Director, Actuary ~ Individual Annuity Financial Modeling Job Listing at Prudential in Newark, NJ (Job ID IND0004M)
The individual will be an integral part of the Financial Modeling team in the Actuarial unit of Prudential Annuities, which is responsible for developing and maintaining the core functionality of the actuarial software used to meet the business's modeling needs. Also, the individual will be charged with making sure that a proper control process is installed to govern all changes to the VACARVM and GAAP models. Such a process will include testing protocols, version control, and good documentation of all changes to the model. This individual will also be involved with regulatory testing such as Asset Adequacy Testings and will be expected to do analysis and trouble- shoot problems.
Prudential Annuities has implemented an home grown system to address its modeling needs, which include VACARVM, GAAP, asset adequacy testing, C-3 risk-based-capital analysis, the business forecast and planning process, and economic capital analysis. Financial Modeling has built projection model to support the company's Economic Capital and business planning model to include DAC unlocking, SOP unlocking and attribution analysis. The unit has continued working on better projection systems to meet business demands.
The Financial Modeling unit is a dynamic area within Annuities area, growing to meet the increasing business needs of modeling, including:
- Monthly VACARVM projection,
- Monthly GAAP and SOP 03-01 stochastic projections,
- Economic Capital, forecasting models and,
- Regulatory Testing including Asset Adequacy Testing.
Strong quantitative and analytical skills. Ability to identify problems and implement comprehensive solutions.
Master degree or higher in mathematics, actuarial science, finance, computer science, or other related quantitative field.
Experience with the MG-ALFA or other financial modeling software is preferred.
Strong financial/modeling knowledge (AG43, GAAP, SOP 03-01 and ALM) is a plus.
Actuarial-related programming expertise is required. Experience in C/C++, Excel/VBA programming is strongly desired.
Effective interpersonal and communication skills.
Actuarial credentials - FSA desired.
The successful candidate must be detail-oriented and highly motivated, with strong modeling skills as well as willingness to develop and learn, and must be able to work equally well independently and in a team environment.
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