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Position: Vice President & Actuary
Institution: Prudential Financial, Inc.
Location: Newark, New Jersey, United States
Duties: The successful candidate will have direct responsibility for: Product and Pricing; Ensure financial integrity of pricing for all insurance products; Provide actuarial analyses to understand risks of product design and features, profitability of new businesses and communicate results/analysis to ensure full understanding of profitability metrics. Ensure a cohesive and integrated approach in modeling actuarial risks across all products. Oversee the consolidation and ensure the appropriate and consistent application of US GAAP for inclusion of results in audited financial statements for all actuarial balances prepared by local operations
Requirements: Bachelor's degree required
   
Text: COMPANY OVERVIEW Prudential International Insurance (PII) continues to be one of Prudential's fastest growing and most profitable business groups. PII has operations in eleven countries around the world (Japan, South Korea, Taiwan, Malaysia, India, Chile, Brazil, Argentina, Mexico, Poland, and Italy) and is looking to fill its Chief Actuary, International Businesses position. POSITION OVERVIEW Reporting to the SVP, Company Chief Actuary, and matrix reporting to the Chief Operating Officer, International, the Chief Actuary, International is responsible for actuarial aspects of the international businesses and provides oversight and guidance on all actuarial activities including pricing and profitability reporting, financial reporting, assumptions and acquisitions. Working closely with the executive leadership team for PII, this role will contribute to setting the strategic direction and driving profitable growth of the International businesses. The role will be based in Newark, NJ. KEY ACCOUNTABILITIES The successful candidate will have direct responsibility for; Product and Pricing Ensure financial integrity of pricing for all insurance products. Provide actuarial analyses to understand risks of product design and features, profitability of new businesses and communicate results/analysis to ensure full understanding of profitability metrics. Ensure compliance with enterprise pricing standards, provide guidance on methodologies and review actuarial judgment on assumptions. Lead the International Product Pricing Council, a team of functional leaders that evaluates financial risks on material new products. Advise business leaders on profitability targets. Provide actuarial and financial perspective to help shape the direction of product strategies and product innovation. Actuarial Modeling Ensure a cohesive and integrated approach in modeling actuarial risks across all products. Ensure compliance with enterprise model risk standards. Define overall modeling guidelines and international operating model. Partner with local operations modeling teams to implement robust, integrated modeling platform’s for all businesses. Financial Reporting Oversee the consolidation and ensure the appropriate and consistent application of US GAAP for inclusion of results in audited financial statements for all actuarial balances prepared by local operations. Oversee statutory Valuation and Asset Adequacy Testing of International business ceded to US entities. Business Growth Support acquisition/joint venture initiatives. Support existing operations to expand in new distribution channels and product lines. KEY SUCCESS FACTORS Build the right team Build a team that values organizational success over personal success and works collaboratively to get things done. Attract, align, develop and retain top talent to deliver on team goals and objectives. Set a clear vision and strategy Create an environment that focuses resources on PII’s mission and vision. Communicate strategic context to ensure that people understand what we are doing and why. Establish team vision and leadership climate to maximize and sustain the team’s contribution to financial results. Discontinue efforts not focused on critical business priorities. Drive disciplined, intelligent risk taking Efficiently surface and analyze the pertinent data, and be decisive. Understand the facts - base decisions and actions on data and sound reasoning. Evaluate the impact of decisions on other parts of the business. Push to understand root causes of issues or requests and apply systemic thinking to problem solving and decision making. Execute with discipline and urgency Drives for results, translating strategy into execution. Know your business, and get directly involved when needed to drive results. Manage multiple large, complex projects and/or guide others in project planning and management. Hold self and others accountable for results. Drive change and innovation Create a culture that thrives on continuous change. Inspire people to stretch beyond their comfort zone. Communication and Influence Ask tough questions, challenge and engage leaders in conversation to ensure the right things happen for the business. Help leaders understand business implications of their actions and influence a change in direction as needed. Develop strategic communication plans and ensure effective implementation. Integrate key messages into all communications to ensure people understand how initiatives work together to support business goals. ',' COMPANY OVERVIEW Prudential International Insurance (PII) continues to be one of Prudential's fastest growing and most profitable business groups. PII has operations in eleven countries around the world (Japan, South Korea, Taiwan, Malaysia, India, Chile, Brazil, Argentina, Mexico, Poland, and Italy) and is looking to fill its Chief Actuary, International Businesses position. POSITION OVERVIEW Reporting to the SVP, Company Chief Actuary, and matrix reporting to the Chief Operating Officer, International, the Chief Actuary, International is responsible for actuarial aspects of the international businesses and provides oversight and