Actuarial Associate, Pricing & Product Development | PGIM Ireland

At PGIM Ireland, we care about our employees, and 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.

The Senior Actuarial Associate, Pricing & Product Development within our Ireland based International Reinsurance pricing team. You will play a key role in the overall pricing execution of Prudential Financial’s rapidly growing Longevity Reinsurance Business. You will be instrumental in navigating new deal opportunities, from assumptions setting and pricing Longevity Risk Transfer transactions, to collaborating with stakeholders across the business. 

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  Bachelor's degree required, preferably in Actuarial Science, Mathematics, Statistics, or other quantitative field (e.g. Engineering).

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  Progress towards attainment of the Associate of the Institute and Faculty of Actuaries designation. Ideally around two years’ prior actuarial work experience.

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  Strong working knowledge of Excel.

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  Exposure to or willingness to learn programming languages such as SQL and Python.

• Prudential supports the PRT market in the UK, Netherlands and beyond by reinsuring mortality and other demographic risks

• This provides increased capacity for local market front-end insurers to price competitively

• You will support pricing of mid-market (£300M+) and ‘jumbo’ (£1Bn+) pension risk transfer (PRT) deals

• You will:

  • Work with a broad group of international actuarial and business partners in a fast-paced, collaborative, customer and deal-focused environment.

  • Liaise with external clients and a supportive group of US based colleagues to protect and leverage data

  • Analyse pension plan experience data to determine mortality and marital assumptions.

  • Generate assumptions and financial projections for underlying pension liabilities.

  • Determine a range of fees to be charged for reinsuring longevity risk.

The role will also include supporting our Longevity Reinsurance ‘flow’ solution for sub GBP300M transactions. You will:

• 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.

• Ability to understand complex quantitative concepts and models.

• Strong communication skills for effective collaboration with our US and Ireland based associates and our international 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.

Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We do not just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

PGIM Ireland is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants’ gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. PGIM Ireland's aim is to hire the best people for the open roles and all appointments will be made on merit.
 
Any offer of employment made by PGIM Ireland will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within PGIM Ireland.