1+ months

Senior Actuarial Associate - Pension Risk Transfer - INT000IQ

Newark, NJ
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Primary Location United States-New Jersey-Newark (NJ)


The Senior Actuarial Associate will act as a point of contact for actuarial and general transaction activities in support of Prudential's Longevity Risk Transfer (LRT) efforts, which is the international component of Prudentials rapidly growing Pension Risk Transfer business.

This individual will be actively engaged in live non-U.S. Reinsurance transactions supporting the Transaction Lead. In particular, they will aid the business teams preparation for discussions with market intermediaries and counterparties on certain live transaction opportunities focusing on benefits, data, and liability modeling, and will also participate in transaction closing and on-boarding activities. The successful candidate will support the teams efforts to achieve aggressive business growth while maintaining an appropriately controlled operating environment.

Position responsibilities include:

  • Provide an analysis and concise summary of pension plan provisions and proposed benefit structure as part of the presales process, identifying any new or unusual risks as well as specific benefit and transaction features that present pricing, onboarding or implementation challenges
  • Review client Request for Quotations (RFQ) documents alongside the transaction lead and ensure that the Business, Underwriting, Pricing and Administration teams interpret these documents correctly and consistently
  • Analyze raw data files and run the transaction data query process for purposes of constructing a reinsurance transaction benefits model
  • Work with counterparty actuaries to reconcile pension benefit and cash flow modeling
  • Work with the Pricing Team to independently replicate Pension and Annuity cash flows using the Best Estimate assumptions along with all reserving and capital scenarios in order to validate the liabilities used in our pricing models
  • Review reinsurance Term Sheets and draft/review legal document language relating to the benefit characteristics that underlie our premiums and fees
  • Actively engage as a member of the transaction team from initial evaluation and quotation, through the on-boarding process
  • Participate in general business transaction support activities 

  • Bachelors degree in actuarial science or related field
  • Minimum of 3 years of actuarial or related work experience preferably in retirement and/or insurance.
  • Desire to pursue ASA/FSA designations.
  • Experience with pension industry is preferred but not required.
  • Strong technical skills (Microsoft Excel and PowerPoint) and ability to understand complex quantitative concepts and models.
  • Good communication skills, particularly in presenting technical results to senior executives and non-technical audiences.
  • Ability to work independently with excellent project management skills and ability to juggle multiple urgent priorities.
  • Creative problem-solver, particularly in areas with very little clarity or precedence.

@!*!Prudential 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 companys 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 is not accepting unsolicited resumes from search firms for this open position unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. All resumes submitted by search firms to any employee at Prudential via-email Internet or directly to hiring managers in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential and no fee will be paid in the event the candidate is hired by Prudential.
Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. Prudential has established and regularly maintains a preferred vendor list and even preferred vendors need to have a written search agreement signed by the Director Recruiting Programs Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.
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Posted: 2020-05-08 Expires: 2020-08-07

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Senior Actuarial Associate - Pension Risk Transfer - INT000IQ

Newark, NJ

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10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

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