Pacific Life is looking to invest in bright, agile new talent to ensure we continue to innovate and strengthen relationships with our policyholders. It's in this spirit that we are currently looking to add a credentialed Director and Actuary to join our Retirement Solutions Division.
As an actuary on the Variable Annuities Valuation team within the Retirement Solutions Division, you will play a key role in Pacific Life's growth and long-term success. This role is responsible for leading the preparation of statutory and tax reserves and capital for the Company's Variable Annuity (VA) business. This includes reporting of valuation results, review of methodologies and assumptions, communication throughout the Company, working closely with internal and external auditors, and development of staff.
*Location is flexible to include Newport Beach, CA or Omaha, NE.
*While our team aims to hire at the Director & Actuary level, candidates who meet most but not all requirements are encouraged to apply. Actual job title will be based on experience and skillset.
What You'll Do
- Manage and direct the VA statutory and tax valuation function, ensuring accurate and timely calculation, reporting, and interpretation of reserves and capital (including risk-based capital and other capital metrics)
- Institute and maintain proper controls and processes consistent with the Company's Internal Controls over Financial Reporting, Assumption Governance, and Model Risk Management policies
- Ensure that valuation results and processes reflect new products and riders, are regulatory compliant, and align with industry common practices
- Monitor regulatory environment, and review and implement changes in regulations and accounting guidance
- Communicate valuation results, reserve practices, strategies, capital implications and issues to Division and Company management and auditors
- Collaborate with colleagues in other departments and divisions. Interact closely with management and senior management of the Valuation, Product Design, Risk Management, and Finance departments. Build strong relationships and seek to provide actuarial interpretation and expertise to others throughout the organization.
- Lead and develop a staff of actuarial professionals by providing insight and guidance, setting and communicating clear objectives and expectations, providing stretch assignments based on each employee's skills and level, and providing knowledge transfer, coaching and support
- Help staff manage time, drive projects to completion, communicate results, and increase visibility throughout the organization
We're not simply looking for actuaries. Our teams search for professionals with intellectual horsepower who can build relationships outside of their team and bring fresh new ways of thinking to our collaborations. If you're a creative, mission-driven self-starter who's comfortable with ambiguity, and who thrives in a fast-paced, collaborative environment, you're a perfect fit for our team.
Factors for Success
- Bachelor degree in actuarial science, finance, mathematics or related field or equivalent work experience
- FSA with 10+ years of actuarial experience
- Strategic thinking: Ability to analyze changing circumstances and develop the best path forward, and to introduce innovative ideas and approaches in support of broader goals
- Excellent organizational skills, and ability to manage long-term projects
- Strong judgement, resourcefulness, and ability to bring together different resources
- Ability to work independently and collaboratively as part of a team
- Excellent communication, relationship-building, and interpersonal skills
- Strong quantitative, analytical and problem-solving skills
- Creativity and initiative in designing and improving valuation processes
- Advanced experience with Excel, VBA, and databases
- Working knowledge of variable annuities with guaranteed benefits a plus
- Working knowledge of statutory valuation for variable annuities a plus
- Solid experience with actuarial modeling software; experience with MoSes or Prophet a plus
A career at Pacific Life is more than a job. You'll find those who work passionately each day to drive our company forward enjoy 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 200 Company, you're the perfect cultural fit for our team. See how we harness the Power of Pacific to fulfill our shared purpose – apply for one of our positions and grow your career with Pacific Life today!
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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