Modeling Actuary 10/17/2019
JOB DESCRIPTIONAPPLY Job Description
The Retirement Solutions Division (RSD) is seeking an Actuary to join its Actuarial and Quantitative Modeling (AQM) team. This position can be located in Newport Beach, CA or Omaha, NE.
The AQM team develops models and applications which provide for the pricing, valuation, hedging and risk management of annuity products across RSD. We combine technical expertise with a strong understanding of the underlying business, in partnership with all stakeholders. Alongside our quantitative responsibilities, our strategic goal is toward a more efficient, robust and insightful modeling environment. We align our processes with firm-wide guidelines for model and operational risk management.
Target level is for an Assistant or Associate Actuary with flexibility to consider candidates at other levels. Candidates who meet most but not all of the requirements are encouraged to apply. Actual job offer and title will be based on level of experience and skillset.
In support of the company s steadily growing annuity business, you will be a highly visible member of a team of Actuarial professional responsible for providing modeling solutions to business requests emanating from Pricing, Valuation, Business Planning, Risk Management and Hedging.
* Take ownership and perform tasks related to the Division s model conversion project
* Initiate and conduct multi-channel discussions with various stakeholders including Product Design, Valuation, Risk Management, Hedging and others to understand business requirements and to develop solutions.
* Proactively evaluate and recommend modeling strategies and potential approaches, to find solutions that best address business needs.
* Perform initial development and testing of models, peer review changes made by other team members and act as a resource to functional areas during user acceptance testing.
* Adopt the company principles and requirements pertaining to Model Risk Management and Assumption Governance by supporting company activities around model risk, model documentation, model consistency and transparency.
* Partner with IT and functional areas to develop simple, effective, and innovative solutions to simplify modeling processes
* Support independent periodic model review initiatives.
FACTORS FOR SUCCESS:
* Bachelor s Degree in Actuarial Science, mathematics, finance, computer science or other quantitative related field is preferred.
* 4 or more actuarial exams
* 3 or more years of actuarial experience, preferably with annuities.
* Experience with valuation requirements, financial reporting and accounting principles.
* Strong quantitative, analytical and problem-solving skills.
* Self-starter with ability to develop solutions by collaborating with multiple business partners; customer focus
* Excellent organizational, interpersonal and communication skills
* Experience working with Excel and VBA, as well as SQL. Knowledge of Python, R, Matlab, or grid computing would be advantageous.
* Experience working in actuarial modeling systems such as Prophet or Moses is preferred.
Join the Pacific Life team and watch your career grow! We offer a competitive compensation and benefits package that includes: Competitive salary and bonus program Medical, dental, and vision as part our commitment in investing in the health and wellbeing of our employees Two retirement savings plans: 401k savings plan with company match and Company Retirement Contribution (company-paid) Generous vacation time and holiday pay And much more!
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.
About Pacific Life
For more than 150 years, Pacific Life has offered innovative products and services including life insurance, annuities, and mutual funds, along with a variety of investment products, all of which provide The Power to Help You Succeed. We firmly believe each employee plays a part in our continued growth and success, and we pride ourselves in providing a work environment that is challenging, inclusive, collaborative, and results-oriented. With a powerful past and a strong future, Pacific Life offers an environment where you re empowered to achieve your personal best. In return, we look to your passion and insight to help us grow. For additional company information, including current financial strength ratings, visit www.PacificLife.com.