Additional Information
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!
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, 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.
The Director, Association Actuarial Pricing will primarily be responsible for working with product, pricing and financial underwriting teams promoting new product and pricing initiatives to continue the growth and maintain the profitability within Prudential Group Insurance's Association team with products, including Basic Life, Optional Life, Group Variable Universal Life, Accidental Death & Dismemberment, Short Term Disability, Long Term Disability, Critical Illness, Hospital Indemnity, Accident Insurance and Medical Stop Loss. Specific activities will include development of pricing methods, support for product development, case level pricing and underwriting consultation, and thought leadership for pricing and product strategies for associations, unions, credit unions and other non-employer-based groups.
The individual in this role will have to be a strong collaborator and relationship builder as this role interacts with Group Insurance Account Management, Association Sales, Finance and Actuarial, Group Insurance and Individual Life Product, Financial Underwriting, IT, Group Insurance Law, GUL/GVUL Customer Service, Medical Underwriting and Claims. This position will report to the Vice President & Actuary responsible for Association Actuarial Pricing.
The current employee work arrangement for this position is hybrid or virtual and may require your on-site presence on a reoccurring basis as determined by your business, dependent on the candidate's location. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.
What you can expect:
This role is a key stakeholder in Prudential Group Insurance's strategy to grow premium from non-employer groups, working closely with Account Management, Association Sales, Financial Underwriting, Product, and Law partners.
Submit actuarial memoranda for state filing to qualify non-employer groups and to extend previous rate filings to new contract forms
Determining when to update and completing experience studies for our largest client as well as developing experience study methodology for other clients as experience is built over time.
Advise management of the expected impacted to association groups of any Group Insurance assumption updates
Drive process improvements and transformation of technology to gain efficiency and accuracy while working with other teams we partner with in Group Insurance
Interpret up to 88 Group Long Term Care rerate state filings and provide technical guidance for the annual rate increase implementation
Owner of GGY AXIS model for Group Life Insurance
Annual review of Group Variable Universal Life prospectus for accuracy, completeness and not misleading
Provide technical guidance in the development and/or enhancement of new products, including assumption development, understanding reserve and capital requirements, modeling, and pricing, etc.
Pru · Newark, NJ