Vice President, Product Risk (Hybrid)
Company: Prudential Annuities Distributors (PAD)
Location: Newark
Posted on: October 27, 2024
Job Description:
Vice President, Product Risk (Hybrid)Job Classification:
Corporate - RiskThe Prudential Product Risk team is looking for a
Vice President. This team works directly with business partners and
key stakeholders (including actuarial, finance, Chief Investment
Office, etc.) to assess and mitigate key risks across Prudential's
domestic businesses. They also act as a key linkage between the
business units and ERM's centralized Financial Risk functions,
including Market, Insurance, Investment, Assumption, and Model
Risk. Additionally, Product Risk has second-line oversight over
pricing, ensuring that pricing methodologies, models and outputs
are reasonable and appropriate.The VP will support the Heads of
Financial Risk for the domestic businesses as they manage the risks
of the domestic business units (including Individual Life
Insurance, Group and Retirement Strategies), while also
collaborating with the Heads of Financial Risk to establish a
robust pricing oversight framework.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 to expect:
- Work collaboratively with partners throughout the product
development lifecycle to identify, assess and mitigate key
risks
- Act as a key point of contact between the business units and
the centralized Financial Risk Management functions, escalating
risks as appropriate
- Help to develop presentations, including both qualitative and
quantitative illustrations, for new initiatives and new risks in
the business units
- Involvement in a variety of both inforce and new business
initiatives, including new products, reinsurance transactions,
changes in existing risk mitigants, etc
- Give businesses an understanding of Prudential's Risk Appetite
Framework and how the business units fit into it
- Perform the duties of second-line pricing oversight, including
maintaining pricing standards documents as appropriate, reviewing
methodologies and models, and understanding profitability results
and sensitivities
- Support periodic deep dives into inforce products, reviewing
emergence of risks and mitigants
- Remain engaged with the competitive landscape, providing an
understanding of competitor risk practices to stakeholders
- Manage 1-2 shared resources on a project basisWhat you'll need:
- 10+ years of broad insurance experience
- Deep knowledge of insurance products, including both
liabilities and assets
- Strong understanding of how market, investment, assumption, and
model risk manifest in Prudential's key products
- Understanding of insurer financials, including Statutory and
GAAP accounting, as well as how those frameworks are represented in
product pricing
- Analytical capabilities with ability to apply
analytical/critical thinking background to new situations
- Proven leadership experience
- Self-starter who can be trusted to take ownership of their work
product
- Strategic, creative, and broadly focused thinker
- Strong oral and written skills
- Demonstrated ability to work collaboratively to influence
business partners
- Effective interpersonal skills and highly skilled in
collaboration; this role will require constant interaction with
business unit contacts and functional partnersIt'd be a plus if you
had:
- Relevant credentials, including FSA or CFAPrudential welcomes
all applicants, even if you don't meet every requirement. If your
skills align with the role, we encourage you to apply.What we offer
you:
- 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
- Retirement plans:
- 401(k) plan with company match (up to 4%)
- Company-funded pension plan
- Wellness Programsto help you achieve your wellbeing goals,
including up to $1,600 a year for reimbursement of items purchased
to support personal wellbeing needs
- Work/Life Resourcesto help support topics such as parenting,
housing, senior care, finances, pets, legal matters, education,
emotional and mental health, and career development.
- Tuition Assistanceto help finance traditional college
enrollment toward obtaining an approved degree, many accredited
certificate programs, and industry designations.
- 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.To find out more about our Total Reward
package, see our Total Rewards Brochure. Some of the above benefits
may not apply to part-time employees scheduled to work less than 20
hours per week.#LI-HYBRIDNote: 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 $180,600.00 to $244,400.00. 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.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.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.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.
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Keywords: Prudential Annuities Distributors (PAD), Newark , Vice President, Product Risk (Hybrid), Executive , Newark, New Jersey
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