Senior Actuary - Annuity Product Management

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 Senior Actuary to join our Annuity Product Management Team in Newport Beach, CA. Candidates open to relocating to this location are encouraged to apply.
• This role is hybrid. We believe in empowering our employees to get work done both in and out of the office.
As a Senior Actuary, you’ll be on the front line to drive Pacific Life’s growth and long-term success by identifying key drivers of new business profitability and supporting efforts to drive innovation and competitiveness of our annuity products.
How you’ll help move us forward:

• Perform modeling to produce several key profitability metrics under different accounting frameworks (Stat, Economic, MCVNB, and GAAP) for our quarterly business report on annuity products like FRD/MYGA, FIA, RILA, VA, SSA and SPIA.

• Perform in-depth analysis on the movement and trend of KPIs on annuity products from quarter to quarter.

• Explain those results, insights, and emerging trends effectively to senior management and different audiences.

• Understand drivers of profits and capital efficiency for annuity products and explore tools to optimize those in asset strategy, reinsurance, hedging, and others.

• Develop the ability to estimate impacts to profitability from various reasons using rule of thumb and first principles.

• Understand the impacts of decisions made in the new business area on Inforce Management, Valuation, Capital, and other stakeholders.

• Support initiatives aimed at enhancing product competitiveness and product research efforts.

• Collaborate closely with other annuity teams (e.g., Pricing and Rate-Setting) to ensure consistency in models and processes.

• Identify operational efficiencies and modernization opportunities in existing processes and lead the implementation efforts to achieve quicker turnaround times for the quarterly report.

• Keep up with all the latest changes, including new assumptions and the latest Corporate pricing guidelines, and implement them.

• Implement industry best practices into model controls and governance.

• Serve as the lead reviewer and coach for junior staff members on the team.

The experience you bring:

• Bachelor’s degree in Actuarial Science, Mathematics, Computer Science, Data Science, or other related fields.

• FSA designation required.

• Experience working with some actuarial modeling software.

• Experience working with large data sets (e.g., Alteryx, Snowflake) and data visualization software (e.g. Tableau).

• Ability to work independently and collaboratively as part of a team and to manage long-term projects.

• Detail-oriented with excellent organizational and interpersonal skills.

• Excellent analytical, critical-thinking, problem-solving, and decision-making skills.

What makes you stand out:

• 6+ years of actuarial experience preferred.

• Experience with annuity products and features.

• Experience in annuity Pricing and Rate-Setting.

• Knowledge of different accounting frameworks.

• Good understanding of reinsurance, hedging, and asset strategy.

• Ability to drive discussion with senior leadership.

You can be who you are.
People come first here. We’re committed to a diverse, equitable and inclusive workforce. Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at www.pacificlife.com. What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife.
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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.

$163,620.00 - $199,980.00

Your 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

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.