Actuarial Associate

at  PGIM

OUR VISION:

At PGIM Ireland, we care about our employees, and we are committed to seeing them succeed. We provide our employees with access to professional development and support to help drive their success and ability to innovate.

WHAT YOU WILL DO:

The Actuarial Associate, Pricing & Product Development, is a position on the pricing team within our Ireland based International Reinsurance area. You will play a key role in the overall pricing execution and infrastructure development of Prudential Financial Inc’s rapidly growing Longevity Reinsurance Business. You will be instrumental in navigating new deal opportunities, from analysing a deal’s liability characteristics and mortality experience, to collaborating with various stakeholders across the business.

What you can expect:

• Analyse plan specific experience data to determine mortality and other demographic assumptions to be used as the underwriting basis.
• Generate assumptions, financial projections and evaluate international reinsurance transactions.
• Determine fee that should be charged for accepting longevity reinsurance risk.
• Mine and scrub complex pension plan datasets.
• Improve tools, analytics, or processes used within the team.
• Work with a broad group of international actuarial and business partners in a fast-paced, collaborative, customer and deal-focused environment.

The role will also include supporting our Longevity Reinsurance flow solution for sub GBP300M transactions, where responsibilities will also include:

• Analyse materials provided by the pension plan to the front-end insurer, to establish benefit design and data characteristics.
• Cleanse, sew together and update pensioner data.
• Prepare simplification and transaction models to generate reinsured cashflows and fees.
• Consolidate findings with those provided by front end insurer and reconcile any differences.
• Update pricing and underwriting parameters every 6 months.
• Help maintain and improve our models.

What you will bring*:

• Bachelor’s degree required, preferably in Actuarial Science, Mathematics, Statistics, or other quantitative field (e.g. Engineering).
• Progress towards attainment of the Associate of the Institute and Faculty of Actuaries designation. Up to two years’ prior actuarial work experience.
• Strong working knowledge of Excel and VBA macros.
• Exposure to or willingness to learn programming languages such as SQL and Python.

What will set you apart:

• Ability to understand complex quantitative concepts and models.
• Strong communication skills for effective collaboration with our US and Ireland based associates and our UK clients.
• Highly motivated, innovative, and creative problem solver and conceptual thinker.
• Fast learner and ability to work in a multi-functional, multi-country dynamic team environment.

* WE KNOW NOT EVERYONE WILL MEET 100% OF THE REQUIREMENTS, HOWEVER WE ENCOURAGE YOU TO APPLY IF YOU THINK YOUR SKILLS ARE A GOOD FIT FOR THIS ROLE.

What we offer you:

• Health Insurance: PGIM Ireland partner with Laya and BUPA to provide health insurance schemes that cover eligible employees day to day medical and hospital expenses.
• Annual Leave starting at 23 days at full pay, plus 10 USA public holidays.
• Pension Scheme: Members of the scheme can contribute up to 6% of salary per annum and PGIM Ireland matches contributions up to 6% of salary. Members can also make voluntary contributions to the scheme.
• Annual Bonus Programme & Shop LK Vouchers: Along with an annual bonus employees are rewarded with a choice between CleverCards and Shop LK vouchers, which are paid tax free.
• Life Assurance: fully paid by PGIM Ireland, employees are covered from their start date and beneficiaries are provided with a lump sum of four times an employee’s salary.
• Education Assistance: PGIM Ireland have an Education Assistance Programme that reimburses eligible employees for furthering their education.