Job Description:
Job Description:
Risk Management Actuary
Pacific Life is investing in bright, agile and diverse talent to contribute to our mission of innovating our business and creating a superior customer experience. We're actively seeking a talented Risk Management Actuary to join our Retirement Solutions team in Newport Beach, CA. This role can be on-site or 100% remote.
As a Risk Management Actuary, you'll play a key role in Pacific Life's growth and long-term success by executing Variable Annuity risk projections for both GAAP and Statutory accounting framework. You will get exposure to hedging and valuation when implementing modeling changes and ensuring consistency of results. You will fill an existing role that sits on a team of four people. Your colleagues will include other actuarial and risk management professionals across the business.
Candidates who meet most but not all requirements are encouraged to apply. Actual job title and offer will be based on experience and skillset.
How you will make an impact:
- Maintain and run the quarterly risk projections model that projects GAAP and Statutory balance sheets and income statements under various capital market and economic scenarios.
- Provide support in the Division's annual VA strategic plan, with ownership of models and analysis of results.
- Effectively communicate the key drivers to management.
- Evaluate financial impacts of assumption changes and general modeling enhancements on risk management projections.
- Support various VA risk management responsibilities, including assessment of potential risk mitigation approaches or hedging strategies.
- Assist with the development, maintenance, and documentation of financial models and modeling processes in support of the Division's evolving VA risk management needs. Identify areas of potential improvements and recommend/implement solutions with emphasis on innovation, efficiency, and governance.
The experience you will bring:
- 4-6+ years of actuarial experience
- 4-year college degree in actuarial science or related field
- ASA required; FSA strongly preferred
- Insurance industry experience - annuities, life insurance, or pension products.
- Ability to multi-task and is detail oriented
- Takes initiative with strong problem-solving skills
What will make you stand out:
- Solid understanding of variable annuities, including product features, US GAAP and Statutory accounting methods, economic capital, pricing, and/or other risk metrics.
- Working knowledge in equity and fixed income derivatives commonly used for VA hedging.
- Experience with Alteryx or Tableau
More reasons to join:
At Pacific Life, the work we do matters. We work passionately each day to drive our company forward while enjoying job security, flexible scheduling, and great opportunities for career growth.
If you're seeking a thriving career doing the type of meaningful work that's all too rare at a Fortune 500 Company, Pacific Life is the place for you. If you are a self-starter who appreciates creativity and individuality in your colleagues - even better. We look forward to receiving your application.
Want to learn more about life at Pacific Life? Take an inside look at our company culture: Instagram.com/lifeatpacificlife.
Our response to COVID-19
Despite the pandemic, Pacific Life has remained safe, stable and productive, thanks to our digital processes and people-first culture. An agile approach has aided us in successfully shifting our recruiting and onboarding activities toward a safe work-from-home environment. Please let us know if you have any questions about the interview process or about our response to COVID-19. #LI-AI1
How We Help You Succeed:
We're fostering a culture of shared values across our company by providing generous compensation and comprehensive benefits that allow our employees to find fulfillment and security in personal life and career alike. These include:
Competitive Salary and Benefits
Work-Life Balance & Flexible Scheduling
Medical, dental, and vision as part our commitment to investing in the health and wellbeing of our employees
Two retirement savings plans: 401k savings plan with company match and Company Retirement Contribution (company-paid)
Generous PTO and holiday pay
Warm Colleagues & Inspiring Culture
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.