Actuarial - Newark, NJ Vice President & Actuary (Longevity Risk Transfer Pricing Lead)

About the position

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.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services.

POSITION SUMMARY

The VP & Actuary, Longevity Risk Transfer Pricing Lead is responsible for all aspects of pricing and executing new transactions in support of Prudential's Longevity Risk Transfer (LRT) business, which is the international component of Prudential’s rapidly growing Global Pension Risk Transfer business. This includes performing data analysis, underwriting, financial modeling, governance reviews, and contract negotiations. He or she will lead a team of 15-20 actuaries and be required to work in close collaboration with key business unit partners and Corporate/Enterprise functions.

Responsibilities:

•Oversee pricing execution for longevity reinsurance transactions.
•Lead a team of highly motivated and talented actuaries
•Underwriting oversight including case-specific analysis, general methodology updates, emerging market trends and analysis, and partnership with Retirement’s Assumption team
•Pricing of individual deals, methodology updates, and compliance with the Enterprise Pricing Standards.
•Model ownership of various tools used to underwrite and price deals
•Partner closely with a cross functional pricing team involving the key Corporate Partners (Actuarial, Treasurer's, Tax, Risk, Audit) and key Business Partners within Retirement.
•Provide timely, accurate and insightful pricing analytics to facilitate confident decision-making and to achieve business goals.
•Lead the development and implementation of the financial foundation for product innovations and customized solutions.
•Partner with business and corporate leaders to determine and implement optimal pricing strategies that balance competitiveness and profitability.
•Establish efficient and robust pricing processes and ensure compliance with Model Risk Policies and End User Controls.
•Be an active participant in Prudential's actuarial community


Position must be located in Newark, NJ

Qualifications

•Bachelor's degree required
•FSA with 10-15 years of strong actuarial experience (product development, pricing, valuation, GAAP/Stat reporting, financial modeling, asset-adequacy testing, asset/investment/hedging/risk modeling, etc)
•Superior technical skills and ability to understand complex quantitative concepts and models
•Excellent communication skills, particularly in collaborating with stakeholder and presenting results to senior executives.
•Strong leadership skills and demonstrated ability to build high performing teams and a culture consistent with Prudential core values.
•Strong project management skills and ability to juggle multiple urgent priorities.
•Strategic thinker and creative problem-solver, particularly in areas with very little clarity or precedents.
•Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
•Fast learner and ability to work in a multi-functional team environment.
•Experience with Longevity Reinsurance is preferred.

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.

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