This position is located in Bermuda.
Pramerica Services Company Bermuda, LTD., a wholly owned subsidiary of Prudential Financial Group ("PFI", fortune 500 Company), is seeking a skilled and highly motivated individual to fill a newly created Associate Actuary position.
The associate actuary will be a key contributor in the regular rate-setting processes for flow business coming into the affiliate insurance companies, Gibraltar Re and Lotus Re. Lotus Reinsurance Company Ltd. (“LotusRe”) is a wholly-owned subsidiary of PFI, established to expand PFI’s presence in Bermuda and assume risk from PFI’s US businesses. Gibraltar Reinsurance Company Ltd (“GibRe”) is a sister company focused on the risk from PFI’s Japan business. Both companies are committed to delivering improved economic outcomes for certain products and liabilities, guided by our principles of stakeholder focus and dedication to policyholder outcomes
What you can expect:
Support decision-making on new transaction opportunities by helping build the pricing capabilities and using that to carry out baseline and sensitivity analysis to determine appropriate transaction structures and prices.
Collaborate and engage with key stakeholders to ensure appropriate development and application of reserve / capital methodologies, investment and ALM choices, and other assumptions.
Help create and improve the ability to track actual to expected impacts for new transactions and inforce blocks.
Enhance actuarial pricing processes to improve efficiency and productivity while following actuarial models’ validation, maintenance and risk management requirements.
Support corporate model governance process, including model registration and affirmations.
Contribute to the creation, documentation, and registration of assumptions in collaboration with the assumptions team, along with attributing the impact of any assumption updates.
What you'll need:
Bachelor’s Degree
4+ years of related work experience
Associate of the Society of Actuaries (ASA) or similar
Working knowledge and analysis of financial statements (Income Statements, Balance Sheet) and experience with international accounting frameworks and/or reinsurance.
Demonstrate ability to understand and apply technical aspects of external regulatory, capital and solvency requirements
Demonstrate ability to perform technical actuarial calculations, analyze and synthesize the results and communicate to others effectively
Self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
It would be a plus if you had:
Experience with ALM
Familiarity of Bermuda EBS reserve and capital framework
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
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, some of which may not be available in your area.
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, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.