Senior Actuary (FSA) - Life Profitability Management
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. 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 Life Profitability Management 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 Senior Actuary, you’ll play a key role in Pacific Life’s growth and long-term success through the active management of the inforce life insurance block, including the management of non-guaranteed elements, and building retention and remediation strategies around different business segments.
Requirements
- Bachelor’s degree in Actuarial Science, Mathematics, Computer Science, Data Science, other related fields.
- FSA designation required.
- Experience working with actuarial modeling software (Prophet preferred)
- Experience working with large data sets (e.g., Alteryx, Snowflake) and data visualization software (e.g. Tableau).
- Ability to work independently and collaboratively as part of a team, and to manage long-term projects.
- Detail-oriented with excellent organizational and interpersonal skills.
- Excellent analytical, problem-solving, and decision-making skills.
Nice To Haves
- 6+ years’ actuarial experience preferred
- Experience with life insurance products and features
- Knowledge of GAAP earnings, specifically LDTI
- Understanding of different reinsurance agreements and treaties
Responsibilities
- Annual plan projections and quarterly re-forecasting for our life portfolio.
- Analyze drivers of plan vs. actual results, providing clear explanations and actionable insights to the Financial Planning & Analysis (FP&A) team and senior management.
- Monitor and interpret in-force performance metrics to identify profitability trends and any needed adjustments.
- Assess the impact of non-guaranteed elements (e.g., credited rates) on earnings, giving management early line-of-sight into emerging opportunities or risks.
- Oversee credited rate and index rate setting on the life business, using data driven analysis.
- Partner with Investments, Hedging and Finance to make decisions on rates and spreads and communicate results to management.
- Collaborate with the Enterprise Modeling team to enhance our Prophet models (including coding updates and user acceptance testing).
- Become an SME on the modeling of the entire life suite of products.
- Learn to apply rules of thumb and other estimations for non-modeled items and sensitivity analysis
- Work closely with Finance, FP&A, Asset-Liability Management (ALM), Reinsurance, and other stakeholders on enterprise initiatives involving the annuity in-force block.
- Clearly communicate complex modeling results and recommendations to diverse audiences, from new team members to executive leadership, translating technical findings into actionable business terms
- Identify efficiencies and modernization opportunities in existing processes and lead implementation efforts.
- Develop and utilize AI to drive insights into the business
- Serve as lead reviewer and coach for junior staff members on the team.
Benefits
- Medical
- Dental
- Vision
- Wellbeing Reimbursement Account
- Paid Time Off
- Holiday Schedules
- Financial Planning Time Off
- Paid Parental Leave
- Adoption Assistance Program
- Competitive 401k savings plan with company match and an additional contribution regardless of participation
- Relocation assistance
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What This Job Offers
Job Type
Full-time
Career Level
Senior
