Director, Actuary (Information Technology)

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!

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.

Prudential established a ‘start-up' operating environment within the existing Individual Life Insurance (ILI) business to accelerate and win in the Simplified Solutions space, expanding access to insurance and financial products. This dedicated team leverages the size and scale of ILI's business while integrating technology to achieve exponential growth.

Our team of fully empowered, accountable and innovative owners are eager to drive growth in new markets while operating beyond functions (an integrated approach to how work gets done with no functional constraints). A broad skillset with the necessary expertise and a continuous focus on learning, evolving, fast decision making and executing is essential.  Although different from the traditional teams we are used to, working within this operating structure creates a start-up environment that is nimble yet retains scale benefits.

What you can expect:

The Director, Actuary will primarily be responsible for product pricing and financial modeling of innovative insurance products. This dynamic role embodies the risk-smart startup culture to drive speed to market and iteratively optimize the product offering to balance pricing, profitability, and sales. This unique position allows visibility into the full life insurance ecosystem and encourages creative problem solving to address the needs of underserved customer demographics in new ways.

This position will report to the Chief Analytics and Pricing Officer for Simplified Solutions and will collaborate in a cross-functional team, including actuarial, finance, product, underwriting, sales, and technology, with additional exposure to marketing, operations, and digital experience.

• Develop pricing strategies to support the development of innovative Life Insurance products targeted for the Mass Market.
• Lead the actuarial analysis and financial modeling to ensure competitive and profitable products.
• Evaluate policyholder experience and assist in assumption development; collaborate with underwriting to dynamically price for mortality risk exposure.
• Monitor market trends, competitor pricing, and emerging risks to adjust pricing models and strategies accordingly.
• Ensure compliance with regulatory requirements and lead product filing initiatives.
• Collaborate with sales team to evaluate alternative compensation agreements and risk mitigation strategies.
• Reinsurance pricing and support as needed.

What you'll need.
• 7 or more years of actuarial experience, particularly with a focus on Individual Life products and product development, pricing, reinsurance, actuarial and financial projections. Fellow of Society of Actuaries designation (FSA) is preferred.
• Creative problem-solver with strong quantitative modeling and analytical skills; Intermediate skills with GGY-AXIS, Python, PowerBI, and other coding languages is preferred.
• Excellent written and verbal communication skills; able to explain technical concepts to non-technical audiences.
• Risk smart and customer obsessed; informed by customer insights and data to innovatively deliver financial growth by understanding consumer, partner, and risk interactions to nimbly achieve business results.
• Highly motivated individual who can work equally well independently and in a team environment.

• Open to remote/virtual location

Join us in this exciting opportunity to innovate and shape the future of life insurance. Apply now to become a part of a dynamic team, expanding insurance access to all!

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.

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 $164,700.00 to $222,700.00. 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.