18 days old

Actuarial Associate (Model Risk Mangement)

Prudential Ins Co of America
Newark, NJ 07102
  • Job Code
    MOD0004X
  • Jobs Rated
    10th

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
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Actuarial Associate (Model Risk Mangement)

Prudential Ins Co of America
Newark, NJ 07102

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Actuary
10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

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