guidance on all actuarial activities including pricing and profitability reporting, financial reporting, assumptions and acquisitions. Working closely with the executive leadership team for PII, this role will contribute to setting the strategic direction and driving profitable growth of the International businesses. The role will be based in Newark, NJ. KEY ACCOUNTABILITIES The successful candidate will have direct responsibility for; Product and Pricing Ensure financial integrity of pricing for all insurance products. Provide actuarial analyses to understand risks of product design and features, profitability of new businesses and communicate results/analysis to ensure full understanding of profitability metrics. Ensure compliance with enterprise pricing standards, provide guidance on methodologies and review actuarial judgment on assumptions. Lead the International Product Pricing Council, a team of functional leaders that evaluates financial risks on material new products. Advise business leaders on profitability targets. Provide actuarial and financial perspective to help shape the direction of product strategies and product innovation. Actuarial Modeling Ensure a cohesive and integrated approach in modeling actuarial risks across all products. Ensure compliance with enterprise model risk standards. Define overall modeling guidelines and international operating model. Partner with local operations modeling teams to implement robust, integrated modeling platform’s for all businesses. Financial Reporting Oversee the consolidation and ensure the appropriate and consistent application of US GAAP for inclusion of results in audited financial statements for all actuarial balances prepared by local operations. Oversee statutory Valuation and Asset Adequacy Testing of International business ceded to US entities. Business Growth Support acquisition/joint venture initiatives. Support existing operations to expand in new distribution channels and product lines. KEY SUCCESS FACTORS Build the right team Build a team that values organizational success over personal success and works collaboratively to get things done. Attract, align, develop and retain top talent to deliver on team goals and objectives. Set a clear vision and strategy Create an environment that focuses resources on PII’s mission and vision. Communicate strategic context to ensure that people understand what we are doing and why. Establish team vision and leadership climate to maximize and sustain the team’s contribution to financial results. Discontinue efforts not focused on critical business priorities. Drive disciplined, intelligent risk taking Efficiently surface and analyze the pertinent data, and be decisive. Understand the facts - base decisions and actions on data and sound reasoning. Evaluate the impact of decisions on other parts of the business. Push to understand root causes of issues or requests and apply systemic thinking to problem solving and decision making. Execute with discipline and urgency Drives for results, translating strategy into execution. Know your business, and get directly involved when needed to drive results. Manage multiple large, complex projects and/or guide others in project planning and management. Hold self and others accountable for results. Drive change and innovation Create a culture that thrives on continuous change. Inspire people to stretch beyond their comfort zone. Communication and Influence Ask tough questions, challenge and engage leaders in conversation to ensure the right things happen for the business. Help leaders understand business implications of their actions and influence a change in direction as needed. Develop strategic communication plans and ensure effective implementation. Integrate key messages into all communications to ensure people understand how initiatives work together to support business goals. ',' Senior Level Actuary with experience in pricing, actuarial modeling, valuation, assumption setting, financial reporting and M&A. Excellent interpersonal skills and the ability to motivate others in developing a vision to secure broad organizational support. Outstanding analytical, problem solving, presentation, collaboration, negotiation, and oral and written communication skills required. Proven track record of being a strategic thinker, creative, innovative, and execution focused turning ideas into measurable meaningful results. Exceptional relationship building skills combined with a strong cultural awareness of different business environments. Fellow of the Society of Actuaries (FSA) with 20 years of actuarial experience required. Bachelor's degree required, with MBA preferred. ',' Senior Level Actuary with experience in pricing, actuarial modeling, valuation, assumption setting, financial reporting and M&A. Excellent interpersonal skills and the ability to motivate others in developing a vision to secure broad organizational support. Outstanding analytical, problem solving, presentation, collaboration, negotiation, and oral and written communication skills required. Proven track record of being a strategic thinker, creative, innovative, and execution focused turning ideas into measurable meaningful results. Exceptional relationship building skills combined with a strong cultural awareness of different business environments. Fellow of the Society of Actuaries (FSA) with 20 years of actuarial experience required. Bachelor's degree required, with MBA preferred. ','Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand. Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law. Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.','Actuarial','Actuarial','United States-New Jersey-Newark','United States-New Jersey-Newark','','','Full-time','Full-time','Yes, 25 % of the Time','Yes, 25 % of the Time','false','394418','394418','true','394418','false','Submission for the position: Vice President & Actuary - (Job Number: INT000D7)','false','394418','false','true']);
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