Director, Actuary ~ Stable Value Actuarial, Prudential Retirement~ Woodbridge, NJ Job Listing at Prudential in Iselin, NJ
Prudential Retirement's Stable Value Actuarial area is a unit of Prudential Retirement that helps to manufacture and manage tax-qualified annuity and investment products offering protection of principal and stable returns. Products supported include guaranteed interest contracts (GICs) and fixed rate options for defined contribution (DC) plans, as well as innovative products that guarantee values based on external portfolios. Prudential is a market leader in stable value products, with over $90 billion in total book value guaranteed. The stable value wrap component of Prudential's stable value block has been growing rapidly in recent years, and exceeded $46 billion on December 31, 2011.
Stable Value Actuarial is responsible for the pricing and valuation of Prudential's stable value wrap business. The area is also often called upon to contribute to the development of other products for Prudential Retirement, due its proven ability to analyze complex product features and negotiate with leaders in the Corporate center of the company as well as with outside parties such as auditors and regulators. We expect to continue to be a leader in product innovation and solutions allowing Prudential to achieve the right outcomes for its clients and shareholders.
Stable Value Actuarial's operations are based in Woodbridge, New Jersey near the Metropark train station.
Assist in the development of new and enhanced stable value products for DB and DC plans and for the institutional and retail capital markets. Product development activities may include:
Maintain and enhance stochastic models that calculate required capital and fees for stable value wrap transactions:
Lead periodic review of assumptions for use in pricing and the setting of required capital. Present recommendations and results of sensitivity tests to upper management, and communicate results with various stakeholders.
Assist in the local implementation of projects related to the convergence of financial standards, including economic capital, RAROC, and principle-based reserving.
Opine on the adequacy of fees and reserves for selected products, such as stable value BOLI and registered separate account annuities.
Assist in the financial management of stable value products. Review income statement assumptions and forecasts; suggest changes in processes to improve both bottom line results and adherence to Corporate standards.
Assist in the development of documentation of operational rules, guidelines, and controls for the pricing and risk management of stable value products.
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