Actuarial Associate, Pricing & Product Development | PGIM Ireland

PGIM Ireland; Letterkenny; Hybrid; EUR 60,000 - 85,000; Full time

Benefits offered by this job

Health Insurance

Pension Scheme

Annual Leave 23 days + US holidays

Annual Bonus Programme

Life Assurance

Job summary

PGIM Ireland is seeking an Actuarial Associate, Pricing & Product Development in Letterkenny. The role centers on Longevity Reinsurance pricing, data analysis, and model updates in a hybrid environment with two on-site days weekly.

Qualifications include a Bachelor’s in Actuarial Science and progress toward FIA, plus ~2 years actuarial experience. Proficiency in Excel and SQL/Python is valued for pricing work and client collaboration.

Qualifications

• Bachelor’s degree in Actuarial Science or a quantitative field.
• Progress towards FIA designation preferred.
• Around two years of actuarial work experience desired.

Responsibilities

• Assist with pricing for Longevity Reinsurance deals and flow solutions.
• Prepare assumptions and financial projections for pension liabilities.
• Consolidate data from pension plans and insurers for pricing updates.
• Collaborate with US and Ireland teams to support pricing execution.

Skills

Actuarial modelling

Excel

SQL

Python

Communication

Education

Bachelor's degree in Actuarial Science

Progress towards FIA designation

Tools

SQL

Python

Excel

Job description

Actuarial Associate, Pricing & Product DevelopmentLetterkenny: Hybrid two days on site a weekOur VisionAt PGIM Ireland, we care about our employees, and are committed to seeing them succeed. We provide our employees with access to professional development and support to help drive their success and ability to innovate.What you will doThe Senior Actuarial Associate, Pricing & Product Development within our Ireland based International Reinsurance pricing team. You will play a key role in the overall pricing execution of Prudential Financial’s rapidly growing Longevity Reinsurance Business. You will be instrumental in navigating new deal opportunities, from assumptions setting and pricing Longevity Risk Transfer transactions, to collaborating with stakeholders across the business.What you can expectPrudential supports the PRT market in the UK, Netherlands and beyond by reinsuring mortality and other demographic risksThis provides increased capacity for local market front-end insurers to price competitivelyYou will support pricing of mid-market (£300M+) and ‘jumbo’ (£1Bn+) pension risk transfer (PRT) dealsYou will:Work with a broad group of international actuarial and business partners in a fast-paced, collaborative, customer and deal-focused environment.Liaise with external clients and a supportive group of US based colleagues to protect and leverage dataAnalyse pension plan experience data to determine mortality and marital assumptions.Generate assumptions and financial projections for underlying pension liabilities.Determine a range of fees to be charged for reinsuring longevity risk.The role will also include supporting our Longevity Reinsurance ‘flow’ solution for sub GBP300M transactions. You will:Analyse materials provided by the pension plan to the front-end insurer, to establish benefit design and data characteristics.Cleanse, sew together and update pensioner data.Prepare simplification and transaction models to generate reinsured cashflows and fees.Consolidate findings with those provided by front end insurer and reconcile any differences.Update pricing and underwriting parameters every 6 months.Help maintain and improve our models.What you will bringBachelor's degree required, preferably in Actuarial Science, Mathematics, Statistics, or other quantitative field (e.g. Engineering).Progress towards attainment of the Associate of the Institute and Faculty of Actuaries designation. Ideally around two years’ prior actuarial work experience.Strong working knowledge of Excel.Exposure to or willingness to learn programming languages such as SQL and Python.What will set you apartAbility to understand complex quantitative concepts and models.Strong communication skills for effective collaboration with our US and Ireland based associates and our international clients.Highly motivated, innovative, and creative problem solver and conceptual thinker.Fast learner and ability to work in a multi-functional, multi-country dynamic team environment.* We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.What we offer you:Competitive salary and established exam based increases: to attract and retain the best talentCulture: we are recognised within Prudential and more locally for our collaborative, supportive and friendly working environment, with state of the art officesStudy package: to support your progress though the actuarial examsHealth Insurance: in partnership with Laya and BUPA to provide health insurance schemes that cover eligible employees’ day to day medical and hospital expenses.Annual Leave starting at 23 days at full pay, plus 10 USA public holidays.Pension Scheme: PGIM Ireland matches employee contributions up to 8% of base salary. Members can also make additional voluntary contributions to the scheme.Annual Bonus Programme & Shop LK Vouchers: Along with an annual bonus employees are rewarded with a choice between CleverCards and Shop LK vouchers, which are paid tax free.Life Assurance: fully paid by PGIM Ireland, employees are covered from their start date and beneficiaries are provided with a lump sum of four times an employee’s salary.Education Assistance: PGIM Ireland have an Education Assistance Programme that reimburses eligible employees for furthering their education.About PGIM – Global Asset ManagementPGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with nearly US$1.4 trillion in assets under management as of July 2025. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.With a history dating back almost 150 years, and experience through more than 30 market cycles, PGIM takes a long-term view, not only in our investment philosophy, but also in how we develop our talent. We want to see our employees excel from their first day with the firm and throughout their tenure with PGIM. We will inspire you, support you, and help you reach your greatest personal and professional aspirations. If PGIM sounds like the place for you, join us. For more information about PGIM, visit PGIM.comOur Commitment to Diversity, Equity, and InclusionPrudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We do not just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.-PGIM Ireland is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants’ gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. PGIM Ireland's aim is to hire the best people for the open roles and all appointments will be made on merit.Any offer of employment made by PGIM Ireland will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within PGIM Ireland.