The Retirement Solutions Division (RSD) is seeking an Actuarial professional to join its Pricing team. In Pricing, we are responsible for feasibility analysis and new product pricing on fixed annuities, variable annuities and structure settlement annuities. In support of the company's rapidly growing annuity business, you will be collaborating with technical & non-technical audiences within and outside the Product Design department. You will develop an understanding of the product design, profitability and risk profile across all types of annuities.
Target level is for a Senior Actuarial Analyst 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 skill set.
Pricing Responsibilities include:
- Support new product development and pricing that meet both target market and profit/ risk objectives. Develop deeper understanding on entire RSD product offerings including Variable Annuities, Fixed Annuities, and Individual Payout Annuities.
- Support internal efforts to secure necessary product pricing and Pricing Guidelines approvals with high visibility to senior management
- Enhance pricing models and pricing framework/metrics for all product development
- Partner with Product Architecture and Sales to strategize product delivery and pricing position for market needs
- Work closely with Product Analytics for setting assumptions through experience studies
- Partner with Risk and Valuation to provide in-depth analysis on the risk profile and regulatory requirement of new products
- Assist Profitability Management and In-Force Management to provide support on product maintenance and post-sales activities
Modeling Responsibilities include:
- Perform Core Model UAT to upgrade models in Product Design by collaborating with AQM and Profitability Management.
- Participate in RSD model platform conversion initiatives by contributing towards the new modeling software platform analysis and conversion process.
- Developing/upgrading tools to enhance Pricing analysis
FACTORS FOR SUCCESS:
- 2+ years of actuarial working experience in a financial institution or insurance company
- Bachelor's degree in Actuarial Science, Mathematics, Computer Science, other related field
- Successful completion of at least 3 SOA exams
- Strong working knowledge in Microsoft Excel; Programming experience desired but not required
- Experience with MoSes or similar actuarial software is a plus
- Attention to detail; well organized with ability to multi-task
- Strong quantitative, analytical and problem-solving skills
- Effective communication skills to present business solutions in a clear and concise manner
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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