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

A new model risk policy is being rolled out across the enterprise. PII is establishing a new unit focused on model risk in the Actuarial Infrastructure / Regulatory Initiatives Team within the Actuarial department. The unit will focus on implementing the new enterprise model risk management framework and enhancing model risk management in both PII models and in international operations. This position will report to a Vice President & Actuary and collaborate with various PII Newark teams (valuation, modeling, risk and etc.), PII local operations, enterprise model risk management group (MRMG), and corporate actuarial modeling governance team (AMG). This unit will also support the roll-out of the new operation risk management framework for actuarial areas in International.

1) Model risk

• Lead the model risk implementation, adapting the framework as appropriate in our local operations, primarily focusing on countries other than Japan


• Educate local operations on emerging model risk framework and guidelines


• Lead model registration and model affirmation process for PII local operations in 2016


• Develop and maintain independent test tools to validate actuarial valuation, projection and pricing models


• Manage and coordinate the process for developing and maintaining required actuarial model documentation in accordance to the model risk framework


• Coordinate with PII local operations, MRMG and AMG


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


• Provide on-going support reviewing model documentation and testing model as needed

2) Actuarial operational risk

• Support the implementation of actuarial operational risk framework in selected countries and PII Newark in 2016


• Liaison with Corporate Actuarial and educate others on actuarial operational risk related tasks and projects ASA or FSA with 5+ years of actuarial experience is required

A minimum of 3 years of actuarial modeling experience in valuation and projection is desired

Experience with actuarial modeling software such as Prophet

US GAAP, IFRS, ALM and/or Solvency II knowledge and experience is a plus

Some travel will be requiredStrong quantitative and analytics skills Strong leadership and team building experience

Strong project management skills

Programming experience, preferably in C type language

Creative problem solver

Strong communication skills verbally and in writing