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Pacific Life Insurance Company

Pacific Life Insurance Company

Actuary & Director - Model Risk Management

Actuary & Director - Model Risk Management

Job Details
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Uploaded On
October 16, 2023
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Location
Newport Beach, United States
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Remote?
No
Company Overview
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Headquarters
Newport Beach, CA
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Number of Employees
3000
Estimated Number of Actuaries
204
Salary
$
168
k-$
210
k
Glassdoor Ratings
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Recommend to a Friend
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Overall Score
[ Job Description:

Pacific Life is investing in bright, agile, and diverse talent to contribute to our mission of innovating our business and creating a superior customer experience. We are actively seeking a talented Director & Actuary to join our Model Risk Management team in Newport Beach, CA.

As a Director & Actuary, you will play a key role in Pacific Life's growth and long-term success by working closely across the Enterprise to review all types of models, e.g. Financial Reporting, Pricing and Product Development, Economic and Forecasting. This individual will report directly to the AVP - Model Risk Management within Corporate ERM.

How you will make an impact:
  • Ensure efficient and effective execution of model validations, with clear communication of results to the model owner, senior leaders, and governance committees
  • Partner on Finance and Actuarial Transformation initiatives to provide second-line effective challenge on significant changes to the end-to-end modeling environment
  • Partner with model developers and business users to embed the MRM Framework (policies, standards, templates) and facilitate effective model governance practices and controls
  • Ensure accurate tracking and reporting of model risk data elements (e.g., inventory, risk assessments, issues)
  • Collaborate with stakeholders in the first-line modeling and actuarial communities and second-line risk pillars
  • Stay current on emerging actuarial topics and modeling techniques and software


The experience you will bring:
  • 8+ years of actuarial experience with an FSA designation
  • Deep experience in Life products, in areas of actuarial modeling, financial reporting, forecasting, and/or economic valuation
  • Clear understanding of model governance principles and the model life cycle
  • Creativity and initiative in work product; challenge and influence in a constructive manner
  • Demonstrated project management, leadership, communication, and interpersonal skills
  • Bachelor's degree in actuarial science, mathematics, computer science or a related quantitative field


What will make you stand out:
  • Experience in performing model validations
  • Experience working in Prophet
  • Familiarity with C#, Python, Visual Basic, SQL or other programming languages

Want to learn more about life at Pacific Life? Take an inside look at our company culture: Instagram.com/lifeatpacificlife.

#LI-TM1 #LI-Hybrid

Base Pay Range:

The base pay range noted provides a basis to determine the appropriate offer dependent upon several factors including but not limited to geographic location, experience, skills, education and pay equity. Also, most employees are eligible for additional incentive pay.

$168,200.00 - $210,200.00 - $294,300.00

Your Benefits Start Day 1

Your wellbeing is important to Pacific Life, and we're committed to providing you with flexible benefits that you can tailor to meet your needs. Whether you are focusing on your physical, financial, emotional, or social wellbeing, we've got you covered.

  • 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


EEO Statement:

Pacific Life Insurance Company is an Equal Opportunity /Affirmative Action Employer, M/F/D/V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company. ]
Apply Now

Working at 

Pacific Life Insurance Company

Pacific Life Insurance Company is a reputable and long-standing provider of life insurance, annuities, and investment solutions. With a rich history spanning over 150 years, Pacific Life has established itself as a trusted name in the industry, known for its financial strength and stability. Actuaries play a crucial role at Pacific Life, utilizing their expertise in risk assessment and management to develop innovative and competitive products. They analyze vast amounts of data, conduct in-depth calculations, and employ advanced statistical models to determine appropriate pricing and risk levels for insurance and investment offerings. Actuaries collaborate closely with cross-functional teams, including underwriters and product managers, to ensure the company's products meet the needs of its diverse customer base. Pacific Life recognizes the value of continuous professional development and supports its actuaries in pursuing actuarial exams and further enhancing their skills. Through comprehensive training programs, mentorship opportunities, and access to industry seminars, actuaries at Pacific Life can stay at the forefront of the field and expand their knowledge. Joining Pacific Life as an actuary means becoming part of a dynamic and inclusive work environment, dedicated to innovation and excellence. Actuaries can expect competitive compensation packages, comprehensive benefits, and a supportive culture that values work-life balance. By joining Pacific Life, actuaries have the opportunity to make a meaningful impact in the lives of individuals and families by helping them secure their financial future with reliable insurance and investment solutions.