Richard Lambert is senior vice president and chief actuary of Prudential Financial, Inc. In this role, Lambert oversees all actuarial functions across Prudential and reports to the board of directors on actuarial matters.
Previously, Lambert served as senior vice president and chief actuary of Prudential's International Insurance (PII) division. He was responsible for reserve and asset adequacy testing for PII's U.S. statutory liabilities, helped develop the company's Economic Capital framework and oversaw PII's Economic Capital analysis. In addition, he led the conversion of all of PII's operations to a common actuarial software system, developed a common source of earnings analysis for international operations and helped to evaluate potential acquisitions, including Star and Edison.
Prior to joining PII, Lambert was vice president and actuary in Prudential's domestic Individual Life Insurance business from 1996 to 2004. During that time, he had a variety of responsibilities, including new product design and pricing, determining the allocation of stock to individual life insurance customers in connection with Prudential's demutualization, establishing dividends for closed block policies, conducting experience and source of earnings analysis, and supporting expense and capital management.
He joined Prudential in 1978 after graduating from Princeton University with a bachelor's degree in mathematics and has held a wide variety of assignments, including serving as chief actuary of Pruco Life from 1993 to 1996.
Lambert is a Fellow of the Society of Actuaries, a chartered enterprise risk analyst, a member of the American Academy of Actuaries, a chartered financial analyst, a chartered life underwriter, a chartered financial consultant, and attended Columbia University Business School's Executive Program in Business Administration.