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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.
- 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.