Manager, Financial Reporting Job Listing at Prudential in Newark, NJ

Prudential Financial, Inc. is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America.  Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth.  The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time.  Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.  The Individual Life business is a significant part of the Rock with a rich history of providing protection products to individuals.  Individual Life has revenues in excess of $3 billion and AOI of more than $500 million. 

Description:

The Finance Team that supports the Individual Life Insurance business has an immediate opening for a Manager, Strategy and Capital Management.  The successful candidate is responsible for assisting the Director and Vice President in all aspects of Capital Management planning, forecasting and implementation of solutions, structuring investment portfolios and forecasting net investment income under different economic scenarios.  The position requires a solid understanding of financial results on GAAP, statutory and tax reporting bases and the ability to translate these into meaningful financial analytics as input to strategic business decisions.  Because of the complexity involved, broad knowledge of financial and actuarial concepts is required.  This position will interact with various areas throughout Individual Life as well as throughout Financial Management, including Treasurers, Asset & Liability Management, Regulatory Reporting, and Tax.  Thus, the individual in this role must possess the ability to partner effectively with other Life Finance areas, Domestic Business counterparts and Corporate. 

Key responsibilities include:

• Development of presentations of capital plans to executive management.  Preparation of the capital plans requires a thorough understanding of the Individual Life business, financial and actuarial concepts, key drivers of current and future profitability, required equity and cash flows. 


• Participate as a member of and support the team that negotiates and executes various capital management strategies and other strategic initiatives led by Life Finance on behalf of the Individual Life business; analyzing the impacts of proposed structures on financial reporting, taxes, etc.


• Analyze, describe and present changes to forecast and actual required equity.


• Analysis of competitors' financial reporting, comparing and contrasting with Prudential's results, producing clear and informative insights to management based on those analyses.


• Regular analysis of and reporting on key Individual Life vendors' financial condition.


• Develop net investment income forecasts, including stress test development and analysis as well as developing presentations of the results.  To be successful, the individual must have an understanding of the structure of the invested assets portfolios for the Individual Life business and work closely with ALM and Actuarial.


• Incumbent will also be responsible for various ad hoc strategic projects and presentations as well as supporting analysis of M&A activities as the need arises.

• MBA with finance or accounting concentration or CFA/CPA designation is highly preferred
• Undergraduate degree in Accounting, Finance, Economics or business related field
• 5+ years of financial management/analysis/research experience with exceptional analytical skills
• Strong knowledge of life insurance and actuarial concepts, GAAP, statutory and tax accounting and Prudential financial applications are needed but could be enhanced through on the job training
• Critical thinking and problem solving experience required
• Excellent oral and written communications skills
• Proven ability to meet deadlines, prioritize assignments and manage multiple projects
• Ability to work well both independently and as part of a team, including interfacing with members of senior management
• Presentation development and delivery skills are needed but can be enhanced while on the job
• Demonstrated leadership and partnering skills, including success in influencing outside of direct reporting line
• Responsible for the management and development of staff member and potentially rotational staff
• Eagerness to learn the Individual Life business and its financial drivers of profitability