Actuarial - Dresher, PA | Shelton, CT | Newark (NJ), NJ | Hartford, CTAssociate Manager, Actuarial
About the position
The Annuity Calculation Management Team performs multiple functions within their area. The Annuity Calculation Management team is responsible for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. Ensuring actuarial & product integrity of in-force block of business through all lifecycles of the 300+ products in force. This person will perform at least one of the functions outlined below:
Methodology function: responsible for defining and documenting calculation methodology for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. This includes delivering technical methodology documents to be used to construct test tools, manual administrative tools, and manual illustration tools.
Tool Delivery function: responsible for building, modifying, and maintaining calculation tools to support all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. This includes a focus on delivering tools to be used for testing illustration and administration systems, signing off on test results, and building tools to support manual processes in the absence of full system functionality.
Operations function: responsible for ongoing management, operational support and all technical aspects of the current annuity product portfolio. This includes a focus on illustration support, exception processing, and administration system test results.
Product Regulatory function: responsible for ensuring that contract forms and regulatory processes satisfy actuarial regulatory and product specification requirements. These requirements would include any actuarial memorandums and certifications.
- Partner with business associates (including product and control functions) to ensure thorough understanding and peer review of calculations in support of regulations and processes
- Provide on-going actuarial knowledge and creative problem resolution internally and across the organization
- Consistent focus on streamlining and enhancing existing processes and tools. Execute on opportunities to replace manual administrative calculation tools with automated processes and/or expanded administrative system functionality.
- Review and opine on the product specifications to raise any concerns, inconsistencies, or clarifications needed.
- Create detailed calculation mechanics, assumptions, and methodologies for new product development, changes to existing products, and in-force product escalations/corrective actions.
Review test results provided by the Technology team, troubleshoot and resolve testing fallout.
Create, enhance or peer review test tools, to be used for testing administrative or illustration system functionality or to support a manual calculation in the absence of full system functionality.
Prepare user guides and training for users such as the Technology team and for use in the updates.
Prepare SOPs for ongoing maintenance of tools.
Maintain controls on new and modified tools in accordance with established controls.
- Bachelor’s Degree
- 3-6 years relevant experience in financial services products
- Strong technical skills in Microsoft Excel including VBA and other programming. Microsoft Access experience is preferred but not required.
- Excellent ability to demonstrate and communicate technical aspects of product calculations verbally and in writing
- Previous experience with actuarial exams is a plus (for example, having passed 2-3 exams)
- Approach work with intellectual curiosity and transparency with an openness to giving and receiving feedback
- Self‐motivated, proactive, thinking beyond functional responsibilities to broader business strategy
- Highly organized, collaborative, creative, and adept at handling multiple, changing priorities where creative solutioning is required
- Experience with Agile project management concepts is preferred, but not required
- Skilled at resolving conflict and negotiating effectively and tactfully
- Proven strong attention to detail and follow‐through skills
- Strength of convictions and ability to influence and champion product changes
- Ability to effectively manage several dissimilar projects and prioritize.
- Ability to work independently and as part of a team.
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 firstname.lastname@example.org for more information about doing business with Prudential.