Job Description:
Providing for loved ones, planning rewarding retirements, saving enough for whatever lies ahead – our policyholders count on us to be there when it matters most. It’s a big ask, but it’s one that we have the power to deliver when we work together. We collaborate and innovate – pushing one another to transform not just Pacific Life, but the entire industry for the better. Why? Because it’s the right thing to do. Pacific Life is more than a job, it’s a career with purpose. It’s a career where you have the support, balance, and resources to make a positive impact on the future – including your own.
We’re actively seeking a talented Actuary & Director – Enterprise Assumption Review to join our Enterprise Actuarial Governance Team. This role is on-site 4 days per week and work from home 1 day per week in Newport Beach, CA, Omaha, NE, or Charlotte, NC. If you are not currently located near one of our offices, we offer comprehensive relocation assistance.
As an Actuary & Director of Enterprise Assumption Review, you’ll drive Pacific Life, and your career forward by collaborating across the enterprise to review actuarial assumptions, partner with first-line developers and key stakeholders (including Risk, Pricing, and Valuation), develop challenger models, and strengthen controls and governance. You will report directly to the VP Actuarial & Appointed Actuary.
How you will make an impact:
As a member of the Dedicated Review Group, you will act as the lead or supporting reviewer of enterprise biometric (or policyholder behavior) assumptions, spanning multiple product lines and geographic markets world-wide, reinforcing the first line of defense.
Identify and highlight areas of inconsistencies for assumption developers. Recognize business implications and ensure that assumptions are well rounded and holistic.
Maintain comprehensive enterprise-wide guidance and champion best practices for assumption monitoring, experience studies and assumption development.
Collaborate with stakeholders in the first-line development and actuarial communities, and second-line risk pillars.
Deliver and support comprehensive peer review reports, detailing effective challenges to the suitability of data selection, analytical methodologies, actuarial judgment, and verifying the analysis.
Engage in projects aimed at streamlining assumption governance, enhancing efficiency and consistency in processes.
Support on assumption development tracking, creating a regulated process around assumption impacts, and creating PowerPoint slides for assumption updates and approvals.
Build strong relationships with key stakeholders to enhance assumption monitoring, development, and deployment across various different purposes.
Support and influence the development and future path of the assumption governance framework.
FACTORS FOR SUCCESS:
7+ years of actuarial experience with an FSA or equivalent designation
Expertise in assumption setting and experience study methodologies, industry best practices, and statistical analysis
Excited to work in a role that involves predictive modeling, machine learning, and AI
Exhibit courage in identifying and addressing potential issues, providing effective challenge, and asking probing questions
Excellent analytical, problem-solving, and decision-making skills
Ability to present complex information in a clear and concise manner to various audiences, including senior management
Bachelor's degree in actuarial science, mathematics, finance, computer science or related field or equivalent work experience
What will make you stand out:
Experience with R and Python
Experience working across different lines of business and products
Experience with Embedded Value and international reserving practices
Clear understanding of assumption governance principles
Salary Ranges per Location:
Newport Beach, CA: $203,760 - $249,040
Omaha, NE: $175,950 - $215,050
Charlotte, NC: $185,220 - $226,380
Base Pay Range:
The base pay range noted represents the company’s good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location. Also, most employees are eligible for additional incentive pay.
$203,760.00 - $249,040.00Your Benefits Start Day 1
Your wellbeing is important to Pacific Life, and we’re committed to providing you with flexible benefits that you can tailor to meet your needs. Whether you are focusing on your physical, financial, emotional, or social wellbeing, we’ve got you covered.
Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your eligible dependents
Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off
Paid Parental Leave as well as an Adoption Assistance Program
Competitive 401k savings plan with company match and an additional contribution regardless of participation
You Can Be Who You Are
We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.
What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife
EEO Statement:
Pacific Life Insurance Company is an Equal Opportunity /Affirmative Action Employer, M/F/D/V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company.