Associate Actuary, Reinsurance Operations Analytics | PGIM Ireland

Associate Actuary, Reinsurance Operations Analytics

Location: This role is hybrid, based in our Letterkenny office 2 days a week.

Prudential Financial Inc.’s (PFI) Bermuda Reinsurance team is seeking a skilled and highly motivated actuary to fill an Associate Actuary, Reinsurance Operations Analytics role that will be based in Ireland and report to the Director, Reinsurance Operations, supporting the Bermuda-based affiliate reinsurance companies, Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re). The captives reinsure life insurance business originating from Japan and the U.S., providing the role with exposure to cross-border reinsurance operations across multiple markets.

This is a newly created role within the Reinsurance Operations function, offering the opportunity to help shape and develop the actuarial analytical capabilities of the team as the function continues to grow.

This role will be responsible for actuarial analysis and review supporting the companies’ life reinsurance and retrocession operations, with a primary focus on actual business results, reinsurance cash flows and settlements, actual-to-expected analyses, and investigation of material variances and potential issues.

The role will work closely with Actuarial, Finance, and other stakeholders to assess the reasonableness and consistency of results, identify and explain underlying drivers, and deliver actuarial insights that support effective reinsurance operations, financial reporting, and management understanding of the business.

This role is well suited for an actuary who enjoys working with policy-level, settlement, and financial data, investigating results in detail, identifying underlying drivers and potential issues, and translating actuarial analyses into clear insights and appropriate follow-up actions.

Primary Responsibilities:

• Perform actual-to-expected analyses of key policyholder experience and reinsurance cash flows, including Investigation of material variances and emerging trends.
• Assess the reasonableness of reinsurance settlement amounts, including their consistency with relevant policy, actuarial, and financial information, and investigate significant or unexpected items.
• Prepare and analyze PHAB roll-forwards, assess the reasonableness of key movements and components, and investigate material or unexpected variances.
• Review in-force data for reasonableness and consistency with reinsurance settlement data, and investigate material differences as appropriate.
• Identify potential data, model, assumption, or process issues observed through actuarial analysis and coordinate appropriate investigation and follow-up with relevant stakeholders.
• Own the production, interpretation, and continuous improvement of recurring actuarial analyses and reporting, and perform ad hoc actuarial analyses to support emerging business needs, issue investigation, and management inquiries.
• Partner with Valuation and other actuarial teams to understand expected results, assumptions, and model outputs required to interpret actual experience.
• Work closely with Finance and other stakeholders to communicate findings, resolve identified issues, and determine appropriate follow-up actions.
• Synthesize analysis into clear insights for management, including prioritization of key drivers, issues, and recommended follow-up actions.
• Develop and enhance analytical tools and processes using Excel, Microsoft Access, and other technologies, while supporting the design, testing, and implementation of future automation solutions.
• Maintain appropriate documentation, controls, and review procedures for recurring actuarial analyses and reporting.

Required Qualifications:

• Bachelor’s degree in actuarial science, mathematics, statistics, finance, or a related quantitative discipline.
• Significant progress toward, or completion of, a recognized actuarial qualification.
• 5+ years of relevant actuarial experience in life insurance, with a strong understanding of actuarial concepts and insurance cash flows.
• Experience analyzing actual insurance or reinsurance results, including actual-to-expected analysis, investigating material variances, and identifying underlying drivers.
• Experience working with policy-level or other large insurance datasets, with strong analytical and problem-solving skills.
• Advanced proficiency in Microsoft Excel and the ability to analyze and reconcile data from multiple sources.
• Ability to communicate actuarial analyses, findings, and potential issues clearly to both technical and non-technical stakeholders.
• Strong attention to detail and ability to manage recurring analytical deliverables while collaborating effectively with Actuarial, Finance, and other stakeholders.

It’d be a plus if you had:

• Experience with life reinsurance and/or retrocession.
• Experience analyzing Japanese life insurance business.
• Experience with actuarial modeling software such as PolySystems, and familiarity with the relationship between model assumptions, expected cash flows, and actual results.
• Experience with VBA, Microsoft Access, Python, SQL, Power Query, or similar analytical and automation technologies.
• Experience developing, enhancing, or automating recurring actuarial analyses and reporting.
• Japanese language skills.

*PGIM 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:

• Health Insurance: PGIM Ireland partner with Laya and BUPA to provide health insurance schemes that cover eligible employees day to day medical and hospital expenses.
• Annual Leave of 23 days at full pay.
• Pension Scheme: Members of the scheme can contribute up to 8% of salary per annum and PGIM Ireland matches contributions up to 8% of salary. Members can also make voluntary contributions to the scheme.
• Annual Bonus Programme & Shop LK Vouchers / CleverCards (subject to eligibility): Along with an annual bonus employees are rewarded with Shop LK Vouchers/ CleverCards which are paid tax free.
• Life Assurance: fully paid by PGIM Ireland, employees are covered from their start date and beneficiaries are provided with a lump sum of four times an employee’s salary.
• Education Assistance: PGIM Ireland have an Education Assistance Programme that reimburses eligible employees for furthering their education.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

PGIM Ireland is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants’ gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. PGIM Ireland's aim is to hire the best people for the open roles and all appointments will be made on merit.

Any offer of employment made by PGIM Ireland will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within PGIM Ireland.

About Prudential

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of Dec. 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information please visit news.prudential.com.

Our Commitment to an Inclusive Workplace

Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

About PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a global investment manager with US $1.3 trillion in assets under management as of Dec. 31, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate, and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

PGIM Inc. (PGIM) is the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

Our Commitment to an Inclusive Workplace

Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.