Reporting to Product Design AVP, this Director will lead product related research, design and pricing activities in Life Insurance Division.
Target level is for a Director & Actuary with flexibility to consider candidates at other levels. Candidates who meet most but not all of the requirements are encouraged to apply. Actual job offer and title will be based on level of experience and skillset.
- Plan and execute research activities; Organize and present research findings to support product strategy development.
- Lead product pricing, support product implementation, execute project plan with on time high quality deliveries.
- Stay current with all regulatory changes and other new pricing or risk management developments that could impact our product lines.
- Ensure product development follows product pricing guidelines, meets all regulatory requirements, and meets all internal profit/risk governance standards. Secure all required product approvals.
- Provide technical guidance and support to product implementation teams (e.g. IT, Compliance, Marketing, etc.)
- Collaborate with related stakeholders and teams to resolve issues encountered in product development process.
- Analyze product development process, recommend enhancement to improve efficiency and quality control.
- Work with direct reports to establish development goals, evaluate their performance, and provide development advices and support. Conduct annual performance review.
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 6 years of life insurance product development working experience
- Good understanding of the regulations and actuarial guidelines applicable to life insurance products.
- Strong knowledge in tax, PBR, GAAP, VNB a plus.
- Able to research and generate creative solutions on various product related issues.
- Strong research/analytic capability and innovative thinking 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 lead multiple projects and meet tight deadlines with thoughtful planning and effective execution.
- Experience of managing major life insurance product design and implementation a plus.
- At least two years of experience in managing and developing actuarial staff
- Experience using actuarial software (e.g. MG-ALFA) 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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