Senior Actuary, Model Risk
About The Position
Pacific Life is seeking a Senior Actuary, Model Risk Management, to join its team in Newport Beach, California. This hybrid role offers broad exposure across life, annuities, institutional, and workforce benefits businesses. The Senior Actuary will lead independent model reviews, challenge complex actuarial models, and present conclusions to model owners and senior leaders. The role reports to the AVP of Model Risk Management and offers visibility across Pacific Life’s products and functions. The role leads comprehensive reviews of financial reporting, pricing, forecasting, and economic models, providing practical recommendations to model owners, senior leaders, and risk committees. It challenges methodologies and assumptions, identifies material risks, and drives meaningful improvements. The position also provides guidance on efficient modeling techniques and governance practices, and collaborates with Model Risk Directors and data science colleagues to strengthen the model risk framework, tools, and practices. The Senior Actuary is expected to stay current on emerging modeling practices, technologies, and regulatory developments.
Requirements
- FSA designation with at least 5 years of relevant actuarial experience.
- Hands-on experience in one or more of the following areas: life or annuity valuation, pricing, forecasting, ALM, hedging, or economic capital.
- Demonstrated experience reviewing, developing, or validating complex actuarial models.
- Strong actuarial judgment and the ability to identify material issues beyond calculation accuracy.
- Experience leading projects, managing competing priorities, and communicating conclusions to senior stakeholders.
- Ability to work independently and get up to speed quickly in unfamiliar areas.
Nice To Haves
- Experience with Prophet or other actuarial modeling platforms.
- Prior model validation or second-line risk experience.
- Coding skills such as Python, R, or SQL, and familiarity with emerging AI tools and predictive modeling.
- Working knowledge of principle-based reserving, LDTI, or asset adequacy testing.
Responsibilities
- Lead comprehensive reviews of financial reporting, pricing, forecasting, and economic models.
- Provide clear, practical recommendations to model owners, senior leaders, and risk committees.
- Challenge methodologies and assumptions, identify material risks, and drive meaningful improvements.
- Provide expert guidance on efficient modeling techniques and robust governance practices.
- Work with Model Risk Directors and data science colleagues to strengthen the model risk framework, tools, and practices.
- Stay current on emerging practices, modeling techniques, technologies, and regulatory developments.
Benefits
- Medical, dental, and vision coverage.
- Wellbeing Reimbursement Account for eligible employees or dependents.
- Paid time off, holiday schedules, and Financial Planning Time Off.
- Paid parental leave.
- Adoption assistance program.
- 401(k) savings plan with company match and an additional contribution regardless of participation.
- Some employees are eligible for additional incentive pay.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
