Actuarial Associate Manager ~ Retirement ~ Stable Value ~ Woodbridge, NJ Job Listing at Prudential in Iselin, NJ

Insurance, Finance

The Investment Only Stable Value Pricing unit of Retirement Actuarial supports Prudential Retirement, one of the major U.S. businesses of Prudential. Prudential Retirement provides retirement investment and income products and services to public, private, and not-for-profit organizations. Prudential Retirement's investment products include "stable value" insurance products that offer stable returns and protection of principal to defined contribution plans. The stable value market exceeds $500 billion, and Prudential is taking advantage of opportunities within this market to grow our market share dramatically. The Associate Manager, Actuarial, of Investment Only Stable Value Pricing will play a key role in the development, pricing, and risk analysis of stable value products. As a member of the team you would contribute to a dynamic work environment with creative, leading edge approaches to product design and risk evaluation.

The Investment Only Stable Value Pricing unit is based in Woodbridge, New Jersey near the Metropark train station.

This position will work closely with other members of the pricing team, as well as other functions, which may include Product Management, Finance, Client Relationship Management, Contracts, and Retirement Actuarial. This role will provide the candidate exposure to the design and contractual details of the stable value products, regulatory compliance, as well as significant exposure to concepts unique to certain areas of the evolving retirement income market.

Specifically, this position will have the following accountabilities:

• Gather financial data from asset managers and intermediaries including asset holdings and projected cash flows, analyze for accuracy, and generate data feeds


• Update and run models that calculate statutory and GAAP reserves


• Further optimize our tools and databases, recommend and implement improvements


• Communicate clearly our data requirements and resolve any arising data issues in timely manner through our Client Relationship Management team and asset managers


• Provide support to our pricing team members as necessary


• Monitor guaranteed mutual fund product for compliance with contractual requirements


• Analyze model outputs, run sensitivity and stress analysis to be used in communication with internal and external clients


• Communicate results clearly and persuasively to management, handle requests in timely manner


• Maintain controls and documentation


• Peer review the work of other team members


• Proactively drive process and risk analysis improvements

• At least 2 years experience in insurance, investments or a financial field in an analytical capacity required
• Strong understanding of fixed income assets, including yield, duration, and convexity required
• Strong Excel, Access, database management, and VBA programming skills required
• Experience with insurance or investment products is a plus
• Society of Actuaries Exam FM and Exam MFE are a plus
• Strong analytical, problem solving, and documentation skills
• Strong written and oral communication skills

Personal Qualities:

• Strong attention to detail
• Self-motivated, demonstrates leadership, initiative, and resourcefulness
• Ability to work independently
• Ability to collaborate with a diversity of personalities and professional backgrounds across the pricing team and other functional areas, including investment professionals, actuaries, contracts, and client relations