Posted in Science 30+ days ago.
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Location: Newark, New Jersey
Prudential Financial, Inc. 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. For more information, please visit www.prudential.com.
The executive will report to the VP and Actuary, Corporate M&A responsible for actuarial aspects of modelling and due diligence for acquisitions and divestitures of the enterprise. This is a highly visible role collaborating with team members working across multiple stakeholder groups.
Prudential’s Corporate Mergers & Acquisitions Group reports directly to Prudential's Chief Financial Officer, and is responsible for the acquisition and divestiture activities across all of Prudential's businesses, including insurance and asset management, in the United States and abroad. Since its inception in the late 1990's, the group has closed more than 70 transactions with aggregate value in excess of $15 billion. The group is also responsible for sourcing acquisitions as well as select strategic analyses.
Specifically, this executive will be devoted to actuarial aspects of transactions including modelling performed either externally with actuarial consultants or internally across Prudential’s International and U.S. entities:
• Development of projections under local statutory, Purchase GAAP and US GAAP accounting frameworks.
• Working closely with Corporate M&A departments, development of company valuation and sensitivity analyses including actuarial appraisals
• Collaboration with internal stakeholders to identify potential actuarial implications of tax, accounting and other factors
• Perform actuarial and related due diligence covering reserve adequacy, product and pricing evaluations, determination of appropriate assumptions, reinsurance programs, evaluation of existing models, actuarial appraisals
• Work with external consultants as needed for valuation and due diligence
• During inactive M&A periods, there may be work on special actuarial initiatives and reinsurance transaction projects.
• Bachelor's Degree required and fully qualified actuary with FSA, FIA or related designation with 10+ years of experience.
• Candidates with M&A transaction-related experience reinsurance and or new initiative modeling experience at a consulting firm, insurance company or investment bank are preferred.
• Broad and detailed knowledge of various valuation methods for insurance companies, product pricing, modeling and Purchase GAAP and statutory reserve valuation methods across wide set of individual, Group, Accident and Health and pension products.
• Strong knowledge of US Statutory, US GAAP, Solvency II and IFRS accounting methods.
• Experience and knowledge of major global insurance markets preferred
• Strong hands-on financial modeling skills with various modeling platforms and systems.
• Extensive experience and success in developing a collaboration building relationships and influencing executive level leadership as well as securing broad organizational support across Business Partners, Corporate Functions (M&A department, Corporate Actuarial, Finance, Investments, ERM) and external advisors (consultants, Investment bankers),
• Proven track record of being a strategic thinker, creative, innovative, and execution-focused, turning ideas into measurable & meaningful results
• Dedication to completing work thoroughly and on time, specifically under strict time-constraints
• Strong written and verbal communication
• Some travel required within U.S. and Internationally