Director Actuary - Annuity Product Management

Pacific Life • Newport Beach, NC

23h • Hybrid

About The Position

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 Director Actuary, Annuity Product Management to join our Consumer Markets Division (CMD) Product Development Team. This role is on-site 4 days per week and work from home 1 day per week in Newport Beach, CA, Omaha, NE, or Charlotte, NC. If you are not currently located near one of our offices, we offer comprehensive relocation assistance. As a Director Actuary, Annuity Product Management, you will play a key and visible role in Pacific Life's growth and long-term success by leading an actuarial team who is actively reporting and managing our annuity suite of products. This includes a quarterly business review (QBR) of new business profitability which will highlight key competitive movements, profitability trends, emerging issues, and key risks. You will partner with key stakeholders both within and outside Product Development. This includes Investments, Capital Management, Hedging, Inforce Management, Valuation.

Requirements

• 8+ years of experience with thorough knowledge of annuity products
• FSA designation
• Experience developing and managing a team
• Demonstrated ability to apply sound judgment in ambiguous or imperfect situations
• Clear, concise communicator able to explain “what changed, why, and what it means”
• Ownership mindset with accountability for outcomes

Nice To Haves

• Ability to collaborate with a variety of different functional area
• Attention to detail; well organized with ability to multi-tasks
• Previous annuity pricing experience
• Track record of improving or modernizing actuarial processes
• Strong understanding of different balance sheet frameworks: US Stat, Bermuda, Economic (including MCVNB)
• Ability to apply critical thinking to proactively probe questions that would be raised from senior management given any circumstances

Responsibilities

• Identify and implement operational & modeling efficiencies into current processes
• Collaborate with both annuity pricing and rate setting teams to achieve seamless transitions of information needed between the three teams
• Test and implement new assumptions into all pricing models through experience study assumption testing and communicate impacts to pricing team and senior leadership
• Manage and develop a team of four.
• Develop junior staff in satisfying the Division’s goals through timely, efficient completion of projects and innovative processes
• Perform analysis on sales and capital projections, manage profitability under different pricing metrics including statutory and economic views
• Implement and ensure compliance of Enterprise Pricing Policy in the Product Development’s Pricing models and processes
• Help implement new balance sheet framework into the Pricing models by working closely with the Enterprise teams and Model Development team
• Collaborate with other teams to examine and help execute ideas and levers to lift pricing power and drive sales with an understanding and ability to explain the tradeoffs of those levers

Benefits

• 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

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed
• Number of Employees: 501-1,000 employees