Senior Actuary - Life R&D

Job Description:

Providing for loved ones, planning rewarding retirements, and 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 - Life R&D to join our Research and Development team in Newport Beach, CA or Omaha, NE. Applicants open to relocating to one of these locations are encouraged to apply.

As a Senior Actuary - Life R&D, you’ll move Pacific Life and your career forward by researching, developing, and testing innovative and market-driven life insurance products and offerings. You will join a team of 4 on the Innovation and R&D Strategy team and collaborate with stakeholders, both externally and across various Pacific Life departments, to develop product solutions that address key customer needs and meet pricing and risk targets.

How You’ll Help Move Us Forward:

• Drive Product Research and Pricing Projects: Assist in the design and pricing of innovative life insurance products that are competitive and attractive in the industry.

• Complete R&D pricing activities: Collaborate with R&D team and other stakeholders to advance the research and development and viability phases, providing solutions to challenges encountered in product development.

• Actuarial Research Expertise: Perform duties or analyses requiring actuarial research expertise including modeling new features and understanding pricing levers.

• Educational Materials Development: Actively participate in creating valuable, insightful educational materials and tools for financial professionals (FPs) and their clients to help them understand the benefits and risks of our product features.

• Ensure Alignment with Strategies: Ensure the product development process aligns with divisional and enterprise product and risk strategies.

• Feedback Collection and Analysis: Partner with product intelligence team to collect feedback on existing products' performance and unmet market needs to identify necessary corrective actions, such as developing competitive, data-driven product enhancements.

• Risk Identification: Identify key risks and option trade-offs within product ideas to support decision-making. Encourage innovation by questioning conventional practices.

• Stakeholder Communication: Present internal projects to key stakeholders, ensuring alignment with business objectives and transparent communication  during the early stages to avoid costly late-stage surprises.

• Technical Support: Provide technical support to implementation teams, including IT, Compliance, Marketing, Product Design, Modeling, and others as needed.

The Experience You Bring:

• Qualified Fellow of the Society of Actuaries (FSA) with experience in actuarial pricing, product development, and modeling. 

• 6+ years of actuarial experience with a bachelor’s degree in actuarial science, computer science, finance, mathematics, or related field

• Self-starter with ability to work independently and collaboratively as part of a team, and to manage long-term projects. Ability to see the big picture, drive initiatives with impact, and manage stakeholder expectations effectively. 

• Exceptional organizational, analytical and strategic thinking abilities.

• In-depth knowledge of the economic, industry, and regulatory factors shaping life products.

• Excellent communication and presentation skills.

• Ability to thrive in a fast-paced dynamic environment.

What Will Make You Stand Out:

• Prior experience across multiple domains that impact life R&D, such as: pricing, hedging, reinsurance, ALM, and investments.

• Demonstrated commitment to staying current with industry trends, emerging technologies and best practices related to life products and financial services.

You can be who you are.
 

People come first here. We’re committed to an inclusive workforce. Learn more about how we create a welcoming work environment at www.pacificlife.com. What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife. 
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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

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.