Senior Actuarial Manager

7 days ago

Newport Beach, California, United States Pacific Life Full time
Position Overview

Role Summary:

At Pacific Life, we are dedicated to ensuring financial security for our clients, assisting them in planning for fulfilling retirements, and preparing for future uncertainties. Our policyholders rely on our expertise and commitment, and we strive to meet their expectations through collaboration and innovation. Joining our team means becoming part of a mission-driven organization where your contributions can make a significant difference.

We are currently looking for a skilled Senior Actuarial Manager to lead our pricing team focused on Pension Risk Transfer (PRT) initiatives. This position offers flexibility in work arrangements, including options for on-site, hybrid, or fully remote work.

Key Responsibilities:

  • Oversee a team of actuarial professionals and pricing analysts throughout the transaction lifecycle, ensuring the development of effective pricing and product strategies for pension risk transfer.
  • Conduct thorough reviews and interpretations of defined benefit plan documents to accurately assess plan provisions.
  • Collaborate with Product Development and Sales teams to formulate strategic bidding approaches that align with divisional and corporate objectives.
  • Engage with sales and operational teams throughout the transaction process, from deal acceptance to onboarding.
  • Manage pricing schedules for PRT to enhance workflow efficiency and capacity.
  • Recommend pricing assumptions in partnership with the assumptions team, while maintaining a comprehensive understanding of industry trends.
  • Present pricing outcomes to key stakeholders, including senior management, to secure support for transactions.
  • Monitor business performance and profitability to inform future pricing strategies.
  • Conduct pricing and sensitivity analyses for PRT cases, ensuring compliance with regulatory standards.
  • Lead inforce management activities for PRT, ensuring data quality for financial reporting and valuation.
  • Design and refine a sustainable operating model for pricing transactions.
  • Identify business needs and implement upskilling strategies to enhance team capabilities and process efficiency.
  • Mentor and guide actuarial staff throughout the PRT process, fostering professional growth.
  • Document projects in accordance with established guidelines and regulatory standards.
  • Provide comprehensive support and insights to leadership regarding PRT market opportunities and risk assessments.
  • Execute additional actuarial projects as assigned to support the PRT business.

Qualifications:

  • FSA designation with a minimum of 6 years of relevant experience, particularly in actuarial pricing and product development.
  • Direct experience with Pension Risk Transfer products is essential.
  • Bachelor's degree in Actuarial Science, Finance, Mathematics, Computer Science, or a related field, or equivalent professional experience.
  • Proven leadership skills with the ability to manage and develop both actuarial and non-actuarial team members.
  • Excellent communication skills, capable of engaging with diverse stakeholders at all levels.
  • Strong project management abilities and a collaborative approach to building relationships across the organization.
  • A proactive leader with a strong sense of urgency and adaptability.
  • Highly organized with a track record of managing multiple projects and meeting deadlines.
  • Strong analytical and problem-solving skills, with attention to detail.
  • Proficiency in Microsoft Excel is required.

Preferred Attributes:

  • FSA with over 10 years of extensive actuarial experience.
  • Prior involvement in Pension Risk Transfer transaction pricing is highly desirable.
  • A continuous improvement mindset, with the ability to innovate current practices.
  • Experience with programming languages such as VBA, R, or Python, and familiarity with actuarial modeling systems.

Commitment to Diversity:

At Pacific Life, we prioritize creating a diverse, equitable, and inclusive workplace. We believe that a variety of perspectives enhances our ability to serve our clients and community effectively.

Benefits Overview:

We offer a comprehensive benefits package that begins on your first day, focusing on your overall well-being, including:

  • Health and wellness programs, including Medical, Dental, and Vision coverage.
  • Generous paid time off policies, including holidays and personal time.
  • Paid parental leave and adoption assistance.
  • A competitive 401k savings plan with company contributions.

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