Senior Actuary, Enterprise Valuation

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 talented Senior Actuary to join our Enterprise Valuation team in Newport Beach, CA; Omaha, NE; or Charlotte, NC.

As a Senior Actuary, you’ll play a key role in Pacific Life’s growth and long-term success by performing quarter-end calculations of balances with a GAAP accounting framework for the life insurance business. Collaborating across various business areas to provide effective insights and communication of GAAP net income impacts to key stakeholders.

You will fill an existing role that sits on a team of 6 people in the Enterprise division. Your colleagues will include other actuaries and a business analyst.

How you will make an impact:

• Support the GAAP Director in managing the quarter-end deliverables through effective tracking, delegation of tasks and resolution of issues

• Perform quarterly calculations of GAAP balances for life insurance products (LFPB, DPL, DAC & URR, SOP 03-1, PFBL, PHAB, FAS133 reserves).

• Serve as a subject matter expert on GAAP and how GAAP balances for life insurance products are impacted by changes in economic or business conditions.

• Perform analysis to educate senior management and other stakeholders of GAAP impacts and expectations.

• Foster the development of team members by seeking out opportunities for and providing coaching & training to other team members and engaging in regular review & feedback on team members’ work product.

• Ensure the ongoing compliance of GAAP processes with both internal and regulatory governance standards through robust controls and documentation

• Serve as one of the main point of contact for internal and external audit requests

• Identify and pursue opportunities to improve the current state and capabilities of GAAP metrics, analytics & insights for life insurance products, including the exploration of the application of AI.

• Developing new solutions to ad-hoc/sensitivity analyses requested from other functional areas including reinsurance, plan, product design/pricing, etc. Provide support as needed for industry-wide GAAP working group projects.

• Assist with ad-hoc projects and requests supporting the Valuation area as needed.

The experience you will bring:

• Bachelor’s degree in actuarial science, Mathematics, Finance, Economics, Data Science or related field

• Fellow of the Society of Actuaries (FSA) designation required · Strong analytical, interpersonal, and communication skills (both verbal and written)

• Effective time management and multi-tasking skills

What will make you stand out:

• 6+ years' actuarial experience

• Experience with actuarial modeling systems such as FIS Prophet

• Experience with actuarial transformation or modernization initiatives

• Effective and clear communication of results across various stakeholders, including senior management level audiences

• Familiarity with US GAAP and/or Targeted Improvements requirements

• Prior valuation experience

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

You Can Be Who You Are

We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife

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.