Job Classification:
Actuarial - Actuarial
At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading financial services institutions!
The current employee work arrangement for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.
Work locations- Newark, NJ or Hartford, CT.
This position will be in the Methodology team within the Retirement Strategies Actuarial group. The role will be responsible for developing sound methodology for pricing models and frameworks, creating innovative solutions to support various annuity and retirement products pricing initiatives, and working in the frontline to solve complicated problems with various stakeholders. The candidate will have a special focus on R&D work, supporting technical aspects of new product launches, evolving pricing strategies and transformative initiatives, but will also have opportunities to directly engage with the business and influence business outcomes. Recent projects included: analyzing and quantifying capital diversification benefits for Annuities flagship indexed annuity (RILA) products, creating asset / liability management framework and models, and conducting research for a variety of pricing / risk initiatives such as dynamic policyholder behaviors and renewal strategies.
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The individual will work closely with other members of the Retirement Strategies pricing teams and modeling teams as well as interact with other functions, which may include CIO, Valuation, Capital Management and ERM. This individual will also work with a high degree of autonomy to identify issues and propose solutions for unique and sometimes non-traditional challenges. This position requires a curious, creative individual with strong analytical, conceptual thinking and quantitative modeling skills who can quickly pick up key concepts to work on a wide range of projects in a dynamic environment.
What you can expect:
• Research and refine the in-house asset liability management (ALM) framework and model capabilities in MATLAB, and design and implement new ALM frameworks
• Brainstorm ideas and build methodology prototypes to help address complex problems stemming from new product launches, new pricing strategies, enterprise framework and/or regulatory framework changes
• Lead & develop sound methodologies with attention to their practical business applications through strong execution, in support of critical Retirement Strategies and enterprise initiatives
• Proactively drive methodology refinements and technology advancements to generate enhanced modeling capabilities by conducting innovative research
• Collaborate with the Modeling, New Initiatives and Pricing / Rate Setting teams to ensure methodology refinements and pricing framework changes are well understood and incorporated properly
• Lead modeling and risk analysis to support sound product and risk decision-making, and connect with other business partners to create robust solutions to complex business challenges
What you'll need:
• 4-5 years of actuarial experience or equivalent experience in a similar quantitative financial field; annuity and retirement product knowledge is desirable
• Strong quantitative modeling and analytical skills; understanding of financial instruments and asset liability management preferred
• Prior experience with annuity and/or retirement pricing, valuation and modeling is a plus
• Advanced education in a quantitative or financial field is a plus
• Solid programming skills (e.g., in VBA or other programming languages); experience with MATLAB, Python and/or or Machine Learning is a big plus
• Good verbal and written communication skills; demonstrated ability to explain technical concepts to non-technical audience
• Highly motivated individual who can work equally well independently and in a team environment
• ASA or close to ASA preferred.
At Prudential, you can:
Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward.
We're a global organization, full of outstandingly dedicated people who aren't afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose.
What we offer you:
Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $115,800.00 to $172,300.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programsincluding up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.
If you need an accommodation to complete the application process, please email accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.