Job Classification:
Actuarial - Actuarial
The Annuity Calculation Management team is responsible for all technical aspects of annuity product initiatives and ongoing management of the current annuity product portfolio. This person has accountability for ensuring delivery of these products aligned with actuarial guidelines, SEC and insurance regulations. This will include collaborating with legal, compliance, and government affairs to drive adoption of existing regulations and formation of new regulations where required. This person has demonstrated the ability to collaborate effectively and deliver results. This person is recognized within the organization as a product and calculation expert, and will be responsible for participating in industry groups, reacting to new and proposed regulations, and assisting teams in timely resolution of state insurance reviewer product objections.
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Duties and Responsibilities by Function:
- Drive regulatory change with our legal, compliance, and government affairs areas to accommodate new product designs which may not have existing or adopted regulatory guidelines
- Provide on-going actuarial and regulatory knowledge and creative problem resolution within Product and to business partners across the organization for new and proposed regulations and product designs
- Represent Prudential Retirement Strategies in industry calls (ACLI, LICONY, CAI, and IRI), and lead coordination of responses to new and proposed regulations. Support ACLI Product committee member for Prudential.
- Act as subject matter expert for required actuarial regulatory documents including memorandum, certifications and exhibits as required by state and other regulatory bodies for new product development and in-force product management as part of Annuity Calculation Management.
- Represent Annuity Calculation Management in the analysis of actuarial regulations during all phases of the Product Development process Demonstrate product/rider and technical expertise across Prudential annuity products
- Ensure that calculation and output meet regulatory requirements through modeling of the product and scenario mechanics
- Act as Product point person for review of all regulatory alerts and ensure understanding and action across the Product teams.
- Review all contract forms and prospectus information, if applicable, to determine readability and consistency with product specifications.
Qualifications:
- Bachelor's Degree
- FSA preferred
- Excellent verbal and written communication/presentation skills
- 2+ years of experience in assessment of new regulations, working with industry groups
- 3+ years of experience with Actuarial Regulatory support for contract filings (actuarial memos, nonforfeiture demonstrations)
- 5+ years of experience in financial services product support or product management
- Approach work with intellectual curiosity and transparency with an openness to giving and receiving feedback
- Self-motivated, proactive and visionary leadership, thinking beyond functional responsibilities to broader business strategy
- Highly organized, collaborative, creative, and adept at handling multiple, changing priorities where creative solutioning is required
- Skilled at resolving conflict and negotiating effectively and tactfully
- Proven strong attention to detail and follow-through skills
- Strength of convictions and ability to influence and champion product changes
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 $148,800.00 to $201,200.00. 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.