Actuarial Associate, Pricing & Product Development

Overview

Join PGIM Ireland's International Reinsurance pricing team based in Letterkenny, with a hybrid working arrangement involving two days onsite weekly. PGIM Ireland fosters employee growth by providing opportunities for professional development, enabling innovation and success.

Key Responsibilities

• Participate in pricing execution for Prudential Financial's expanding Longevity Reinsurance Business, focusing on pension risk transfer (PRT) deals ranging from mid-market (£300M+) to jumbo (£1Bn+) transactions.
• Collaborate extensively with international actuarial teams, business partners, and stakeholders across the UK, Netherlands, and other markets.
• Analyze pension plan data to establish mortality and marital assumptions and develop financial projections for pension liabilities.
• Calculate a spectrum of fees associated with reinsuring longevity risks.
• Support the Longevity Reinsurance 'flow' solution for sub-£300M transactions by examining pension plan materials, cleansing and integrating pensioner data, and preparing transactional models.
• Consolidate and reconcile findings with front-end insurers and update pricing and underwriting parameters biannually.
• Contribute to the enhancement and maintenance of actuarial models used in pricing.

Candidate Profile

• Possess a bachelor's degree in Actuarial Science, Mathematics, Statistics, Engineering, or a closely related quantitative discipline.
• Progress towards Associate qualification with the Institute and Faculty of Actuaries, ideally possessing approximately two years of actuarial experience.
• Demonstrate proficiency in Excel, with a readiness to learn programming languages such as SQL and Python.
• Exhibit the ability to comprehend complex quantitative models and concepts.
• Strong interpersonal and communication skills conducive to collaboration with international colleagues and clients.
• Motivated, creative in problem-solving, and capable of adapting quickly within a dynamic, multi-national team environment.

Additional Details

• Competitive salary with structured exam-based increments.
• A positive and collaborative work culture complemented by modern office facilities.
• Supportive study package for actuarial exam progression.
• Health insurance coverage options in partnership with providers like Laya and BUPA.
• 23 days of paid annual leave plus 10 US public holidays.
• Robust pension scheme matching up to 8% of base salary, with options for additional voluntary contributions.
• Annual bonus program and tax-free voucher rewards.
• Life assurance benefits providing coverage of four times the employee's salary from the date of employment.
• Education assistance program reimbursing eligible further education costs.

Company Information

PGIM is the global asset management division of Prudential Financial, Inc. managing nearly US$1.4 trillion in assets globally across 18 countries. With close to 150 years of heritage and expertise traversing over 30 market cycles, PGIM emphasizes long-term investments and talent development.

Diversity and Inclusion

PGIM Ireland commits to fostering an inclusive workplace where diversity is celebrated and all employees can bring their authentic selves. The hiring process focuses purely on merit, free from discrimination based on gender, sexual orientation, religion, ethnicity, or other personal attributes. Employment offers are contingent upon satisfactory references and background verification.