Director - Actuary - Prudential - Newark

Job description
Corporate Actuarial is seeking a Director and Actuary to be a key player of the Actuarial Model Shared Services team. This position will report to Vice President & Actuary, Actuarial Model Shared Services.

Corporate Actuarial recently established a model governance function to lead the development and implementation of domestic actuarial areas’ compliance with the new Enterprise Model Risk Management Policy and related standards.
In addition, this function will support domestic actuarial areas to ensure cohesive and integrated approaches in evaluating actuarial risks across multiple lines of products as well as actuarial applications (i.e., pricing, valuation, business planning, and capital /risk management). The Actuarial Model Shared Services team is one of the three teams created for this model governance function. The other two teams are Governance & Administration team and Technical Documentation team.

The incumbent will work closely with business group actuarial, Corporate Actuarial, and Enterprise Risk Management. This newly created function is the key to the first line of defense to ensure that the actuarial models are developed, maintained, and used appropriately to analyze insurance and capital market risks.

Responsibilities
Collaborate in the Enterprise Risk Management (ERM) and Corporate Actuarial model governance plans. Support the interpretation of the ERM’s policy and standards into feasible Standard Operation Procedures (SOPs) and guidelines.
Lead and execute in the model development, model testing, and independent model review. Support domestic actuarial groups to comply with model governance requirements.
Participate in Model Network to enhance the communication in the modeling community and leverage best practices.
Coordinate with Actuarial Process & Technology group to recommend solutions to improve the model operation efficiency and consistency
Provide technical model training for domestic actuarial groups
Research innovative modeling approaches to enhance the model capabilities and control
Coordinate with other Corporate Actuarial functions to ensure consistency on modeling related issues

Desired Skills and Experience
Fellow of the Society of Actuaries designation (FSA) or near FSA, with at least 7 years of actuarial modeling experience
Highly motivated, conceptual thinker who is able to work effectively in a wide variety of assignments
Ability to partner effectively with colleagues across multiple business groups and corporate areas
Strong quantitative and analytical skills
Excellent oral and written communication skills
Exposure to multiple lines of business
Experience in actuarial modeling systems and programming software such as GGY Axis, ALFA, PolySystems, SQL, C++, and VBA.
Knowledge of practices related to pricing, valuation, risk management, and insurance accounting

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