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Prudential

Prudential

Vice President & Actuary

Vice President & Actuary

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Job Details
""
Uploaded On
August 4, 2023
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Location
Newark, United States
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Remote?
No
Salary
$
176
k-$
238
k
Glassdoor Ratings
""
Recommend to a Friend
69%
""
Overall Score
3.8 / 5
[ Job Classification:
Actuarial - Actuarial

Insurance Risk Management collaborates across the enterprise to ensure that Prudential has a comprehensive understanding of the insurance risks (e.g., mortality, longevity, morbidity, and policyholder behavior) embedded in and across its businesses, enabling the Company to manage risks effectively and evaluate current and future risk challenges and opportunities.

This role will lead Insurance Risk Management, reporting to the Head of Insurance and Assumption Risk. This team is responsible for insurance risk reporting and monitoring across all of Prudential's business units, research and modeling of insurance risk drivers, as well as various ad hoc work to support senior management understanding of the Company's insurance risk profile and tools for managing exposure.

Responsibilities include:
  • Maintain, enhance, and deliver robust reporting for insurance risks to senior management (including the Board), rating agencies, and regulators (including the Insurance Risk-Adjusted Capital process)
  • Analyze and develop recommendations on the firm's insurance risk appetite, risk limits, monitoring of exposure, and the related governance thereof
  • Work closely with the Actuarial function (including the Chief Actuaries of the insurance businesses), Finance, Treasurers, and Technology to identify and capture these risks
  • Provide input into new business, product development, and various transactions and initiatives to ensure insurance risk considerations are made transparent to decision-makers
  • Coordinate with other risk stripe teams within ERM (including market risk, investment risk, and model risk) to provide comprehensive risk management coverage to the enterprise
  • Represent insurance risk in global advocacy discussions including International Capital Standard (ICS), Bermuda regulatory capital, and rating agency capital models.
  • Oversee and direct the development / definition of insurance risk stress scenarios
  • Manage research and modeling into biomedical risk drivers including mortality, longevity, and morbidity
  • Enhance the enterprise-level understanding and appreciation of policyholder behavior risks and propose risk management solutions relative to the behavioral risk profile
  • Collaborate with Assumptions Oversight team to highlight the relationship between assumption updates and the emergence / recognition of insurance risk
  • Support BU-specific, company-wide, and/or ERM-specific special projects as they arise


Qualifications

  • Fellow of the Society of Actuaries designation (FSA) required
  • Strong analytical capabilities with ability to apply analytical/critical thinking background to new situations
  • Extensive experience with mortality and policyholder behavior for variety of insurance company products
  • Knowledge of capital markets a plus
  • Strategic, creative, and broadly focused thinker
  • Proven leadership experience
  • Strong oral and written skills
  • Demonstrated ability to influence business partners
  • Effective interpersonal skills and highly skilled in collaboration since this role will require constant interaction with business unit contacts and functional partners
  • Conceptual thinker that is able to collaborate effectively and drive the team independently as a leader
  • Detail oriented and analytical
  • 10+ years of broad insurance experience


Note: 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 $175,500.00 to $237,500.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. 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. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

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

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 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.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

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.

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance. ]
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Working at 

Prudential

Prudential Financial, Inc. is a global financial services company headquartered in Newark, New Jersey. Founded in 1875, Prudential has a rich history of providing financial solutions to individuals, families, and businesses. The company offers a wide range of products and services including life insurance, annuities, retirement solutions, mutual funds, and investment management. Working at Prudential means being part of a diverse and inclusive team that is dedicated to helping people grow and protect their wealth. The company values its employees and provides them with opportunities for professional growth and career development. Prudential offers competitive compensation and benefits packages, including health and dental insurance, 401(k) matching, and paid time off. Prudential is committed to making a positive impact on society and the environment. The company has a strong corporate social responsibility program that focuses on community involvement, sustainability, and diversity and inclusion. Prudential also encourages its employees to volunteer and get involved in community service projects. If you are looking for a challenging and rewarding career in the financial services industry, Prudential is a great place to start. The company values teamwork, innovation, and integrity, and is always looking for motivated individuals who are passionate about helping others achieve their financial goals. Whether you are an experienced professional or just starting your career, Prudential provides a dynamic and supportive environment where you can grow and succeed. Overall, Prudential is a company that is dedicated to its customers and employees, and is committed to making a positive impact on the world.