Job Description
Associate, Model Risk - Actuarial (Hybrid) at Prudential Financial summary:
The Associate, Model Risk - Actuarial role involves performing independent model reviews within the Model Risk Management Group to ensure effective management of insurance, product, assumption, and model risks. Responsibilities include researching regulatory frameworks, evaluating model risks, developing challenger models, and documenting review findings. The position requires actuarial knowledge, strong analytical and technical skills, and collaboration with multiple stakeholders in a hybrid work environment.
Job Classification:
Corporate - Risk
Are you a technical, risk-minded individual? Do you enjoy solving financial problems? Enterprise Risk Management's (ERM) mission is to enable intelligent management decisions to help drive exceptional business, customer, and financial outcomes over the long term. The Insurance, Product, Assumption, Model (IPAM) team within ERM enables Enterprise end-to-end management of Insurance, Product, Assumption, and Model Risk.
The Model Risk Management Group (MRMG) within IPAM is responsible for managing model risks across the enterprise. We are seeking to hire two Associates to be members of the MRMG and work with a talented team to perform independent model reviews.
The current EWA for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business.
What you'll do: - Research relevant regulatory frameworks, underlying products, assumptions and methodologies.
- Review model documentation, evaluate risks and propose review strategies.
- Perform modeling analytics and build independent challenger models and other analytical tools as needed.
- Clearly document review activities in a comprehensive model review report.
- Work closely with others, both inside and outside the MRMG.
Related to model review work, this position would also have exposure to model risk assessments and model issue remediation processes.
What you'll need: - 0-2 years of actuarial or related work experience.
- Bachelor's degree in actuarial science or related field.
- Several exams passed and desire to pursue ASA/FSA designations.
- Excellent mathematical and analytical problem-solving skills.
- Strong technical skills and ability to understand complex quantitative concepts and models. Experience with Actuarial software (PolySystems, AXIS, Prophet etc.) and programming languages (Python, VBA, C++, MATLAB ETC.) is highly preferred.
- Experience in model development, implementation, and/or validation is a plus.
- Strong knowledge of AI/ML algorithms or experience in developing data science models is a plus.
- Strong communication skills, both written and oral, including the ability to communicate complex issues to non-technical persons.
- Ability to build strong relationships and collaborate with others.
What we offer you: 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 $78,700.00 to $117,300.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
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. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
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.
If you need an accommodation to complete the application process, please email
If you are experiencing a technical issue with your application or an assessment, please email to request assistance.
Keywords:
model risk management, actuarial science, financial modeling, risk assessment, regulatory compliance, data science, AI/ML algorithms, quantitative analysis, Python programming, model validation
Job Tags
Part time, Work experience placement,