Director, Variable Annuity Hedging Job Listing at Prudential in Shelton, CT

Insurance, Finance

Prudential's Capital Markets Hedging (CMH) manages market risk associated with Variable Annuity Guarantees.  The group owns the analysis and key asset and liability risk measures and decision-making relative to the hedging of these risks.
 
The New Initiatives group within the CMH Center for Excellence provides an interface for Product, Pricing, Investment Management and other functional business units to leverage the existing and emerging capabilities of CMH for analyzing and assessing risk related to hedging of new or modified products. 
 
The successful candidate will join the New Initiatives team within CMH and will partner with other teams both within and external to CMH to analyze risk with respect to New Initiatives from a hedging perspective.  The Director will take part in analyzing how new proposals from product development and pricing may impact the hedging of such products and the overall risk profile of the business. The incumbent will also look to establish a due diligence monitoring process for evolving products/initiatives that will include the creation of a framework and appropriate benchmarks for such monitoring.
 
The candidate will report directly to the Vice President of New Initiatives within Capital Markets Hedging.  As part of the Annuity Hedging team, the candidate will participate in ad-hoc projects focused on risk management and also in the creation of internal and external presentations related to new products/initiatives.
 
Responsibilities

• Collaboration with product, pricing, investment management, hedging, and other functions in analyzing/assessing risk within existing and proposed products/initiatives and associated hedging strategies


• Act as resource for CMH with respect to New Initiatives to provide Center of Excellence interface for other business units/functions and infrastructure support/development

 

• Bachelor's Degree required
• 5+ years of related experience in variable annuity guarantee risk analysis, assessment, and management working in an ERM/Actuarial/Quantitative Analytics environment
• Strong analytical, problem solving, organizational, and documentation skills
• Strong computer/programming skills, preferably in multiple languages (C++, MATLAB, Python, Excel/VBA, etc.), preferably with Graduate Level Computer Science education
• Ability to rapidly connect to existing analytical infrastructure and tools
• Strong background in Quantitative Finance with respect to valuation/greeks associated with VA embedded guarantees/derivatives; knowledge of capital market instruments (options, swaps, futures, etc.) required, CQF preferred
• Familiarity with Actuarial Pricing models for Variable Annuities and VA Guarantees
• Strong communication and presentation skills with ability to build rapport at all levels and be a strong role model and team player
• Creative problem solver
• Must possess the ability to work in a dynamic, fast-paced environment both individually and within teams; high energy and self-motivated
• Must be willing to develop in-depth knowledge of annuity product designs and optional benefit features

 
Other Comments:
 
This position requires an individual with both risk management and project management skills who is also able to work on complex multiple projects with little guidance. Position may require limited travel to Newark, NJ campus.