Job Description
The Corporate Actuarial Department (CAD) supports the Chief Actuary, whose duties include certifying the adequacy of Statutory reserves; review and oversight of actuarial balances in GAAP financial reporting; review and oversight of pricing, experience studies, dividend setting, and reinsurance; monitoring industry and regulatory developments; leading special projects; and making regular presentations to the Board of Directors. Each member of the department has the opportunity to contribute to many of these activities.
CAD seeks an individual to lead the economic assumption review committee and asset cash flow production team. CAD is responsible for developing a comprehensive set of economic assumptions that are used for Statutory, GAAP, Pricing and Capital Management work throughout the company. In addition, CAD centrally models Prudential's fixed-income asset holdings and certain derivatives to support cash flow testing, capital testing and other special projects. These two activities are critical elements in Asset Adequacy Testing, GAAP reporting activities, and capital management testing. The associate will:
· Lead the development of economic assumptions for Statutory, GAAP, Pricing and Capital Management
· Serve as Economic Assumption Review Committee leader by developing assumption proposals, leading the committee meetings and ensuring assumption approvals are documented appropriately
· Develop relationships with business partners in investment reporting, ALM, and other related investment areas, including Treasurers
· Serve as CAD's subject matter expert in the assets Prudential invests in. Understand how those assets should be projected to create expected cash flows and how those assets are reported in the statutory and GAAP balance sheets.
· Responsible for preparing asset related language for statutory actuarial memoranda and for responding to regulatory questions related to assets and investment assumptions used in Asset Adequacy Testing.
· Supervise a staff of 2-3 responsible for preparing asset cash flows
· Participate in CAD's projects to enhance the asset cash flow process
The associate may also participate in other CAD activities, such as
· Quarterly GAAP reporting
· Annual statutory reporting activities
· Experience study reviews
Desired Skills & Experience
Requirements:
· 5-10 years of investment or actuarial experience
· Knowledge of fixed-income and derivative assets required
· Ability to represent CAD and interact effectively with internal business partners and external business partners, such as vendors and consultants
Other Qualifications:
· B.A./B.S. in Mathematics or other quantitative field
· Experienced quantitative background, and experience in a field such as statistics, economics, business finance, accounting or computer science is a plus
· CFA or ASA preferred
· Experience using Microsoft Excel, Access, and VBA preferred
· Strong leadership, problem solving, and communication skills
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Email: jobs@aarenconsultants.in
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