Senior Actuarial Associate

3 months ago

Newark, United States Prudential Financial, Inc. Full time
Job Classification:
Actuarial - Actuarial

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading financial services institutions

The U.S. Pension Risk Transfer (PRT) market presents a significant global growth opportunity for Prudential Retirement. Prudential has positioned itself as a leader in this market and continues to expand resources focusing on the challenges faced by plan sponsors in managing a pension plan. Prudential has participated in this market for nearly 100 years and led the new era of Pension Risk Transfer, closing market-defining transactions with GM and Verizon that transferred $33B of pension obligations to Prudential in 2012. The market has continued to expand since that time and Prudential continues to be the market leader.

Pension Risk Transfer is responsible for manufacturing and administering the institutional insurance products that play an important role in the management of defined benefit plans. As part of our strategic focus on this market, we are looking to hire an Associate Actuary to our New Business Actuarial Support team. The successful candidate will support the VP of the US Pension Risk Transfer New Business Actuarial team, which includes the US pension and retiree medical risk transfer products.

The current employee work arrangement for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.

What you can expect:
  • Analysis of the PRT market, regulatory impacts, and other changes in the retirement arena that inform plan sponsor views of pension risk.
  • Annual compilation and analysis of plan sponsor data to identify top-tier PRT prospects
  • Development and maintenance of pre-approved slides for use in client presentations
  • Development of compelling analytics and illustrative pricing for prospective clients
  • Support of internal business partners by providing actuarial analysis and validation throughout the transaction process
  • Support of PRT Pricing team through:
  • Review and analysis of unique plan provisions
  • Cash flow generation in Proval
  • Valuation of complex payment forms and/or benefit components
  • Validation of large and complex data, and
  • Calculation of premium true-up amounts
  • Supporting development of thought leadership content for marketing purposes


What you'll need:
  • ASA or Enrolled Actuary designation preferred
  • Defined Benefit expertise - deep knowledge of benefit structures, pension actuarial principles and funding/accounting regulations.
  • Minimum 3 years of experience in pensions
  • Outstanding quantitative and analytical skills
  • Ability to work effectively in a fast-paced, results-oriented team environment
  • Experience with actuarial projections and valuation software, preferably ProVal
  • Strong MS Excel and PowerPoint skills
  • Solid written and verbal communication skills.


Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

At Prudential, you can:

Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward.

We're a global organization, full of outstandingly dedicated people who aren't afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose.

What we offer you:
  • 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 and military leave
  • Retirement plans:
  • 401(k) plan with company match (up to 4%)
  • Company-funded pension plan
  • Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs
  • Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
  • Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
  • Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.


To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

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 $97,300.00 to $144,900.00. 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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