Director - Actuary - Prudential - Newark

Job description
A new area, the Actuarial Transformation Office, is being created to assess and oversee the actuarial systems architecture to help meet Prudential’s reporting needs due to the evolving regulatory frameworks. There will be several positions at different levels in this new organization. The director positions will report to a Vice President in the Actuarial Transformation Office and will work to enhance /establish the infrastructure supporting Actuarial systems and processes. The candidate will be expected to partner with Actuarial management, Enterprise Financial IT and the business units to create Actuarial solutions that meet Enterprise reporting requirements. Strong communication, analytical and collaborative skills are required. Specifics regarding this position include:

• Transforming strategy into action by implementing best practices for actuarial applications across the business units, with an initial focus on domestic financial reporting.

• Partnering with business unit and actuarial leaders to influence and respond to evolving regulatory frameworks (i.e., SIFI, Principles Based Reserves, FASB/IASB Insurance Contracts, ORSA, FIO, etc.)

• Engaging with industry organizations, consultants and other experts to understand emerging trends to ensure Prudential’s infrastructure and processes meet or exceed standards

• Working with the new Regulatory Coordination Office to analyze and influence emerging requirements to ensure the ability to meet new requirements

Desired Skills and Experience
The Director is expected to be an Subject Matter Expert (SME) in one or more of the functions listed below (note: typically, a SME would need at least 3 years of experience in the function in one business unit):

Pricing: Experience in designing, building/modifying/testing pricing models (in-house or vendor)

Reserving: Experience in designing, building/modifying/testing reserve model (in-house or vendor)

Asset Adequacy Testing: Experience in designing, building/modifying/testing asset adequacy models (in-house or vendor)

• Ability to facilitate collaborative efforts to improve team efficiency and effectiveness
• Ability to partner with peers and cross functional teams to develop vision and execute on a long term, nimble, and comprehensive actuarial infrastructure
• Experience in Financial and Risk Management including audit, SOX, controls, etc. is helpful
• Experience working on a large scale, joint Actuarial / IT project is a plus
• FSA a plus
• Newark location preferred or ability to travel frequently to Newark

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