Senior Actuary - Insurance Risk Management

Job Description :

Providing for loved ones, planning rewarding retirements, saving enough for whatever lies ahead - our policyholders count on us to be there when it matters most. It's a big ask, but it's one that we have the power to deliver when we work together. We collaborate and innovate - pushing one another to transform not just Pacific Life, but the entire industry for the better. Why? Because it's the right thing to do. Pacific Life is more than a job, it's a career with purpose. It's a career where you have the support, balance, and resources to make a positive impact on the future - including your own.

We're actively seeking a talented senior actuary to join our Enterprise Insurance Risk Management team in Newport Beach, CA. This role is hybrid. We believe in empowering our employees to get work done both in and out of the office. Candidates open to relocating are encouraged to apply.

Pacific Life seeks to strategically and profitably grow insurance risk. We take on insurance risk both as a direct writer (through the Consumer Market Division, Institutional Division and Workplace Benefit Division) and as a reinsurer (via the international Pacific Life Reinsurance Division) through diverse product offerings and global geographies. This provides a unique opportunity to consider and connect multiple perspectives in creating a consistent view of insurance risk and the business implications. You will contribute to the monitoring and quantification of enterprise-wide insurance risk including mortality, longevity, morbidity, policyholder behaviors, reinsurance, underwriting, etc. and the interactions with other relevant risks.

To support Pacific Life's digital first and data driven strategy, you will work with stakeholders and analytics practitioners across the enterprise to manage the risks in the development and implementation of data analytics strategy including accelerated underwriting, assumptions development, economic capital, and emerging regulatory requirements on the use of AI, etc.

How you will make an impact :

• Collaborate across divisions and functions to support appropriate Economic Capital (EC) modeling, stress calibration and risk aggregation. Ensure existing thinking and approaches are leveraged effectively between divisions.
• Act as a subject matter expert and resource across divisions with respect to insurance decrement assumption setting, as well as the research and development of insurance risk quantification including EC and Value of New Business (VNB) in pricing, valuation and capital management.
• Develop and maintain robust documentation, ensuring the Enterprise approach with respect to insurance risk is clear and accessible.
• Own and improve quarterly monitoring to provide a consolidated and consistent view of the enterprise's insurance risk exposure.
• Support the Head of Insurance Risk Analytics & Oversight, Divisional CROs and the wider Risk function in providing effective second-line challenge and oversight through risk reviews of material transactions or significant new retail products as well as ad-hoc projects.

The experience you will bring :

What will make you stand out :

You can be who you are.

People come first here. We're committed to a diverse, equitable and inclusive workforce. Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at www.pacificlife.com. What's life like at Pacific Life? Visit Instagram.com / lifeatpacificlife.

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Base Pay Range :

The base pay range noted represents the company's good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location. Also, most employees are eligible for additional incentive pay.

159,660.00 - $195,140.00

Your Benefits Start Day 1

Your wellbeing is important to Pacific Life, and we're committed to providing you with flexible benefits that you can tailor to meet your needs. Whether you are focusing on your physical, financial, emotional, or social wellbeing, we've got you covered.

EEO Statement :

Pacific Life Insurance Company is an Equal Opportunity / Affirmative Action Employer, M / F / D / V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company.

Salary : $159,660 - $195,140