Posted in Science 18 days ago.
Location: Newark, New Jersey
Prudential Financial, Inc. is seeking a Senior Actuarial Associate for the Group Insurance Actuarial Pricing team supporting association groups. This position is externally focused and collaboration will be critical for success. A successful candidate will demonstrate strong communication and technical skills with an attention to detail and be able to collaborate successfully with associates in Group Insurance Finance, Financial Underwriting, Medical Underwriting, Distribution, Product Development, Claims, Reporting and Information Technology as well as other members of the Actuarial staff to achieve optimal results.
The primary responsibilities of this position include:
• Develop and maintain financial analysis requested by associations’ key contacts and/or their brokers, benefits consultants and actuarial consultants including a large association client that is Prudential’s largest single source of revenue.
• Analyze actual to expected experience to develop and maintain Group Level Premium Term insurance rates.
• Provide timely case-level pricing support for our largest association client and other groups such as financial impacts of benefit changes and evidence of insurability changes.
• Support association product innovation with cost benefit analysis of group insurance product features and services.
• Collaborate with key business partners to identify and incorporate each group’s unique risk characteristics in benefit design, assumption development, and rating methodology in the interest of maximizing long-term profitability.
• In alignment with Actuarial of the Future initiatives, recommend at least two process improvements per year.
• Conduct peer reviews and pricing impact analysis of assumption updates.
• Test and ensure accuracy of pricing model updates using GGYAXIS software.
• Comply with internal and external regulatory requirements including Oklahoma state filings.
• Bachelor’s degree in Actuarial Science, Mathematics, or related fields.
• 3 or more actuarial exams preferred.
• 1 or more years of actuarial experience preferred.
• Strong team player, willing to perform in roles that assist as well as lead.
• Strong communication skills to explain complex concepts to non-actuarial business partners.
• Superior technical skills and ability to understand complex quantitative concepts and models.
• Programming experience including Excel, Visual Basic, SQL or Actuarial modeling software (Python, R, Julia, GGY Axis) preferred.
Team meetings with virtual connections expected to be held in Newark, NJ.
*Note: Prudential is required by Colorado law to include the salary range for this role when hiring a Colorado resident.
Salary range specific to Colorado:$86,200 to $122,400 + discretionary incentive bonus + 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 firstname.lastname@example.org for more information about doing business with Prudential.
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