Assistant Actuary - Research and Development

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 Assistant Actuary to join our CMD Product R&D team. This role is hybrid. We believe in empowering our employees to get work done both in and out of the office.

As an actuary on the research and development team within the Consumer Markets Division (CMD), you will play a key role in Pacific Life’s growth and long-term success. This role is responsible for annuity product innovation.  This team enjoys a collaborative environment where we work together within CMD to meet consumer needs with new products and annuity solutions.

While our team aims to hire at the Assistant Actuary 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 will make an impact:

• Assist in the development of innovative annuity product ideas, features, and offerings that meet the evolving needs of our customers. 

• Stay on top of external factors including consumer behaviors, competition via competitive analysis, and macroeconomic/regulatory changes, and use this insight to guide product development. 

• Support a culture of innovation that enables outside-the-box thinking and inclusiveness within the team, promoting creative problem-solving and idea generation. 

• Utilize ‘Design Thinking’ principles to address consumer needs and coverage gaps, ensuring that our products are tailored to meet the unique requirements of our customers. 

• Influence the division’s Go-To-Market strategy and work closely with other Strategy and Innovation teams to align product development with broader organizational goals. 

• Assist in research on capital and reserve optimization, participate in internal risk reviews for new products and features, and collaborate on risk mitigation and hedging strategies. 

• Research and understand the impact of accounting framework changes on competitiveness in the annuities market. 

• Collaborate with pricing teams to resolve product development issues and ensure pricing decisions are aligned with customer needs. 

The experience you will bring: 

• Bachelor’s degree in Actuarial Science, Mathematics, Computer Science, other related field; Or equivalent work experience.

• ASA designation in the Society of Actuaries.

• 4+ Years actuarial experience; prior experience in pricing, asset liability management, or hedging preferred.

• Proficient in Microsoft Office Suite; experience with actuarial modeling software is a plus.

• Understanding of insurance industry and in-depth knowledge of financial impacts is preferred.

• Attention to detail; well organized with proven experience in handling multiple projects and meeting tight deadlines.

• Effective communication skills to collaborate with various units and to present business solutions in a clear and concise manner.

You can be who you are.

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

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.

$118,800.00 - $145,200.00

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.