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The Director, Actuarial, Structured Settlement Pricing & Modeling, is a new position responsible for leading the pricing and modeling of Prudential's industry leading Structured Settlement business.
- Develop and refine pricing, modeling, and capital methodology and financial frameworks for new and existing books of business. Ensure compliance with enterprise pricing standards.
- In partnership with business leaders, determine and test optimal pricing strategies to balance competitiveness, growth and profitability.
- Refine modeling of asset pricing assumptions in partnership with ALM. Evaluate potential portfolio strategies, including usage of derivatives. Utilize stochastic and deterministic modeling techniques to evaluate the standalone and incremental impacts of potential investment and pricing strategies on statutory, GAAP, and economic balance sheets, income statements, and corresponding risk/return metrics
- Provide timely and accurate pricing for Structured Settlement rate books, daily rates, and special quotes, to enable achievement of sales and profit target.
- Monitor assumptions and bid request results to identify trends and recommend changes.
- Coordinate the development of robust, integrated pricing & modeling platform for Structured Settlement business.
- Provide pricing support of product development initiatives.
- Develop and maintain pricing metrics and ongoing evaluation of actual vs. pricing results.
- Assist with other non-Structured Settlement Prudential Retirement actuarial projects (in-force management, pension risk transfer and longevity reinsurance) as needed.
- Be an active participant in Prudential's actuarial community
- Bachelor's degree required
- FSA strongly preferred, ASA required,; 7+ years of business / actuarial experience.
- Experience with structured settlement, annuity or group pension products.
- Knowledge of longevity, mortality, interest-rate and credit risks.
- Knowledge of reserving techniques, financial statements and projections, insurance laws and accounting, investments, term structure of interest rates, duration/convexity and the operation of the financial markets.
- Superior technical skills and ability to understand complex quantitative concepts and models.
- Strong project management skills and ability to juggle multiple priorities.
- Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
- Strong interpersonal skills and ability to work productively with internal and corporate business partners (product, actuarial, finance, treasurers).
- Excellent presentation and communication skills, particularly in presenting results to senior executives.
- Advanced Excel, Visual Basic and related computer skills.