Currently, we are seeking a talented Associate Actuary to join the Retirement Solutions Division. This role can be based in Newport Beach, CA or Omaha, NE.
The Retirement Solutions Division leverages its strengths in product development, technology, services and risk management to create retirement solutions for individuals, families, and businesses. With the guidance of financial professionals, customers have access to an array of annuities and mutual funds designed to help grow assets and to provide retirement income for financial independence.
As part of the variable annuity valuation team within the Retirement Solutions Division, the incumbent will be responsible for managing valuation projects primarily related to the company's variable annuity products.
- Consult and provide support on emerging industry regulations by participating in relevant industry groups and providing analysis and modeling support to understand the impact on products and financials. This will primarily apply to variable annuity products, but may also include fixed annuities.
- Support statutory and GAAP financial reporting by building analytical tools and/or improving valuation processes and controls
- Partner with Division modeling team to lead user acceptance testing of model updates for fixed and variable annuity models
- Test and quantify the financial impact of valuation assumption and model changes
- Assess the financial impacts of new products, riders, reinsurance treaty terms, and/or valuation methodologies
- Interface with auditors, regulators, state examiners, IRS, and other interested parties
- Maintain documentation of valuation methodologies
- Mentor, develop, or manage a staff of junior professionals
FACTORS FOR SUCCESS:
- Bachelor degree in actuarial science, finance, mathematics or related field or equivalent work experience
- FSA with 6+ years of actuarial or related work experience
- Excellent organizational, communication and interpersonal skills
- Ability to work independently and collaboratively as part of a team, and to manage long-term projects
- Strong quantitative, analytical and problem-solving skills
- Advanced experience with Excel, VBA, and databases
- Creativity and initiative in designing and improving valuation processes
- Solid experience with actuarial modeling software; experience with MoSes or Prophet a plus
- Working knowledge of variable annuities with guaranteed benefits a plus
- Working knowledge of US GAAP and statutory valuation for variable annuities a plus
Join the Pacific Life team and watch your career grow! We offer a competitive compensation and benefits package that includes: • Competitive salary and bonus program • Medical, dental, and vision as part our commitment in 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 vacation time and holiday pay • And much more!
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