Senior Actuary, Enterprise Valuation

Pacific Life • Newport Beach, NC

5d

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 Senior Actuary to join our Enterprise Valuation team in Newport Beach, CA; Omaha, NE; or Charlotte, NC. As a Senior Actuary, you’ll play a key role in Pacific Life’s growth and long-term success by performing quarter-end calculations of balances with a GAAP accounting framework for the life insurance business. Collaborating across various business areas to provide effective insights and communication of GAAP net income impacts to key stakeholders. You will fill an existing role that sits on a team of 6 people in the Enterprise division. Your colleagues will include other actuaries and a business analyst.

Requirements

• Bachelor’s degree in actuarial science, Mathematics, Finance, Economics, Data Science or related field
• Fellow of the Society of Actuaries (FSA) designation required
• Strong analytical, interpersonal, and communication skills (both verbal and written)
• Effective time management and multi-tasking skills

Nice To Haves

• 6+ years' actuarial experience
• Experience with actuarial modeling systems such as FIS Prophet
• Experience with actuarial transformation or modernization initiatives
• Effective and clear communication of results across various stakeholders, including senior management level audiences
• Familiarity with US GAAP and/or Targeted Improvements requirements
• Prior valuation experience

Responsibilities

• Support the GAAP Director in managing the quarter-end deliverables through effective tracking, delegation of tasks and resolution of issues
• Perform quarterly calculations of GAAP balances for life insurance products (LFPB, DPL, DAC & URR, SOP 03-1, PFBL, PHAB, FAS133 reserves).
• Serve as a subject matter expert on GAAP and how GAAP balances for life insurance products are impacted by changes in economic or business conditions.
• Perform analysis to educate senior management and other stakeholders of GAAP impacts and expectations.
• Foster the development of team members by seeking out opportunities for and providing coaching & training to other team members and engaging in regular review & feedback on team members’ work product.
• Ensure the ongoing compliance of GAAP processes with both internal and regulatory governance standards through robust controls and documentation
• Serve as one of the main point of contact for internal and external audit requests
• Identify and pursue opportunities to improve the current state and capabilities of GAAP metrics, analytics & insights for life insurance products, including the exploration of the application of AI.
• Developing new solutions to ad-hoc/sensitivity analyses requested from other functional areas including reinsurance, plan, product design/pricing, etc.
• Provide support as needed for industry-wide GAAP working group projects.
• Assist with ad-hoc projects and requests supporting the Valuation area as needed.

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: Mid Level
• Number of Employees: 501-1,000 employees