Associate Actuary; Hybrid

Position: Associate Actuary (Hybrid)
## Associate Actuary (Hybrid)
Apply locations:
Newark, NJ, USAtime type:
Full time posted on:
Posted 30+ Days Agojob requisition :
R-122584

Job Classification:

Actuarial - Actuarial The Methodology and Modeling Team within the Prudential Retirement Strategies (PRS) Actuarial Group is seeking an Associate Actuary. The team is responsible for developing and refining pricing methodology / framework and managing the development and testing of a spectrum of pricing models that provide critical support to product innovations, pricing / rate setting, and risk analytics.

This role will be a part of the Methodology sub-team and plays a critical part in leading cross-functional initiatives between the retail annuity and institutional retirement businesses. The position will be responsible for developing sound methodologies, creating innovative solutions, and testing/comparing capabilities of Prudential’s multiple pricing models across various platforms (MATLAB, Python, GGY-Axis, etc.).This individual will work closely with other members of the methodology team, model development teams and pricing teams during the various model development life cycles (MDLC), as well as collaborate with Actuarial Model Control (AMC) and Model Risk Management (MRMG) to ensure compliance to model risk governance requirements.  

Additionally, the individual will be actively engaged in other methodology, framework and R&D projects to support various PRS and enterprise initiatives.
** What you can expect:
*** Design, refine and manage the model testing and control processes; incorporate best practices and continuingly improve the effectiveness and efficiency of the processes.
* Lead on execution of testing initiatives, including managing testing resources and timelines, prioritizing work streams, conducting rigorous testing and review, and developing comprehensive testing results documents.
* Interact closely with model developers to share testing findings, provide feedback / suggestions, and ensure identified issues are addressed properly. Coordinate with model users for adequate UATs.
* Collaborate with AMC and MRMG to ensure compliance to the model risk governance requirements.
* Proactively drive methodology refinements and technology advancements to generate enhanced modeling capabilities by conducting innovative research.
* Collaborate with the Modeling, New Initiatives and Pricing Teams to provide support for Business Unit/Enterprise initiatives, such as new methodology for product innovations or pricing framework changes, ALM risk analysis, required capital framework.
** What you'll need:
*** 4-5 years of actuarial experience or equivalent experience in a similar quantitative financial field; knowledge in retail annuity and institutional retirement products is desirable
* Strong quantitative modeling and analytical skills; understanding of financial instruments and asset liability risk management preferred
* Solid programming skills (e.g., VBA or other programming languages);

Experience with MATLAB, Python, and predictive modeling / machine learning is a big plus
* Strong project management skill; strong execution with attention to detail
* Good verbal and written communication skills; able to explain technical concepts to non-technical audience
* Highly motivated individual who can work equally well independently and in a team environment

The current EWA for this position is Hybrid and requires on-site presence on a reoccurring basis as determined by the business. We will provide additional details relative to the specific number of days you are expected to be on-site.#LI-HYBRID#
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* What we offer you:

**# 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 $ to $. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
* ** Market competitive base salaries, with a yearly bonus potential at every level.**
* ** Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental…