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!
For more than 140 years, Prudential Financial Inc. has helped individual and institutional customers grow and protect their wealth. Today, we are one of the world's largest financial services institutions with operations in the United States, Asia, and Latin America. We also have one of the most recognized and trusted brand symbols: The Rock®, an icon of strength, stability, expertise, and innovation.
The Director, Global Products will primarily be responsible for working with product and pricing teams around the world promoting new product and pricing initiatives to improve growth and profitability within the individual life and Accident and Health related space. Some of the specific activities would include; providing guidance on global product pricing practices, product development and pricing for non U.S. operations as needed , assistance with development and maintenance of Product Pricing and VNB standards, production and consolidation of VNB reporting, thought leadership for product optimization strategies, promotion of less interest and capital intensive products , reinsurance programs & transactions, product reviews focused on individual Life and Accident and Health products such as Traditional Life, Par Life, Universal Life, Variable Universal Life, Indexed Universal Life, health related benefits and riders across Prudential's global businesses.
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This position will report to the head of Global Product Team lead for Life Product and will collaborate with US and International product and pricing teams to improve growth, pricing and profitability.
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.
What you can expect:
- Along with Global Life Product lead, maintain and develop the enterprise product pricing and VNB standards, focused on Life Insurance & A&H products.
- Sharing global best practices related to product ideation and pricing across business units and countries tailored to specific requirements of each market.
- Maintain external competitive intelligence and industry trends for key markets.
- Analysis of VNB results and advising on product optimization opportunities with respect to VNB, capital utilization, risk management, potential for use of reinsurance, working with multiple stakeholders as needed.
- Provide technical guidance in the development and/or enhancement of new products, including assumption development, understanding local reserve and capital requirements, modeling, and pricing, etc.
- Periodic product specification, pricing and or review of new life insurance or Accident and Health related products.
- Reinsurance transaction pricing and support as needed
- Experience Analysis - actual vs. expected - setting standards, tracking across all products Assumption Setting will be the direct responsibility of business unit valuation teams however this team will review recommendations to appointed actuaries and PFI chief actuary for Non-Market Actuarial Assumptions for the teams' covered products.
What you'll need:
- Professional actuarial designation FSA, FIA or equivalent
- 7 or more years of experience, including individual life, Accident and health related product experience with product development, pricing, reinsurance, actuarial and financial projections with Statutory financial reporting and capital requirements for the U.S.
- U.S. Life, International product experience with Bermuda valuation and capital regulatory framework understanding a plus.
- Strong risk management skills particularly for market, credit, and insurance risks
- Team player, able to relate well to a broad spectrum of cultural teams; collaborative and inclusive.
- Strong quantitative and analytics skills, including the ability to assimilate concepts and assess situation.
- Excellent written and verbal communication skills to communicate pricing results, profitability metrics, risks to senior leaders and key stakeholders.
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:
- 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
- Retirement plans:
- 401(k) plan with company match (up to 4%)
- Company-funded pension plan
- Wellness Programs to help you achieve your wellbeing goals, including 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.
- Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
- 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.
To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Note: 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 $160,700.00 to $217,300.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. 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. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
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, 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.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
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.
PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.
Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.