Prudential: 2023 Risk Management Development Program
Newark, NJ (Hybrid)
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of March 31, 2022, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.
Are you an on-campus leader who wants to apply your curious mind to problem-solving, trend research, and data analysis to make an impact within a dynamic, evolving organization? Or maybe you’re looking to gain foundational knowledge and skills to apply in a professional environment, while developing strong relationships through training, mentorship, and ongoing feedback. At Prudential that’s a challenge we can help you meet as a member of our Risk Management Development Program (RMDP).
Think for a second how the following recent headlines could affect Prudential’s businesses:
- “How will geopolitical tensions affect markets?”
- “Human lifespan could soon pass 100 years thanks to medical tech”
- “COVID-19 Worldwide: The Pandemic’s Impact on The Economy and Market
Enterprise Risk Management (ERM) helps ensure that Prudential has a comprehensive framework for understanding the risks embedded in and across its businesses, so that the company can manage these risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value. Risk Management is the heart of how Prudential thrives during the constant evolution of the financial and insurance industries, in advances in technology and biometrics, stresses driven by global pandemics and through changes in global economies and governmental laws. In our full-time, two-year rotational program, you will gain exposure to the core functions of Risk Management while receiving technical and professional skills training and partnering with leaders to help inform business strategy.
We review applications on a rolling basis, and we encourage you to apply as soon as you are ready.
To ensure you are considered for the opportunities you want most, you are only able to apply to 3 positions per recruiting season. All applications must be submitted at one time.
All applications should be fully completed by October 28th, 2022, at midnight ET.
Your Day to Day:
Placements in our Risk Management Development Program will vary across the business. Analysts typically rotate through 2-4 of these functions in increments of at least 6 months:
- Insurance Risk Management: Insurance Risk Management is concerned with Prudential’s long-term liabilities we have through our insurance and retirement products. For example, an RMDP on our Biometrics Landscape team within Insurance Risk would research scientific papers on advances in disease cures, and present findings for leadership so that our Insurance businesses can understand how life-expectancy for our customer base may change.
- Financial Markets Risk Management: The pillars of this function are risk quantification, risk constraints (limits), credit analysis, and strategic review of sectors and trends. An RMDP might be involved by looking at data from Rating Agencies on corporate credit worthiness and use that analysis to review and critique our ongoing investment inputs (where we’re investing our assets!). Or you may be evaluating the potential impact on the Company of a range of coherent, multi-year stress scenarios, chosen to examine the Company’s significant risk exposures, and consistent in severity with a rational interpretation of “worst-in-history” experience. This team also monitors changes to market prices that affect our portfolios and may cause asset-liability mismatching (they make sure we have enough money to pay claims when we need to!). An RMDP analyst would produce and present daily, weekly, monthly, and quarterly reports on our derivative trading positions, to inform leadership on new market sensitivities.
- Operational Risk Management: Each one of Prudential’s businesses and corporate functions has specific operational practices (people, processes, systems, and events) that affect how they achieve their goals. Operational Risk specialists develop assessments, analyze events, and manage issues to ensure these practices don’t fail us in execution. For example, an RMDP analyst might discuss the overall risk profile of the Annuities Business with leaders in order to understand and enhance systems used by the business that ultimately benefit the end customer experience.
We offer a highly competitive compensation and bonus structure and assist in securing graduate placement in the organization upon successful completion of the program. All role assignments are located in our Newark, NJ headquarters, which is very accessible via train from NYC, Jersey City, and Hoboken. There are many leadership opportunities throughout the program, including speaking engagements, training and mentoring peers and interns, recruiting as a talent ambassador, and more.
- Candidates must be enrolled in an accredited bachelor’s program graduating between December 2022 and May 2023
- All majors are welcome to apply!
- Minimum 3.0 GPA strongly preferred
- Prudential does not provide visa sponsorship for this position. Successful candidates must possess the requisite US employment authorization to be eligible for consideration
- We look for the following key competencies, instead of specific majors:
- Ability to balance competing agendas
- Familiar and comfortable with quantitative and qualitative analysis
- Ability to manage complexity in assignments
- Inclined to challenge the status quo…constructively!
- Strong written, oral communication, and interpersonal skills.
- Mathematical aptitude and computer skills are helpful.
Our Application Process:
1. Submit your application.
2. Receive invitation for a digital interview; this includes answering pre-recorded interview questions with the business(es) that advance your application(s).
3. Receive invitation for a final round interview; if selected, you will have the opportunity to meet with us in person or virtually to learn more about our business and culture.
For 2023 early talent roles, our process is designed to help you learn more about Prudential/PGIM and share your story with us. Digital interviewing allows greater flexibility, enables a quicker interview process, allows us to meet more candidates and share your story with more members of the team.