Associate Actuary Job Listing at Prudential in Newark, NJ

Insurance, Finance

The individual will be an integral part of the Annuity Rate Setting / Investment Actuary team in the Annuity Product – Actuarial Management department. This team is responsible for setting crediting rates for fixed annuities as well as fixed buckets in variable annuities; liability duration calculation, collaborating with the Asset/Liability Management team to manage the general account assets; providing support for asset adequacy testing, fixed annuity product development, quarterly forecast, operations, regulatory requests, and other areas.
 
The individual’s responsibilities will include:
 

• Managing the liability benchmark duration calculation & reporting processes


• Managing the replication portfolio construction processes


• Partnering with ALM area to manage the general account assets supporting the annuities liabilities and surplus


• Supporting the fixed annuity pricing and product development


• New Money / Renewal crediting rate setting


• Answering requests/questions from various functional units (including ALM, Corporate Actuarial, Enterprise Risk Management, Product Management, Finance, etc.)


• Ad hoc research and corrective actions

• Must have an ASA or a FSA designation
• Must be able to communicate technical concepts to a wide range of audience
• Must have a strong knowledge of financial mathematics
• Must be resourceful and proactive in resolving questions/problems
• At least 3 to 5 years of experience in the insurance industry (i.e. life, annuity, & retirements) with some experience in annuities
• Some financial modeling experience
• Programming Experience in any computer languages is preferred (e.g. Visual Basic, C++, APL,etc.)
• Strong documentation skills
• Ability to handle multiple projects