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Pacific Life Insurance Company

Pacific Life Insurance Company

Associate Actuary - Product Design

Associate Actuary - Product Design

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Job Details
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Uploaded On
August 18, 2023
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Location
Newport Beach, United States
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Remote?
No
Salary
$
138
k-$
173
k
Glassdoor Ratings
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Recommend to a Friend
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Overall Score
[ Job Description:

Pacific Life is looking to invest in bright, agile new talent to ensure we continue to innovate, strengthen relationships with our policyholders and solidify our competitive positioning. It's in this spirit that we are currently looking to add an Associate Actuary to join our Product Design team in Newport Beach, CA.

As an Associate Actuary on the Product Design team, you will play a key role in Pacific Life's growth and long-term success. This position will report to a Director. While we aim to hire at the Associate level. Candidates who meet most but not all requirements are encouraged to apply. Actual job title will be based on experience and skillset.

How you'll make an impact:
  • Participate in market, product research and pricing activities aligned with divisional and enterprise pricing guidelines
  • Drive assumptions specific to new concepts and secure relevant approvals
  • Stay current with all the regulatory changes and other new pricing or risk management developments that could impact product pricing for the product lines the team supports
  • Own pricing models during the pricing process and maintain appropriate documentation
  • Collaborate with other stakeholders (e.g. ALM, investment, reinsurance, ...) to research creative solutions to better support our growing product development needs (e.g. risk mitigation and hedging strategies for new products).
  • Stay on top of emerging technology and research how they can be leveraged to further solidify PL competitive positioning.


The experience you'll bring:
  • Bachelor's degree in Mathematics, Statistics, Economics, Actuarial Services, or related field
  • FSA with 6+ years of experience in life insurance and product development
  • Good understanding of the regulations and actuarial guidelines applicable to life insurance products.
  • Ability to research and generate creative solutions on various product related issues.
  • Strong communication skills to present business solutions in a clear and concise manner and to collaborate effectively with actuarial and non-actuarial partners.
  • Strong research/analytic capability and innovative thinking.


What will make you stand out:
  • Modeling experience (ideally with Prophet)


Want to learn more about life at Pacific Life? Take an inside look at our company culture: Instagram.com/lifeatpacificlife.

#LI-TM1 #LI-Hybrid

Base Pay Range:

The base pay range noted provides a basis to determine the appropriate offer dependent upon several factors including but not limited to geographic location, experience, skills, education and pay equity. Also, most employees are eligible for additional incentive pay.

$138,400.00 - $173,000.00 - $233,600.00

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. ]
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Working at 

Pacific Life Insurance Company

Pacific Life Insurance Company is a reputable and long-standing provider of life insurance, annuities, and investment solutions. With a rich history spanning over 150 years, Pacific Life has established itself as a trusted name in the industry, known for its financial strength and stability. Actuaries play a crucial role at Pacific Life, utilizing their expertise in risk assessment and management to develop innovative and competitive products. They analyze vast amounts of data, conduct in-depth calculations, and employ advanced statistical models to determine appropriate pricing and risk levels for insurance and investment offerings. Actuaries collaborate closely with cross-functional teams, including underwriters and product managers, to ensure the company's products meet the needs of its diverse customer base. Pacific Life recognizes the value of continuous professional development and supports its actuaries in pursuing actuarial exams and further enhancing their skills. Through comprehensive training programs, mentorship opportunities, and access to industry seminars, actuaries at Pacific Life can stay at the forefront of the field and expand their knowledge. Joining Pacific Life as an actuary means becoming part of a dynamic and inclusive work environment, dedicated to innovation and excellence. Actuaries can expect competitive compensation packages, comprehensive benefits, and a supportive culture that values work-life balance. By joining Pacific Life, actuaries have the opportunity to make a meaningful impact in the lives of individuals and families by helping them secure their financial future with reliable insurance and investment solutions.