identify the drivers of results.
The candidate responsibilities include:
• Generate asset/liability projections for multiple reporting and internal management purposes including: GAAP Loss Recognition testing reporting, Statutory Asset Adequacy Testing (AAT) to assist the Appointed Actuary to form an Opinion, and for required capital analysis, and enterprise risk management
• Assist in developing more robust analytics/attribution capabilities to validate results and explain period over period changes.
• Engage in projects to support business initiatives, new products, and modeling/methodology improvements.
• Assist and/or perform annual assumption impact analyses
• Test and validate modeling changes and ensure reasonability of overall model results.
• Collaborate with other members of the Projections COE, as well as Valuation, Modeling, etc.
• Timely and accurate delivery of results
Qualifications
• Experience with asset-liability modeling for Loss Recognition Testing or Asset Adequacy Testing and/or experience in a related area (pricing, portfolio management, etc.) is preferred.
• Knowledge of Retirement products, a plus
• Strong quantitative and communication skills to quickly learn and apply complex modeling concepts and be able to communicate to both actuarial and non-actuarial business partners.
• Self-motivated individual with strong analytical and interpersonal skills
• Knowledge of Investments (mainly Fixed Income assets) is preferred
• Experience with actuarial modeling software (GGY AXIS, MG ALFA, Prophet, etc) is preferred.
• Strong technical skills required to efficiently analyze large amounts of data (Excel, VBA, SQL)
• Professional designation (ASA/FSA, CERA, and/or CFA) or progress towards, is preferred