Job Classification: Actuarial - Actuarial
At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading financial services institutions!
The executive will report to the VP and Actuary, Corporate M&A Actuarial head responsible for actuarial aspects of modelling and due diligence for acquisitions and divestitures of the enterprise. This is a highly visible role collaborating with team members working across multiple stakeholder groups.
The current employee work arrangement for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.
What you can expect:
Prudential’s Corporate Mergers & Acquisitions Group reports directly to Prudential's Chief Financial Officer and is responsible for the acquisition and divestiture activities across all of Prudential's businesses, including insurance and asset management, in the United States and abroad. Since its inception in the late 1990's, the group has closed more than 70 transactions with aggregate value in excess of $15 billion. The group is also responsible for sourcing acquisitions as well as select strategic analyses.
Specifically, this executive will be devoted to actuarial aspects of transactions including modelling performed either externally with actuarial consultants or internally across Prudential’s International and U.S. entities:
- Day-to-day project management of actuarial aspects of project
- Development of projections under local statutory, Purchase GAAP and US GAAP accounting frameworks.
- Working closely with Corporate M&A department, development of company valuation including actuarial appraisals
- Perform actuarial and related due diligence covering reserve adequacy, product and pricing evaluations, determination of appropriate assumptions, reinsurance programs, evaluation of existing models, actuarial appraisals
- Manage external consultants as needed for valuation and due diligence
- During inactive M&A periods, there may be work on special actuarial, initiatives and reinsurance transaction projects.
What you’ll need:
- Bachelor's Degree required and fully qualified actuary with FSA, FIA or related designation with 12+ years of experience required.
- M&A transaction-related experience, reinsurance and or new initiative modelling experience at a consulting firm, insurance company or investment bank.
- Broad and detailed knowledge of various valuation methods for insurance companies, product pricing, modelling and Purchase GAAP and statutory reserve valuation methods across wide set of individual, Group, Accident and Health and pension products.
- Strong knowledge of US Statutory, US GAAP, Solvency II and IFRS accounting methods.
- Experience and knowledge of major global insurance markets preferred.
- Dedication to completing work thoroughly and on time under time pressure.
- Strong hands on financial modeling skills with various modelling platforms and systems.
- Proven track record of being a strategic thinker, creative, innovative, and execution focused turning ideas into measurable meaningful results.
- Strong written and verbal communication.
- Extensive experience and success in developing a collaboration, building relationships and influencing executive level leadership as well as securing broad organizational support across Business Partners, Corporate Functions (M&A department, Corporate Actuarial, Finance, Investments, ERM) and external advisors (consultants, Investment bankers).
Some travel required within U.S. and Internationally.
Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
What we offer you:
- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- Retirement plans:
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $195,100.00 to $263,900.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
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