Director Actuary; Pension Risk Transfer Prudential Chicago

Job description
The Director, Pension Risk Transfer - Product Actuarial will partner with the Global Longevity Transaction Lead to act as a single point of contact for Actuarial activities in support of Prudential's Longevity Risk Transfer (LRT) efforts, which is the international component of Prudential’s rapidly growing Pension Risk Transfer business.

This individual will facilitate the bid process and lead the actuarial team’s preparation for discussions with market intermediaries and counterparties on certain live transaction opportunities focusing on benefits, data, and liability modeling, and will also participate in transaction closing and on-boarding activities.


Position Responsibilities Include
Provide an analysis of pension plan provisions and proposed deal structure as part of the pre-sales process, identifying any new or unusual risks as well as specific deal features that present pricing, on boarding or implementation challenges
Review client Request For quotations documents and ensure that the Business, Underwriting, Pricing and Administration teams interpret these documents correctly and consistently
Work with the Pricing team to independently replicate Pension and Annuity cashflows using the Best Estimate assumptions along with all reserving and capital scenarios in order to validate the liabilities used in our pricing models
Provide review and signoff of Term Sheets and draft/review legal document language relating to the benefits characteristics that underlie our premiums and fees
Actively engage as a member of the transaction team from initial evaluation and quotation, through the on-boarding process
Manage and take ownership for the development of one actuary
Act as the initial point of contact between the PRT Actuarial and the head of longevity risk transfer
Engage with the Underwriting team to complete annual cashflow repricing efforts to support our inforce book of business
Bachelors Degree
Minimum 5 years of actuarial work experience in Retirement and/ or Insurance
Actuarial credentials strongly preferred
Experience with non-U.S. pension plans a plus
Demonstrate significant analytical skills
Demonstrate excellent written and verbal communication skills
Ability to work independently and also to collaborate with multiple teams on complex transactions
Willing and able to travel 5 percent, domestically and internationally
Strong Microsoft excel and word skills

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