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For more than 140 years, Prudential Financial Inc. (“PFI”) has helped individual and institutional customers grow and protect their wealth. Today, we are one of the world's largest financial services institutions with operations in the United States, Asia, Europe, Latin America, and Africa. We also have one of the most recognized and trusted brand symbols: The Rock ®, an icon of strength, stability, expertise, and innovation. For more information, visit www.prudential.com.

Gibraltar Reinsurance Company Ltd. (“Gib Re”) was established in Bermuda as a wholly owned subsidiary of PFI.  Gib Re has primarily assumed both existing and new businesses from Japanese affiliate companies to gain the enterprise capital efficiency by allowing reserve levels to be managed closer to an economic basis, while balancing financial soundness and protecting policyholder interests.

Lotus Reinsurance Company Ltd. (“Lotus Re”) was recently established as a wholly owned subsidiary of PFI and is a sister company of Gib Re.  LotusRe expands PFI’s presence in Bermuda with the primary purpose of assuming risk from PFI’s US businesses in support of enterprise objectives of producing more economic outcomes for certain products and liabilities, while remaining anchored in our guiding principles of maintaining focus on all our stakeholders

and looking to improve outcomes for existing and new policyholders.

Open Architecture Solutions is looking to fill a 9P Associate Actuary role in the Modelling Team.

This individual will be responsible for modelling needs for the team, building and maintaining the team’s existing R and GGY models and working on process and modelling enhancements. These models are used by the Bermuda valuation and reporting teams (Gib Re and Lotus Re), which are responsible for calculating actuarial items and preparing annual Bermuda statutory financial statements (SFS), Bermuda Monetary Authority (BMA) Economic Balance Sheet (EBS), Bermuda Solvency Capital Requirement (BSCR), various capital calculations and risk assessments, tax reserve reporting and Prudential quarterly management reporting of Gib Re and LotusRe. The teams also have responsibility for forecasting and stress testing of reserve and capital requirements for Bermuda frameworks. This individual will also have the opportunity to support various ad hoc analysis and reinsurance transaction pricing with the Bermuda companies.

Bermuda’s reporting frameworks are principles based, and the reporting will have similarities to US GAAP Fair Value and other international frameworks such as Solvency II, providing excellent development opportunities.

The current EWA 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.

What you can expect to do:

• Manage and maintain the models in accordance with BMA regulatory rules and Bermuda accounting frameworks.


• Refine existing models and build up tools for reserves and capital for annual statements, capital calculations and management reports.


• Perform regular model enhancements for the Bermuda R model and work with the Enterprise Modelling teams on maintaining and developing GGY Axis model for Bermuda.


• Perform model testing and validation for all model updates and enhancements, not limited to R model and GGY Axis model but also new models adopted by the teams.


• Preparation of documents and testing for model registration and model affirmations.


• Enhance actuarial processes to improve efficiency and productivity to be following actuarial models’ validation, maintenance, and risk management requirements.


• Collaborate and engage with key stakeholders: Gibraltar Re actuarial team, Lotus Re actuarial team, Enterprise Modelling, Chief Investment Office, Actuarial Model Control, Model Risk Management Group, Audit (internal and external), Assumptions.


• Support ad hoc analysis and future Bermuda reinsurance transaction related projects.

What you will need:

• Bachelor’s Degree Required.


• 3+ years of related work experience on – some prior modelling experience preferred.


• Proficient with R model is required.


• Experience with GGY Axis is a strong plus.


• Experience with International Accounting Frameworks and/or Reinsurance is a plus.


• Associate of the Society of Actuaries (ASA) preferred but not required.


• Dedication to completing work in a timely fashion and with high-quality results.


• Highly organized and collaborative and adept at managing multiple, competing priorities.


• Excellent problem-solving skills and thinking out of the box.


• Ability to efficiently communicate highly technical concepts with peers as well as senior-level audiences.

Note: 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 $115,800.00 to $172,300.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.