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Internal Audit - Newark, NJ Senior Model & Analytics Auditor (Actuarial)

About the position

This position will be part of the Model Risk & Analytics Audit team, primarily responsible for independent model reviews and testing of models, end user computing solutions, and advanced analytics (Artificial Intelligence (AI), Machine Learning (ML)).


This individual will collaborate with our Financial, Actuarial, Investments, Risk (FAIR) audit partners and will play a key role in developing best-in-class solutions to support audit executions, reporting and analytic capabilities leveraging both internal and external data.
        
Primary Responsibilities   
• Assess the design and implementation of model risk frameworks through targeted first line and second line model related audits.
• Evaluate the effectiveness and quality of model risk mitigation controls (including first line Model Development Life Cycle (MDLC) and second line model validation).
• Assess current key modeling and end user computing processes for potential improvements to enhance modeling/ analytical capabilities and efficiency.
• Participate in a cross functional team throughout the MDLC to assist in the development, implementation (testing), use, performance monitoring and review of modeling technology solutions. This will include those solutions associated with the implementation of key enterprise initiatives including CECL, FASB TI methodology, and Libor transition, to name a few.
• Contribute to the development of tools and solutions for modeling capabilities.
• Develop knowledge of data and model governance concepts that ensures consistency and integrity in model intended uses through the review of model documentation, influential test plans, and technical coverage of modeling capabilities.
• Research evolving techniques, regulatory requirements and emerging modeling risks of advanced analytics (AI, ML).
• Gain exposure to, and develop an in-depth understanding of, multiple lines of business and model types: pricing, financial reporting, capital, forecasting and stress testing.

Qualifications

  • M.S. or B.A. Degree in Actuarial Science, Financial Engineering, Mathematical Finance, Applied Mathematics, Statistics, or related analytical fields
    • Excellent mathematical, analytical problem-solving skills. Risk management or actuarial credential (e.g. FRM, FSA, CERA, ASA) is a plus
    • Effective communication (both written and oral) skills, including the ability to communicate technical concepts to non-technical colleagues
    • Strong relationship and expectation management skills, ability to collaborate with individuals with various expertise and backgrounds
    • Highly curious, motivated and innovative problem solver and conceptual thinker
    • Experience in model development, implementation and/or validation is a plus
    • Knowledge of analytical software packages, such as MATLAB, R, Python is desirable
    • Experience in data validation and reconciliation, database development and maintenance, data governance and reporting is desirable
    • Experience in financial services industry (bank, insurance company, hedge fund, etc.) with knowledge of insurance or bank products is a plus

Prudential 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.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.