Associate Actuary - Institutional Pricing

Job Description

Pacific Life is investing in bright, agile and diverse talent to contribute to our mission of innovating our business and creating a superior customer experience. We’re actively seeking a talented Assistant Actuary to join the Institutional Pricing Team in Newport Beach, CA.

Location is flexible allowing you to sit in Newport Beach, CA, Omaha, NE, or Lynchburg, VA. This role can be onsite, on a hybrid schedule into an office, or fully remote for the right candidate (depending on location).

As an Associate Actuary on the Pricing team within the Institutional Division (ID), you will play a key role in Pacific Life’s growth and long-term success. You will be responsible for the development and pricing of new products rollouts in the rapid growing DCLI market.

While our team aims to hire at the Associate Actuary level, candidates who meet most but not all requirements are encouraged to apply. Actual job title will be based on experience and skillset.

How You Will Make An Impact

• Research, design and develop pricing models/prototypes in sophisticated software (Python, Turbo, etc.…) for new DCLI products.
• Support assumption setting, product design and product approval.
• Identify key risks in new product initiatives and quantifying financial impacts of the risk by designing and performing attribution and sensitivity analysis.
• Effectively communicate findings to stakeholders from pricing, product development, risk management and other relevant areas.
• Collaborate with all stakeholders, including marketing/sales, investment management, valuation, risk management, legal, and operations, to balance the competitiveness, profitability, and risk.
• Assist in implementing products for new business pricing and operational readiness.
• Implement assumption and methodology changes to pricing models, complying with all model risk management standards, especially documentation and testing requirements.
• Identify areas of potential improvements and recommend/implement solutions with emphasis on innovation, efficiency, and governance.
  
  

The Experience You Will Bring

• Minimum 4 years of actuarial experience and working towards FSA designation in the Society of Actuaries.
• Advanced experience in Excel with VBA coding proficiency.
• Strong technical skills in a variety of actuarial platforms (Turbo, Python) and/or the ability to quickly learn new technology platforms.
• Ability to work independently and collaboratively as part of a team as well as manage long-term projects.
  
  

What Will Make You Stand Out

• Solid experience with actuarial modeling software.
• Experienced with Turbo, Python.
• Prior experience in annuity/life actuarial capacity.
• Solid understanding of the financial metrics and key drivers for pricing results.
  
  

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.

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.

$121,770.00 - $148,830.00

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.

• Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your eligible dependents
• Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off
• Paid Parental Leave as well as an Adoption Assistance Program
• Competitive 401k savings plan with company match and an additional contribution regardless of participation
  
  

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.