Director, Actuary ~ Valuation ~ Newark, NJ Job Listing at Prudential in Newark, NJ

Insurance, Finance

Generally, members of the Actuarial Job Family are involved in evaluating contingent risks, such as mortality/longevity risks, morbidity risks, accident risks, asset-liability matching risks, and expense risks. More specifically, members of this job family would usually have primary responsibilities in one or more of the following Actuarial Functions - Pricing and Product Development, Valuation & Financial Reporting or Research & Support. This position is responsible for complex actuarial work in a Profit Center, typically in one or more of the Actuarial Functions. The incumbent will typically have several years of significant relevant experience in that function following attainment of FSA/FCAS. He/She would generally be qualified to provide actuarial certifications to the Company Actuary or outside parties. The incumbent will usually manage staff and is frequently a resource to related functions such as marketing support, actuarial systems, operations, or contracts. This is a multi-incumbent position usually reporting to a Vice President & Actuary (typically Job Code: 10151)

Job Description
 
The individual will be part of the Capital Market Hedging (CMH) team of Prudential Annuities, which is responsible for the analysis and updating of key liability measures for variable annuity capital market guarantees to facilitate the hedging of these risks. The unit also plays an important role in the product development process for variable annuities by reviewing analysis and option costs for new variable annuity capital market guarantees being considered. This position will serve in CMH team's valuation group, which is responsible for monthly, weekly, daily liability valuation of FAS 157 embedded derivative, quarterly financial reporting and providing supports for enterprise wide economic capital project. This position will report to VP of CMH valuation, leads a team within valuation group to perform and analyze risk neutral valuation for variable annuity living benefit, manage assumptions update process, enhance financial reporting, fine tune liability attribution analysis, collaborate with other CMH functions to support any valuation relative initiatives and assist in ad hoc projects. This is an exciting opportunity for this position to take a leadership role and have an influence on the development of the liability analytics.
 
Qualifications and Skills:
 
          7+ years of actuarial experience
          FSA designation
          Experience of managing staff
          Variable annuity valuation experience is required
          Strong quantitative and analytical skills
          Creative problem solver
          Prior experience with MG-Hedge or similar actuarial modeling software would be helpful
          Must be able to work equally well independently and in a team environment
 
Other Comments:
 
This position requires an individual with both strong modeling and project management skills that is able to work on new projects with little guidance.