COMPANY NAME:
Prudential
JOB TITLE:
Director, Actuary
DESCRIPTION/RESPONSIBILITIES:
The individual will be part of the Individual Annuity Hedging team in the
Actuarial unit of Prudential Annuities, which is responsible for the analysis
and updating of key liability measures for variable annuity capital market
guarantees to facilitate the hedging of these risks.
This position will
serve in Individual Annuity Hedge team's valuation group where the team is
responsible for providing the analysis to support the modeling of the hedging
strategy for cash flow testing, RBC C3 Phase2, Economic Capital (EC) and
planning. Also, we are responsible for providing the monthly GAAP FAS157
embedded derivative liability values and daily key liability measurements for
hedging needs. The unit plays an important role in the product development
process for variable annuities by providing analysis and option costs for new
variable annuity capital market guarantees being considered. This position
will take valuation lead in Prudential's Pru Inside initiative, which offers
lifetime income benefit in the form of annuity through investment vehicles.
This role's primary responsibilities will be formulating the valuation
assumptions for this block of business, providing hedging analytic supports,
and partner with the technology solution team to implement valuation
infrastructure. This position will report to VP of hedging valuation.
This
is an exciting opportunity for this position to take a leadership role and
have an influence on the development of the hedging program and hedging
strategy.
REQUIRED SKILLS:
·
FSA designation
·
5-7 years of actuarial experience
·
Experience of capital market, annuity and investment products
·
Experience of variable annuity valuation and/or hedging
·
Strong quantitative and analytical skills
·
Creative problem solver
·
Prior experience with MG-Hedge or similar actuarial modeling
software would be helpful
·
Must be able to work equally well independently and in a team
environment
·
Must be willing to quickly develop in-depth knowledge of the
product designs and optional benefit features as well as capital market
instruments (options, swaps, futures, etc.) and hedging concepts
Other Comments:
This position requires an individual with both strong modeling and project
management skills that is able to work on new projects with little guidance.
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