Vice President, Actuary ~ Pricing - Pension Risk Transfer Funded Transaction Team Leader Job Listing at Prudential in Iselin, NJ

Insurance, Finance

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. For more information, please visit www.prudential.com.
 
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations.  Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services.  With over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3 million participants and annuitants.  Prudential Retirement has $181.1billion in retirement account values as of 6/30/10. For more information, please visit http://www.prudential.com/retire/.
 
The VP & Actuary, Pricing - PRT Funded Transaction Team Lead, is a new position that will play a leadership role in the overall pricing execution of Prudential's rapidly growing PRT Funded Business.
 
 
Responsibilities:

• Lead pricing execution for funded PRT transactions.
  


• Oversee financial modeling and pricing integrity all funded PRT transactions.
  


• Lead a team of highly motivated and talented quantitative professionals to achieve  aggressive business growth goals.
  


• Partner with Product Actuarial and Longevity Underwriting Teams to analyze mortality and demographic assumptions for pension liabilities.
  


• Partner with the Asset Liability Management (ALM) group on investment assumption development and execution for pricing funded transactions.
  


• Partner closely with a cross functional pricing team involving the key Corporate Partners (Actuarial, Treasurer's, Tax, Audit) as well as key Business Partners within Retirement.
  


• Provide timely, accurate and insightful pricing analytics to facilitate confident decision-making and to achieve business goals.
  


• Lead the development and implementation of the financial foundation for product innovations and customized solutions.
  


• Partner with business and corporate leaders to determine and implement optimal pricing strategies that balance competitiveness and profitability while ensuring compliance with Enterprise Pricing Standards.
  


• Lead internal efforts to secure necessary approvals both from Prudential Retirement's leaders and other governing bodies across the Prudential Enterprise.
  


• Establish efficient and robust pricing processes and ensure compliance with Model Risk Policies and End User Controls.
  


• Be an active participant in Prudential's actuarial community
  

 

• Bachelor's degree required
  
• FSA with 10-15 years of strong actuarial experience (product development, pricing, valuation, GAAP/Stat reporting, financial modeling, asset-adequacy testing, asset/investment/hedging/risk modeling, etc)
  
• Superior technical skills and ability to understand complex quantitative concepts and models
  
• Investment or ALM experience would be a big plus.
  
• Good communication skills, particularly in presenting results to senior executives.
  
• Strong project management skills and ability to juggle multiple urgent priorities.
  
• Strategic thinker and creative problem-solver, particularly in areas with very little clarity or precedence.
  
• Other risk/investment professional designations such as CFA, CERA, PRM, FRM or advanced degrees are not required but would be welcomed.
  
• Highly motivated and ability to thrive in a fast-paced, results-oriented environment with high quality standards.
  
• Fast learner and ability to work in a multi-functional team environment.