Associate Actuary (PRT Pricing) (Hybrid)

Prudential Ins Co of America in; Newark (NJ); Hybrid; USD 115,000 - 189,000; Full time

Benefits offered by this job

Base salary + bonus potential

401(k) with company match

Pension plan

Medical/dental/vision insurance

Wellness programs

Education benefits

Employee stock purchase plan

Flexible work arrangement (hybrid)

Job summary

Prudential seeks an Associate Actuary (PRT Pricing) for its US Funded Pension Risk Transfer Pricing team. This hybrid role entails pricing execution, modeling enhancements, and process improvements across actuarial workflows.

You will work with senior leadership to deliver pricing insights and strategic recommendations. Ideal candidates hold an ASA with 4+ years actuarial experience, strong technical skills, and the ability to communicate complex results.

Qualifications

• Bachelor's degree (BA/BS) required.
• ASA with 4+ years actuarial experience or equivalent.
• Strong technical skills and ability to understand complex models.
• Excellent communication and presentation skills to senior leadership.
• Strong project management skills and ability to juggle multiple priorities.
• Creative problem-solver in ambiguous scenarios.
• Fast learner and team-oriented in a multi-functional environment.
• Actuarial exam support provided.

Responsibilities

• Lead financial modeling and pricing execution for US Funded PRT transactions.
• Identify and implement planned process improvements and automation in pricing.
• Collaborate with Modeling and Assumptions teams to test model enhancements.
• Analyze population and plan experience data to set mortality and demographic assumptions.
• Provide timely pricing analytics to inform decisions and profitability.
• Ensure pricing strategies comply with Enterprise Pricing Standards and model risk policies.

Skills

Actuarial pricing

Financial modeling

Communication skills

Project management

Analytical thinking

Problem solving

Fast learner

Team collaboration

Education

College Degree (BA/BS) required

ASA designation with 4+ years actuarial experience

Tools

Python

VBA

SQL

Job description

Associate Actuary (PRT Pricing) (Hybrid) (Finance)

Job Classification: Actuarial - Actuarial

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading financial services institutions!

The Associate Actuary, Associate Actuary (PRT Pricing) role on the US Funded Pension Risk Transfer Pricing team, is a position that plays a key role in the overall pricing execution and infrastructure development of Prudential's PRT Business.

The current employee work arrangement for this position is hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.

What you can expect:

• Collaborate with highly motivated and talented quantitative professionals to develop creative solutions and help achieve aggressive business growth goals.
• Lead financial modeling and pricing execution for US Funded PRT transactions.
• Identify and execute planned process improvements and transformation initiatives by using Python, VBA, SQL and other emerging technology to automate and standardize processes.
• Partner with Modeling and Assumptions teams to test enhancements to actuarial models used for cash flow production, mortality and policyholder behavior underwriting, Statutory/GAAP reserve, and ALM projections.
• Analyze population and pension plan specific experience data to determine mortality and other demographic assumptions used in PRT transactions
• Provide timely, accurate and insightful pricing analytics to facilitate confident decision-making and to achieve business goals.
• Collaborate with business and corporate leaders to determine and implement optimal pricing strategies that balance competitiveness and profitability while ensuring compliance with Enterprise Pricing Standards.
• Support internal efforts to secure necessary approvals from Retirement Strategies leaders and other governing bodies across the Prudential Enterprise.
• Implement 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.

What you'll need:

• College Degree (BA / BS) required.
• ASA with 4+ 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.
• Strong communication skills, particularly in presenting results to senior executives.
• Strong project management skills and ability to juggle multiple urgent priorities.
• Creative problem-solver, particularly in areas with very little clarity or precedence.
• 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.
• Actuarial Exam support provided.

It'd be a plus if you had:

• Degree in Actuarial Science, mathematics, finance, computer science or other quantitative related fields.
• Experience with private US pension plans and/or Enrolled Actuarial designation.
• Working knowledge of VBA, Python strongly preferred. Knowledge of other coding languages.
• Investment or ALM experience.
• Other risk/investment professional designations such as CFA, CERA, PRM, FRM or advanced degrees.

At Prudential, you can:

Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward.

We're a global organization, full of outstandingly dedicated people who aren't afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose.

#LI-RRJ

What we offer you:

Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $114,500.00 to $188,900.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.

If you need an accommodation to complete the application process, please email [e-mail].

If you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.