Company: Pacific Life
Location: Aliso Viejo, CA
Career Level: Associate
Industries: Banking, Insurance, Financial Services
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This Associate or Assistant Actuary works in the Product Design Department of the Life Insurance Division.
- Conduct research activities; Organize and present research findings to support product strategy development.
- Design and price life insurance products taking into consideration all regulations and actuarial guidelines applicable to the products. Support life insurance product implementation.
- Stay current with all regulatory changes and other new pricing or risk management developments that could impact our product lines.
- Provide product design internal peer review and technical support, ensure product development follows product pricing guidelines, meets all regulatory requirements, and meets all internal profit/risk governance standards.
- Provide technical guidance and support to product implementation teams (e.g. IT, Compliance, Marketing, etc.)
- Collaborate with risk management teams and product implementation teams to provide creative solutions to issues encountered in product development process.
- Analyze product development process, recommend enhancement to improve efficiency and quality control.
FACTORS FOR SUCCESS:
- Bachelor's degree in Mathematics, Statistics, Economics, Actuarial Services, or related field
- FSA or ASA designation in the Society of Actuaries with at least 3 years of life insurance product development working experience
- Good understanding of the regulations and actuarial guidelines applicable to life insurance products.
- Knowledge in tax, PBR, GAAP, VNB a plus.
- Able to research and generate creative solutions on various product related issues. Past research, analytic, innovation working experience a plus.
- Strong communication skills to present business solutions in a clear and concise manner and to collaborate effectively with actuarial and non-actuarial partners. Experience in regulatory compliance related work a plus.
- Ability to multi-task and meet tight deadlines with thoughtful planning and effective execution.
- Strong programming skills and experience using actuarial software (e.g. MG-ALFA) a plus.
* Actuaries meet most but not all the requirements are also encouraged to apply. Actual job offer will be based on level of experience
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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