Full-time

Actuarial

Letterkenny Co Donegal

Prudential Financial, Inc. 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. For more information, please visit www.prudential.com.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. For more information, please visit http://www.prudential.com/retire/.

This role is for a position at Pramerica Ireland, a wholly owned subsidiary of Prudential. The Pramerica website can be found at http://www.pramerica.ie/

The selected candidate will be part of the team responsible for supporting Prudential Retirement colleagues in the USA in underwriting and pricing major longevity reinsurance transactions, in conjunction with the Pramerica Actuarial team in Ireland.


Major Responsibilities:
• Prepare actuarial data to support UK Longevity Risk Transfer (LRT) pricing.
• Facilitate the receipt, validation and quality checking of the data
• Analyze the data for use within underwriting tools
Typical responsibilities
Learning
• Work closely with colleagues in the US and Ireland to gain a sound understanding of the current processes and systems in place for LRT Actuarial work

Data cleansing
• Collate data that may come in several large files
• Clean pensioner data received from client, working in parallel with US based colleagues
• Identify where there are multiple records for the same member and de-duplicate this data
• Undertake completeness check of the information sent, both from an overall data integrity perspective and also with actuarial risk management in mind
• Work with Actuary to identify major themes with the data (including previous benefit transformation exercises that may have been undertaken with the pensioners)
• Form a list of questions on the data for resolution with the client, via Prudential’s LRT actuarial team
• Maintain a question and answer log

Data manipulation
• Develop the efficiency and effectiveness of existing processes for manipulating the data into a standardized format that can be used in the underwriting process
• Build a database of information and longevity experience from ongoing and previous transactions
• Summarize the data for each transaction, providing characteristics by age, gender, pension amount and split of pensions by different cost of living adjustment tranches
• Draw key conclusions from the data about historic longevity experience, including intelligent tranching of the data to draw out further useful observations on how pensioner mortality experience has varied across different sub-groups of the population, including occupation groups, pension amounts, gender and main life/dependant status
• Compare mortality experience with standard UK age and gender related assumptions
• Opportunity to work with the actuary in using market leading tools in support of longevity underwriting and pricing recommendation that are made by Prudential actuaries in the USA

Position Requirements And Education: Qualifications:
• Must be educated to degree level in a Mathematic(Statistical, Analytics or Actuarial) discipline.
• Have studied life contingencies (mortality rates, annuities etc)
• Must have experience in applications Actuarial / Data modeling with a proven track record in Analysis.
• Very strong Excel, Microsoft Access and SQL skills.
• Experience with VBA, InfoZoom as well as C++ programming knowledge would be a plus
• Experience in documenting models and data work

Personal Skills:
• Excellent analytical, IT and data management skills.
• Excellent presentation, written and verbal communication skills.
• Excellent multi-tasker with strong problem-solving skills and resourcefulness.
• Excellent organizational skills.
• Proven ability to learn and adapt to change quickly and easily and to motivate others to do likewise.
• Team player with excellent interpersonal and motivational skills.
• Have a positive attitude and take a proactive approach to problem solving.
• Ability to work in a challenging environment handling the management of issues in a calm, professional and controlled manner