Actuarial Modeling Developer – Pension Risk Transfer Contract-to-Hire | Newark, NJ | Hybrid – 3 Days per Week Onsite A major financial services firm is seeking an Actuarial Modeling Developer to support its Pension Risk Transfer pricing organization. This role combines actuarial expertise with hands-on software development and will help build the models, reusable components, and automated infrastructure supporting PRT pricing. The ideal candidate has a strong foundation in actuarial principles, quantitative modeling experience, and programming skills in Python, SQL, or VBA. This is an excellent opportunity for an actuary who enjoys building technical solutions rather than working exclusively in a traditional actuarial role.
Key Responsibilities:
Design and develop reusable actuarial components using Python, SQL, VBA, and related technologies.
Build modular calculation logic that can be integrated into automated pricing and orchestration pipelines.
Develop, enhance, and maintain actuarial pricing models and analytical tools.
Automate and streamline existing pricing processes through hands-on development.
Partner with actuaries and quantitative professionals to develop pricing solutions for diverse pension plan structures.
Analyze participant populations and pension plan experience data to establish mortality and other actuarial assumptions.
Provide accurate and actionable pricing analytics to support business decisions.
Develop pricing infrastructure, reporting capabilities, and data visualizations.
Support competitive positioning and pricing strategies that balance profitability and market competitiveness.
Collaborate with business, actuarial, technology, risk, and compliance teams.
Ensure models and pricing processes comply with internal standards and applicable regulations.
Required Qualifications:
Strong understanding of actuarial first principles.
ASA designation with at least four years of actuarial experience in pricing, product development, valuation, investments, hedging, or risk modeling.
Strong quantitative modeling skills, including experience working with complex actuarial or financial models.
Educational background in actuarial science, mathematics, statistics, computer science, finance, or a related quantitative discipline.
Programming experience with Python, SQL, or VBA, or a demonstrated commitment to developing strong programming skills.
Experience building, enhancing, or automating actuarial models and analytical tools.
Strong written and verbal communication skills.
Ability to translate complex quantitative results into actionable insights for senior leadership.
Creative problem-solving skills and the ability to work in areas where established best practices may be limited.
Ability to thrive in a fast-paced, results-oriented environment with high standards for accuracy and quality.
Preferred Qualifications:
Pension experience, including familiarity with defined benefit plan structures, liability valuation, or pension risk transfer pricing.
Experience developing callable or reusable actuarial calculation components.
Experience with cloud platforms such as AWS, Microsoft Azure, or Google Cloud Platform.
Experience with advanced analytics, machine learning, predictive modeling, or AI-enabled methodologies.
Familiarity with model risk management standards.
Experience working within an insurance company or a cross-functional financial services organization.
FSA, MAAA, CFA, PhD, FRM, or another relevant advanced credential.
Seven or more years of relevant quantitative or technical experience may be considered in place of the preferred actuarial credential profile.
