Director, Actuary ~ Longevity Underwriting Job Listing at Prudential in Iselin, NJ

Insurance, Finance

The Director, Actuarial - Pension Longevity Underwriting is a new liability and mortality underwriting  position that will assess, evaluate and underwrite longevity and liability risk for Pension Risk Transfer and Longevity Reinsurance Transaction Opportunities.
 
PRIMARY RESPONSIBILITIES:

• Support the aggressive growth of Prudential's Global Pension Risk Transfer business by providing pricing and underwriting of longevity risk  in support of jumbo transactions.


• Review Plan level mortality experience and determine appropriate Actual to Expected ratios off appropriate mortality tables.


• Assess risk of complex liability plan features such as lump sum anti-selection risk, cash balance plan features, cost of living  benefit provisions, ill health and others


• Determine appropriate best estimate mortality assumptions and determine best estimate GAAP and Stat cash flows and reserve vectors.


• Scenario test various mortality and reserve structures based on benefit size, age, sex, and other key variables.   


• Partner with external consultants and the quantitative modeling team to strengthen analysis and help determine and validate final assumptions.


• Master the application and theory of the various models that create and/or use liability cash flows as inputs including Actual/Expected mortality model, various cash flow pricing programs, analytical tools and financial pricing models.


• Work and massage complex data in various forms and run through appropriate pricing programs to create appropriate cash flows.


• Be an active participant in Prudential's actuarial community. 

• Bachelor's Degree is required
• Highly motivated, inquisitive, innovative, and creative problem solver and conceptual thinker.
• Ability to deliver high impact analysis under intense time pressure.
• Strong technical and analytical skills, with an ability to analyze complex data.
• Strong Excel spreadsheet skills with ability to program complex models in excel.
• Experience with mortality and/or longevity risks and insurance products (ideally within annuity and/or pension space)
• Ability to convey sense of urgency and to work productively with internal and corporate business partners (product, actuarial, finance, treasurers)
• Collaborative and team-oriented leadership style
• Strong presentation and communication skills
• Pension Actuary preferred with 7+ years of pension related experience.