Director Actuary - Index Hedging

Pacific Life•Newport Beach, CA

2d•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, Index Hedging Strategy and Operations to join our Pacific Life Investments (PLI) Enterprise ALM team in Newport Beach, CA. This role is on-site 4 days per week and work from home 1 day per week. As a Director Actuary, Index Hedging Strategy and Operations you will play a key and visible role in Pacific Life's growth and long-term success by executing on strategic objectives to manage enterprise-wide risk and competitiveness. You will lead a team of actuaries and financial professionals to develop, implement, and operate index hedging solutions for FIA, IUL, and RILA products. You will partner with key stakeholders from across the organization including Derivative Investments, Enterprise Valuation, Product Development, and Finance to ensure efficient hedge operations and effective reporting and oversight. How you’ll help move us forward: Own the development, implementation, and operation of indexed account edging programs including IUL, FIA, and RILA Effectively communicate hedging performance results to key stakeholders in Finance, Product Development, PLI Derivatives, Treasury, Inforce Management, etc. to ensure clear understanding on hedging financial impacts Lead new indexed account product hedging strategy analysis, development, and ultimately the hedge program recommendation for approval Partner with Product Development on new product market risks and hedging mitigation analysis, including exotic option pricing. Influence Product in their design through prioritizing and balancing hedge effectiveness and efficiency Lead the indexed account hedging team through the development and implementation of enhancements to operational processes, controls, and governance Proactively report, address, recommend for approval, and ultimately implement any hedge breakage solutions and program enhancements prioritizing and balancing process efficiency and effective governance while emphasizing innovation Lead and develop a team of Actuarial and finance professionals that effectively contributes to the Hedging Team, Department, and PL goals

Requirements

7+ years of experience with thorough knowledge of life insurance and annuity products and an FSA designation
Experience developing and managing hedging strategies or other risk mitigation programs
Ability to lead and develop a team under a shared vision
Strong analytical skills to analyze market risk exposures and develop risk mitigation programs
Solid experience in financial markets, investments, and quantitative finance, including option pricing
Strong written and verbal communication skills to effectively represent index hedging strategies and operations
Experience with Python, Bloomberg, Tableau, or related software

Nice To Haves

Extensive experience in Hedging and ALM concepts
Ability to collaborate with a variety of different functional areas
Experience managing a diverse team and executing upon a shared vision

Responsibilities

Own the development, implementation, and operation of indexed account edging programs including IUL, FIA, and RILA
Effectively communicate hedging performance results to key stakeholders in Finance, Product Development, PLI Derivatives, Treasury, Inforce Management, etc. to ensure clear understanding on hedging financial impacts
Lead new indexed account product hedging strategy analysis, development, and ultimately the hedge program recommendation for approval
Partner with Product Development on new product market risks and hedging mitigation analysis, including exotic option pricing. Influence Product in their design through prioritizing and balancing hedge effectiveness and efficiency
Lead the indexed account hedging team through the development and implementation of enhancements to operational processes, controls, and governance
Proactively report, address, recommend for approval, and ultimately implement any hedge breakage solutions and program enhancements prioritizing and balancing process efficiency and effective governance while emphasizing innovation
Lead and develop a team of Actuarial and finance professionals that effectively contributes to the Hedging Team, Department, and PL goals

Benefits

Prioritization of your health and well-being including Medical, Dental, Vision, and a 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

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