Senior Actuary - PRT Pricing

Job Description:

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 Senior Actuary to join our team in Newport Beach, CA or Omaha, NE. This role follows a hybrid schedule of four days in the office (on-site). If you are not currently located near one of our offices, you will be required to relocate. As a Senior Actuary, you'll play a key role in Pacific Life's growth and long-term success by leading the pricing of transactions for our Pension Risk Transfer (PRT) business.

You will work closely and collaboratively with numerous areas including Pricing and Product Development, Risk Management, and Modeling within the Institutional Division and across the enterprise. The Institutional Division is rapidly growing and highly innovative, offering a unique opportunity to further strengthen the pricing process, apply creative problem-solving, and develop expertise in pricing innovative products that are new to both the company and the broader insurance industry.

You will fill a new role that sits on a team of 15 people in the Institutional division. Your colleagues will include actuaries and analysts who have a wide range of expertise. The PRT Pricing team works in a fast paced and evolving market space, and we value professional judgment, nimble learning, and technical expertise. Candidates who meet most but not all requirements are encouraged to apply.

How you will make an impact:

• Collaborate with Product and Sales teams to develop strategic bidding strategies tailored to achieve divisional sales and Pacific Life enterprise goals.

• Ensure accurate review and interpretation of defined benefit plan documents and summaries to understand plan provisions.

• Collaborate with sales and operations throughout the PRT life cycle from bid acceptance to onboarding and inforce management. Present and defend pricing results to key stakeholders, including head of pricing, risk management, and other senior management to receive support for transactions.

• Perform pricing and sensitivity analysis for PRT cases. Monitor and review actuarial pricing models to ensure accuracy and compliance with regulations.

• Ensure adherence to company policies and procedures.

• Continue to enhance a sustainable and smooth target operating model for pricing transaction processes.

• Continuously improve efficiency in the pricing process and develop insights and analytics to facilitate data driven and risk smart decision making.

• Document projects in accordance with established guidelines.

• Comply with standards declared by the Actuarial Standards Board and other applicable bodies (SEC, Accounting Standards Board, etc.), as well as the requirements of state and federal regulations.

• Deliver information required to support regular decision-making processes in a timely and accurate manner.

• Perform other duties assigned by management and actuarial projects in support of the Pension Risk Transfer business.

The experience you will bring:

• Recent FSA designation

• Bachelor's degree in Actuarial Science, Finance, Mathematics, Computer Science, or related field or equivalent work experience.

• Strong written and oral communication skills, including the ability to communicate to a wide range of stakeholders with different backgrounds and at executive levels.

• Well organized with proven experience in handling multiple projects and meeting tight deadlines.

• Strong problem-solving skills, excellent strategic and critical thinking.

• Detail oriented with ability to work independently and collaboratively as part of a team.

• Ability to deliver timely, organized, and consistent results.

• Proficiency in Microsoft Excel is required.

• Strong written and verbal communication skills.

What will make you stand out:

• Direct experience with Pension Risk Transfer or Annuity products

• Thought leader with a continuous improvement mindset, able to creatively drive enhancements to current practices and methodologies.

• Ability to multi-task with shifting priorities, with a strong sense of urgency under tight deadlines

• Self-starter with strong analytical skills and attention to detail.

• Preferred skills include programming experience (R, Python, VBA), data visualization tools (Tableau, Power BI), and database management (SQL, Snowflake).

• Experience with actuarial modeling systems, particularly Prophet, including Prophet coding, results analysis, and adhering to model best practices.

You can be who you are.

People come first here. We're committed to an inclusive workforce. Learn more about how we create a welcoming work environment at www.pacificlife.com. What's life like at Pacific Life? Visit Instagram.com/lifeatpacificlife.

Compensation Range

Newport Beach, CA base: $163,620 - $199,980

Omaha, NE base: $141,300 - 172,700

Base Pay Range:

The base pay range noted represents the company's good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location. Also, most employees are eligible for additional incentive pay.

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.