Vice President & Actuary at Prudential Ins Co of America in Newark, New Jersey

Job Description:

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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!

Are you able to relate well to a broad spectrum of cultural teams? Are you collaborative and inclusive, able to use your influence to negotiate and resolve conflicts? Prudential has an opportunity for a Vice President & Actuary, Global Retirement and Savings Products to join their organization.

The Vice President & Actuary will be responsible for pricing oversight, development and maintenance of Product Pricing and VNB standards, production for VNB, thought leadership for product optimization strategies, review and approval for actuarial assumption setting including lead of Economic assumption development, promotion of less interest and capital intensive products and general risk management, reinsurance program/ transactions reviews focused individual retirement products such as Indexed variable annuities, Fixed annuities and Institutional Retirement products including U.S. pension risk transfer (PRT), International reinsurance, Institutional stable value wrap and Structured settlements across U.S. market and similar products across Prudential’s global businesses.

This position will report to the head of Global Products and Chief Actuary of Emerging Markets and will access a pooled resource team of up to five 5 individuals This position will collaboratively work focusing on U.S. Retirement strategy and global product teams during product development process with a formal matrix reporting structure between Global Actuarial team and business unit product development teams and across other teams within global actuarial teams, including Bermuda and PICA teams to identify and assist in implementation of reinsurance programs as needed.

The current EWA for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Travel is expected to be no more than 10% of time.

What you can expect:

• Coordination and collaboration with U.S. and International product development and Product Pricing teams to provide subject matter expertise and formal oversight procedures. Including formal documented review and commentary provided for new products, represent, and participate in various Product Pricing Councils within the company, escalating product design and pricing that could pose material financial/reputational risk.




• Lead, to maintain and development the enterprise product pricing and VNB standards.




• Sharing of best practices of product ideas and pricing concepts across business unit and countries tailored to specific requirements of the country.




• Lead team in the development of enterprise-wide economic Assumptions in Economic & Investment Methodology & Assumption Review Committee (EIMARC)




• Analysis of VNB report results and ideation on potential strategies to improve.




• 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.




• Participate and provide advice on product optimization analysis with respect to VNB, capital utilization, risk management, opportunities for use of reinsurance transactions working with multiple stakeholders as needed.




• Partner with other departments to develop risk mitigation strategies for new and existing products including the coordination with Chief Investment officer office on investment strategies, hedging for product development and risk management purposes.




• Supervise and direct a team of pooled team members plus all BU Pricing/Assumptions leads would helix into this role to ensure alignment, consistency, and standards.




• 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




• 10 or more years of primarily U.S. individual and Institutional product experience with product development, pricing, reinsurance, actuarial and financial projections with major Statutory financial reporting and capital requirements for the U.S. and major international insurance markets.




• Risk management skills particularly for market, credit, and insurance risks.




• Excellent written and verbal communication skills to communicate pricing results, profitability metrics, risks to senior leaders and key partners.

It’d be a plus if you had:

• U.S. Life, International product experience with Bermuda valuation and capital regulatory framework understanding a plus.




• Subject matter expertise with capital markets, investments, varied asset classes and hedging.




• Quantitative and analytics skills, including the ability to assimilate concepts and assess situation.
   

Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
 

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 including 1:1 Career advice, 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.


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  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 $207,800.00 to $281,200.00. 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.