18 days old

Actuarial Associate (Model Risk Mangement)

Prudential Ins Co of America
Newark, NJ 07102
  • Job Code
  • Jobs Rated

The mission of Enterprise Risk Management (ERM) is to ensure that Prudential has a comprehensive framework for understanding the risks embedded in and across its businesses, so that the company can manage these risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value.

An integral part of the ERM organization is the Model Risk Management Group (MRMG), which includes two teams: (1) Model Risk Management and (2) Model Risk Control Office. The primary objectives of MRMG are to effectively challenge, manage and mitigate model risks, and maintain model inventory, risk assessment and model control standards.

Primary Responsibilities

This position will be part of the Model Risk Management team, primarily responsible for independent model reviews and testing of models.

The incumbents level of experience and subject matter expertise will determine his or her level of leadership and involvement relative to the following responsibilities:
Support model review work including the following activities:
Research relevant regulatory frameworks, underlying products, assumptions and methodologies
Review model documentation, evaluate risks and propose review strategies
Build independent challenger models and other analytical tools as needed
Perform model output analytics

Use data science skills and knowledge to evaluate the design of predictive analytics tools
Create a comprehensive model review report
Be exposed to multiple lines of business and model types: pricing, financial reporting, capital, forecasting and others
Work closely with others, both inside and outside the team

This position may also help with the monitoring of model control standards, model risk assessments, and model issue remediation in partnership with the Model Risk Control Office.

Degree in Actuarial Science, Data Science, Mathematics, Financial Engineering, Economics, Business, Sciencebased, or another analytical field

Successfully passed one or more actuarial exams

Experience with data analytics tools such as Python, R, or equivalent for statistical modeling of large data sets

Experience working in an actuarial position is a plus

Experience in model development, implementation and/or validation a plus

Knowledge of insurance or retirement products is a plus

Strong communication skills, both written and verbal

Knowledge of software packages used in business communication such as MS Excel, Word and PowerPoint

Knowledge of relevant software packages, such as ALFA, Prophet, MATLAB, VBA, SAS software is a plus

Data visualization skills including Power BI and/or Tableau a plus.

Working knowledge of programming languages, such as C, C++, JAVA is desired

Jobs Rated Reports for Actuary

Posted: 2019-10-31 Expires: 2019-11-29
Sponsored by:
Farm Credit Services of America Logo
Sponsored by:
Bank of America Logo

Featured Jobs[ View All ]

Featured Employers

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Actuarial Associate (Model Risk Mangement)

Prudential Ins Co of America
Newark, NJ 07102

Join us to start saving your Favorite Jobs!

Sign In Create Account
10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

Work Environment
Very Good
Very Good
Powered ByCareerCast