The Senior Actuarial Associate, Pricing & Product Development
, is a position on the pricing team within our Ireland based International Reinsurance area. You will play a key role in the overall pricing execution and infrastructure development of Prudential Financial Inc's rapidly growing Longevity Reinsurance Business. You will be involved in pension risk transfer pricing and instrumental in navigating new deal opportunities. This will range from analyzing a deal's liability characteristics and mortality experience, to collaborating with various stakeholders across the business.
Primary responsibilities include:
- Analyze plan specific experience data to determine mortality and other demographic assumptions to be used as the underwriting basis.
- Generate assumptions, financial projections and evaluate international reinsurance transactions.
- Determine fee that should be charged for accepting longevity reinsurance risk.
- Mine and scrub complex pension plan datasets.
- Improve tools, analytics, or processes used within the team.
- Work with a broad group of actuarial and business partners in a fast-paced, collaborative, customer and deal-focused environment.
The role will have include supporting our Longevity Reinsurance flow solution for sub GBP300M transactions, where responsibilities will also include:
- Analyze materials provided by the pension plan to the front-end insurer, to establish benefit design and data characteristics.
- Cleanse, sew together and update pensioner data.
- Prepare simplification and transaction models to generate reinsured cashflows and fees.
- Consolidate findings with those provided by front end insurer and reconcile any differences.
- Update pricing and underwriting parameters every 6 months.
- Help maintain and improve our models.
Working at PGIM
- Bachelor's degree required, preferably in Actuarial Science, Mathematics, Statistics, or other highly quantitative field (e.g. Engineering).
- Substantial progress towards attainment of the Associate of the Institute and Faculty of Actuaries designation. At least two years' prior actuarial work experience.
- Strong working knowledge of Excel and VBA macros.
- Exposure to or willingness to learn programming languages such as SQL and Python.
- Ability to understand complex quantitative concepts and models.
- Strong communication skills for effective collaboration with our US and Ireland based associates and our UK clients.
- Highly motivated, innovative, and creative problem solver and conceptual thinker.
- Fast learner and ability to work in a multi-functional, multi-country dynamic team environment.
In joining PGIM you'll be working in an organisation where your work and efforts are recognised and you will be encouraged and enabled to develop and succeed. Employee Benefits include:
- Health Insurance
- Defined Contribution Pension Scheme
- Hybrid working environment
- Employee wellbeing programmes
- Tuition Reimbursement and access to online learning platforms (Actuarial exam support is provided)
- Employee recognition programme
- Excellent work-life balance
Diverse ideas, perspectives and people are the foundation of PGIM's enduring success. By promoting an equitable workplace and a welcoming and inclusive environment, we nurture a "low ego" culture that allows all employees to bring their authentic self to work and to harness our collective intelligence for the benefit of our clients. If you are an out of the box thinker and like to work in small teams within a flat organization, we look forward to receiving your application.
-PGIM Ireland is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants' gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. PGIM Ireland's aim is to hire the best people for the open roles and all appointments will be made on merit.
Any offer of employment made by PGIM Ireland will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within PGIM Ireland.
PGIM Ireland has been awarded the IBEC Keep Well Accreditation Mark, this is in recognition of our commitment to making our employees wellbeing a priority.