Actuary & Director, Life Insurance Pricing
About the role
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. 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 an Actuary & Director - Life Pricing, you’ll play a key role in Pacific Life’s growth and long-term success by leading product development initiatives for our life insurance business. You will work closely and collaboratively with numerous areas including Pricing and Product Development, Risk Management, Modeling, and Sales within the Consumer Market Division and across the enterprise. This is a new role that sits on a team of 20 people in the Consumer Market division, working in a fast-paced and evolving marketspace where professional judgment, nimble learning, and leadership skills are valued.
Responsibilities
- Lead and develop a pricing team; oversee product pricing activities and perform analysis or duties that require pricing expertise.
- Lead product pricing, support product implementation, and execute project plans with on-time, high-quality deliveries.
- Stay current with all regulatory changes and other new pricing or risk management developments that could impact our product lines.
- Ensure product development follows product pricing guidelines, meets all regulatory requirements, and meets all internal profit/risk governance standards; secure all required product approvals.
- Collaborate with stakeholders, including marketing/sales, investment management, valuation, risk management, legal, and operations, to balance competitiveness, profitability, and risk for the products being priced to deliver leading-edge life insurance products.
- Work with a team of support staff to grow talent and provide development advice and support.
Requirements
- FSA with 10+ years of related experience in actuarial pricing and product development.
- Direct experience developing life insurance products.
- Bachelor’s degree in Actuarial Science, Finance, Mathematics, Computer Science, or related field.
- Strong management, team-building, and communication skills.
- Excellent project management and business partnering abilities.
- Proven leadership with a strong sense of urgency.
- Ability to understand the big picture and mobilize initiatives in ambiguous situations.
- Proficiency in Microsoft Excel.
Skills
- Thought leader with a mindset focused on continuous improvement, sustainability, and scalability.
- Ability to multitask with shifting priorities under tight deadlines.
- Self-starter with strong analytical skills and attention to detail.
- VBA coding experience and proficiency in related programming languages.
- Experience with actuarial modeling and statistical analysis programs, particularly Prophet, R, MG-ALFA, and GGY-AXIS.
Pay
Salary Ranges per Location:
- Newport Beach, CA: $203,760 - $249,040
- Omaha, NE: $175,950 - $215,050
- Charlotte, NC: $185,220 - $226,380
The actual compensation offered will depend on experience, qualifications, and geographic location. Most employees are also eligible for additional incentive pay.
Benefits
Your benefits start on day one and are designed to support your physical, financial, emotional, and social wellbeing.
- Medical, dental, and vision coverage.
- Wellbeing Reimbursement Account that can be used for yourself or eligible dependents.
- Generous paid time off options including Paid Time Off, Holiday Schedules, and Financial Planning Time Off.
- Paid Parental Leave and Adoption Assistance Program.
- Competitive 401k savings plan with company match and an additional contribution regardless of participation.