Senior Actuarial Associate (Fixed Annuity Pricing)

Prudential Annuities Distributors (PAD); Newark (NJ); Hybrid; USD 96,200 - 158,800; Full time

Benefits offered by this job

401(k) plan with company match

Medical, dental, vision insurance

Wellness programs

Education benefits

Employee Stock Purchase Plan

Job summary

A leading financial services institution is looking for a Senior Actuarial Associate in Newark, NJ. The role involves managing rate settings for annuities, supporting financial strategies, and collaborating with various business partners. Candidates should have over two years of actuarial experience along with strong analytical and communication skills. This position offers hybrid working options and a competitive benefits package including a 401(k) plan, wellness programs, and educational benefits.

Qualifications

• Two plus years of actuarial experience.
• Strong collaboration skills; Ability to partner with peers.
• Excellent oral and written communication skills.

Responsibilities

• Manage rate setting and renewals for annuities.
• Contribute to process improvements.
• Work with investments to manage equity-based annuities.

Skills

Actuarial experience

Collaboration skills

Analytical skills

Programming languages (SQL, Python)

Education

Bachelor's degree in relevant field

Tools

Excel

SQL

Python

Power BI

Job description

Job Classification:Actuarial - ActuarialAt 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 Annuity Pricing team is responsible for executing crediting rate actions across the entire individual annuity suite of products, employing product management levers to meet risk/return objectives. The team is also responsible for developing and implementing strategies to balance profit targets with sales goals while considering impacts to customer experiences. The **Senior Actuarial Associate** will support those activities for our Fixed product suite.**The current employee work arrangement for this position is hybrid or virtual** and may require your on-site presence on a reoccurring basis as determined by your business, dependent on the candidate's location. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.**What you can expect:*** Working with Annuities business partners to manage rate setting and rate renewals for fixed and fixed index annuities (e.g., MYGA, FIA).* Assisting in special projects to improve analytical value to stakeholders.* Contributing to process improvements by leveraging various platforms including Excel, SQL, Python, and PowerBI.* Understanding and explaining annuities’ key financial drivers to Annuities business partners.* Implementing appropriate pricing assumptions to be used in rate setting.* Working with investments department to manage investments and hedging of equity-based annuity guarantees and ALM.**What you’ll need:*** Two plus years of actuarial experience.* High‐energy individual who is self-motivated, enthusiastic, curious, and has a growth mindset.* Ability to own/drive deliverables, manage time, and handle multiple priorities simultaneously.* Strong collaboration skills; Ability to partner with peers and leaders across business and corporate functions.* Ability to grasp complex concepts and provide insightful analytics.* Continuous improvement mindset with desire to reimagine work in a tech-forward way.* Excellent oral and written communication skills, particularly in explaining technical results to non-technical audiences.* Exposure to or willingness to learn programming languages (i.e., SQL, Python, Power BI, VBA).Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.**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 $96,200.00 to $158,800.00. 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), after one year of service.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 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] you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of Dec. 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information please visit news.prudential.com.**Our Commitment to an Inclusive Workplace**Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t 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, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a global investment manager with US $1.3 trillion in assets under management as of Dec. 31, 2023. 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. For more information about PGIM, visit pgim.com.Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United