Prudential
Director, Actuary (Capital and IFRS ~ International Insurance) (Information Technology)
For more than 140 years, Prudential Financial Inc. has helped individual and institutional customers grow and protect their wealth. Today, we are one of the world's largest financial services institutions with operations in the United States, Asia, Europe, and Latin America. We also have one of the most recognized and trusted brand symbols: The Rock®, an icon of strength, stability, expertise, and innovation. 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, Italy, and Ghana). Eight local operations under PFI are implementing IFRS 17 insurance contract from 2021 to 2025. PII is looking to fill a new Director position in the Actuarial department in Newark, New Jersey. The Director, Actuary position is responsible for taking lead or support roles in various IFRS 17 implementation related projects around the globe. This may include IFRS 17 methodology impact analysis, opening balance sheet and product financial impact analyses, IFRS 17 income statement prototype, and various implementation support. This role will also provide actuarial support to various internal and external deal type projects, including M&A. This position is highly visible and strategic, and plays a key role in PII Actuarial by partnering with the local operations, various enterprise and domestic counterparties. This position will report to the team lead of Capital and IFRS unit. Primary responsibilities include ? Lead or support building a globally repeatable process, analytics and tools for various IFRS 17 prototype analyses such as IFRS 17 methodology testing, balance sheet and income statement impact analysis, product and profitability analysis ? Support international operations on methodology training and interpretation, IFRS 17 analysis utilizing the globally standard package and models, and support other infrastructure build initiatives ? Lead or support the Prophet ALM and IFRS 17 implementation for various PII jurisdictions such as Korea, Malaysia, and Brazil, etc. ? Develop projections under various regulatory regimes and company internal frameworks to evaluate and support internal and external transactions ? Work closely with other business partners including Finance, Operations, Corporate M&A department and external consultants to develop actuarial valuations/projections, and to support transactions in general ? Act as the subject matter experts within PII for emerging new regulation regimes or market consistent framework such as IFRS 17, IAIS ICS and Solvency II like local regulatory capital and valuation frameworks such TEV and MCEV
? Strong actuarial modeling experience in valuation and projection in an open coding system ? Broad experience in Prophet is highly preferred; Prophet ALM modeling experience in ALS library is highly desired but not required ? Strong financial modeling knowledge and experience ? Strong quantitative and analytics skills, including the ability to understand concepts and assess situations in a timely manner ? Knowledge of economic and risk based solvency regimes (e.g. Solvency II and IAIS ICS) and the latest developments in accounting principles e.g. IFRS 17 and US GAAP targeted improvement is a distinct advantage ? Broad understanding and relevant experience with Life and/or Annuity products ? Dedication to completing work thoroughly and on time under time pressure ? Strong written and verbal communication skills ? Strong project management and execution skills ? FSA with 5+ years of actuarial experience is required, CFA or FRM a plus ? Experience and knowledge of insurance markets in Asia and Latin America is a plus ? Minimal travel may be required (< 25% of time)