Associate Actuary, Financial Modeling - International Insurance - Prudential - Newark, NJ

For more than 135 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, Europe, 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. For more information, visit www.prudential.com.

Prudential International Insurance (PII) continues to be one of Prudential’s fastest growing and most profitable business groups. PII has operations in eleven countries around the world (Japan, South Korea, Taiwan, Malaysia, India, China, Brazil, Argentina, Mexico, Poland, and Italy).

PII is creating a new unit focused on model risk in the Actuarial Infrastructure / Regulatory Initiatives Team within the Actuarial department in Newark, New Jersey. The unit will focus on implementing the new enterprise model risk management framework and enhancing the first line of defense to effectively manage model risk in both PII’s reinsured (domestic US) block of business and in international operations ex-Japan. The position will collaborate with various PII Newark teams (valuation, modeling, risk and etc.), PII local operations, enterprise model risk management group, and corporate actuarial modeling governance team.

Responsibilities include:
Learn the new and changing model risk framework in depth, and interpret the framework to be adopted strategically in PII actuarial

Perform reviews of valuation, capital and pricing models

Support model owners/developers/testers in registering models, preparing model documentation and facilitating model control

Present PII actuarial in various enterprise model risk related meetings and calls

Educate various teams on emerging model risk framework and guildeline

Facilitate a consistent and enhanced strategy for meeting new model risk standards in PII actuarial teams both in Newark and in local operations

Work on special projects Qualifications:
Strong quantitative and analytics skills

Strong actuarial modeling experience with actuarial software (such as Prophet, Polysystems)

2 to 3 years of actuarial modeling experience desired

Creative problem solver with focus

Excellent written and verbal communication skills, in particular documentation

Broad understanding and relevant experience with US GAAP in Life and /or Annuity products

Strong project management skills

Programming experience, preferably in C type language, is a plus

ASA or CFA is a plus