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Associate Actuary-Annuities Model Development at Prudential

Posted in Science 30+ days ago.

This job brought to you by eQuest

Type: Full-Time
Location: Shelton, Connecticut

Job Description:

This position is in the Model Development Team within the Annuities Pricing and Risk-Based Design group, which is responsible for designing, building, and maintaining the models and analytical tools used to conduct pricing analyses and design new products. The Associate Actuary position requires an individual with strong analytical, quantitative modeling, programming, and problem-solving skills, as well as deep actuarial knowledge. This individual will be an integral part of the model development team, and will be responsible for building and enhancing variable and payout annuities pricing models to support the fast-paced product development and pricing initiatives.  
Primary Responsibilities:

  • Research, design, develop, maintain, debug, and enhance the in-house Matlab-based stochastic pricing models

  • Create and/or maintain tools, programs, and utilities in Matlab and Excel VBA environments to support demand for more complex analysis and automated processes

  • Independently research and make recommendations for improvements to enhance methodology, capability, ease-of-use, and efficiency

  • Create and enhance controls and documentation to meet risk governance requirements

  • Coordinate with team to analyze and design new product provisions

  • Connect with peers and other business partners to create robust solutions to complex business challenges

  • Collaborate with peers and work on multiple projects in a dynamic and fast-paced environment


  • Required

    • 3+ years of actuarial experience – Annuities Pricing / Valuation / Modeling experience preferred

    • Strong programming skills – Matlab preferred

    • Strong analytical, problem solving, and time management skills

    • Highly motivated independent thinker, able to work effectively alone or in a team environment

    • Willing to quickly develop knowledge of current portfolio of annuity products, designs, and benefits

    • Understanding of quantitative modeling techniques related to capital market, financial instruments and asset liability management

    • Strong oral and written communication skills

  • Preferred

    • ASA or advanced degree in a quantitative finance field (e.g., financial mathematics) is a plus

    • Knowledge in annuities Statutory Valuation, US GAAP and capital framework is a plus

    • Experience in Excel VBA, C/C++ and Object-Oriented Programming (OOP) is a plus

    • GPU Technology (CUDA C) exposure desirable

    • Experience with GGY AXIS is a plus

    • Experience with git or other version control systems is a plus