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    Manager & Associate Actuary - Pension Risk Transfer Pricing - Newport Beach, CA, United States - Pacific Life

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    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 career where you have the support, balance, and resources to make a positive impact on the future – including your own.

    This fulltime role can be on-site, hybrid, or 100% remote (depending on location).

    As a Manager & Associate Actuary you'll play a key role in Pacific Life's growth and long-term success by leading the transaction pricing team for our Pension Risk Transfer (PRT) business.

    You will work closely and collaboratively with numerous areas including Pricing and Product Development, Risk Management, Modeling within the Institutional Division and across the enterprise.


    How you'll help move us forward:
    Lead a team of actuarial students and pricing analysts in the transaction process.

    Responsible for supporting the development of pricing and product solutions for pension risk transfer and leading a team of actuaries and/or para-actuaries to achieve profitable growth.

    Ensure accurate review and interpretation of defined benefit plan documents and summaries to understand plan provisions.
    Collaborate with sales and operations throughout the whole process from accepting and rejecting deals to onboarding.
    Manage PRT pricing schedules to optimize workflows and capacity.
    Maintain a detailed understanding of insurance and pension industry trends and dynamics

    Present and defend pricing results to key stakeholders, including head of pricing, risk management, and other senior management to receive support for transactions.

    Monitor profitability and business performance to create feedback loop for future pricing.
    Monitor and review actuarial pricing models to ensure accuracy and compliance with regulations.
    Ensure adherence to company policies and procedures.

    Lead inforce management activities for PRT, including the management of calculations and onboarding cases to ensure data is of sufficient quality for financial reporting and valuation purposes.

    Design and continue to enhance a sustainable and smooth target operating model for pricing transaction processes.
    Identify business needs and resource knowledge, and continue to bridge the gap through upskilling strategies and process enhancement. Continuously improve efficiency in the pricing process and develop insights and analytics to facilitate 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.), Provide overall support, assistance, direction, and communication to leaders regarding PRT market opportunity profit and risk analysis.

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

    FSA with 6+ years of related experience, deep expertise in actuarial pricing and product development is a plus.
    Direct actuarial experience with Pension Risk Transfer products.
    Bachelor's degree in Actuarial Science, Finance, Mathematics, Computer Science, or related field or equivalent work experience.
    Strong manager and team builder, with ability to manage both actuarial students and non-actuarial students.

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

    Strong project management and business partnering skills, with an ability to build relationships and collaborate within the team and across the organization.

    Well organized with proven experience in handling multiple projects and meeting tight deadlines.
    Proficiency in Microsoft Excel is required.
    FSA with 10+ years of strong actuarial work experience.
    Prior experience with Pension Risk Transfer transaction pricing is required.
    Bachelor's degree in Actuarial Science, Finance, Mathematics, Computer Science, or related field or equivalent work experience.
    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
    VBA coding experience is preferred.
    VBA or other related programming (R, Python), data visualization, and database skills a plus.
    Experience with actuarial modeling systems, particularly Prophet, and interpreting results.

    Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at What's life like at Pacific Life? We're committed to providing 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 a 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

    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
    Paid Time Off, Holiday Schedules, and Financial Planning Time Off

    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.



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