- Newark, NJ
EMPLOYER : The Prudential Insurance Company of America
TITLE : Associate Actuary
LOCATION: Newark, NJ
DUTIES: Responsible for independent model reviews and testing of models. Responsible for research of relevant regulatory and model risk frameworks, underlying products, assumptions and methodologies. Design appropriate model review activities. Build independent challenger models and other analytical tools as needed. Perform model output analytics. Draw appropriate conclusions on items for review. Appropriately categorize review findings. Create a comprehensive model review report. Manage and serve as a resource for junior associates. Employ risk management strategies when evaluating models. Support internal efforts to continuously improve Model Risk Frameworks for Prudential. Develop and maintain model risk management frameworks. Assist and educate teams of all Prudential products on topics related to regulatory and model risk frameworks. Collaborate with business and corporate leaders to ensure that models are in compliance with Enterprise Risk Management Standards. Engage key business partners and corporate stakeholders in a large matrix organization. Develop and enhance analytics for better communication of results to management and stakeholders. Maintain adherence with appropriate corporate governance, controls, and documentation policies/procedures.
REQTS: Bachelor's degree or foreign equivalent in Actuarial Science or a related field plus four (4) years of experience in the position offered, Actuarial Associate, or a related position. Must have four (4) years of experience with: Model Development, Implementation and Validation including operating with actuarial and finance models; reviewing model documentation, process, inputs, and outputs; Database development and maintenance; Liability and asset assumption setting, updating, and testing; Actuarial and financial forecasting including liability and gains/losses forecasting; Actuarial and financial valuation and reporting; AAT and statutory reporting including actuarial memos, statutory reserves, and state regulations; Insurance products including Term Life, Traditional Life, Universal Life, Guaranteed Life, Variable Universal Life, and Indexed Universal Life; Insurance products from different business units including Individual Life, Group Life, Disability and Long-term Care, Retirement, Annuity, and Closed Business; US and international Accounting standards including US Statutory and GAAP reporting; Performing modeling and model validation tasks with platforms including GGY AXIS; MG-ALFA; Prophet; and VBA.
HOURS : Full time; Mon- Fri (37.5 hours/week)
APPLY : Apply by clicking "Apply" below and following instructions to submit resume.
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