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Actuarial Associate (Retirement Strategies)

Prudential
Newark, NJ
Actuarial Associate (Retirement Strategies) Location Hybrid work in Newark, NJ : 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! Prudential has an exciting opportunity for an Actuarial Associate on the STAT valuation team supporting the Prudential Retirement Strategies business. The individual will be responsible for reserve calculations and analysis for multiple product types within Institutional Retirement Strategies including Pension Risk Transfer, Structured Settlements, and Stable Value. The individual will gain an understanding of various statutory reserve concepts including principles-based reserving (PBR), commissioner's annuity reserve valuation method (CARVM), and asset maintenance testing. In addition, the individual will learn about the investment portfolios and asset-liability management practices supporting the business, contribute to process improvements, and support new products and/or initiatives. The current employee work arrangement for this position is hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site. What you can expect:
  • Reporting & Analysis: Timely and accurate delivery of reported results for STAT and internal management reporting purposes. Analyze results and perform attribution to understand changes. Communicate results and drivers to management and business partners.
  • Asset Liability Modeling: Generate asset/liability projections required for principles-based reserving (PBR). Review and analyze model output to identify key drivers and explain results. Test and validate modeling changes and ensure reasonability of overall model results. Maintain model documentation and ensure adequacy of model controls.
  • Process Improvement: Leverage technology to streamline existing processes and expand capabilities.
  • Projects: Engage in projects to support business initiatives and new products, as needed.
  • Collaboration & Communication: Actively engage with partners and key stakeholders across the company to share results and best practices.
    • What you'll need:
    • Bachelor's degree, preferably in Actuarial Science, Mathematics, Statistics, Computer Science, or another STEM field.
    • A self-motivated individual with ownership mentality and ability to manage tasks independently.
    • Good time management skills and ability to prioritize and execute on a diverse array of tasks.
    • Strong verbal & written communication skills. Collaborate effectively with other associates as part of a team.
    • Strong technical skills to quickly get up to speed with models, analyze large amounts of data, and contribute towards enhanced analytics and process improvements. Commonly used applications include Excel/VBA, SQL, Power BI, and Python.
    It'd be a plus if you had:
    • At least 1 year of relevant actuarial experience.
    • At least 2 actuarial exams passed.
    • Experience with statutory reserving practices and concepts.
    • Experience with asset-liability modeling using actuarial modeling software.
    • Experience with coding in VBA, Python, or other language.
    • Knowledge of asset-liability management principles and insurance company investment portfolios.
    • Knowledge of Pension Risk Transfer, Structured Settlement, or Stable Value products.
    Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply. At Prudential, you can: Take charge of your career. We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services such as on demand resources and networking to propel your career forward. We're a global organization, full of outstandingly dedicated people who aren't afraid to think differently, challenge the status quo and take sensible risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose. #LI-RRJ What we offer you: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $69,200.00 to $103,000.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
    • Market competitive base salaries, with a yearly bonus potential at every level.
    • Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
    • 401(k) plan with company match (up to 4%).
    • Company-funded pension plan.
    • Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
    • Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
    • Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
    • Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
    Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom. 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. If you need an accommodation to complete the application process, please email [email protected] . If you are experiencing a technical issue with your application or an assessment, please email [email protected] to request assistance.
Posted 2025-10-06

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