Pacific Life Insurance Company

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Quantitative Modeler / Associate Actuary

at Pacific Life Insurance Company

Posted: 10/14/2019
Job Reference #: 693164

Job Description

Job Title
Quantitative Modeler / Associate Actuary

Division
Retirement Solutions

Job Description
POSITION SUMMARY:
The Retirement Solutions Division (RSD) is seeking a quantitative modeler and developer to join its Actuarial and Quantitative Modeling (AQM) team. 

The AQM team develops models and applications which provide for the pricing, valuation, hedging and risk management of annuity products across RSD. We combine technical expertise with a strong understanding of the underlying business, in partnership with all stakeholders. Alongside our quantitative responsibilities, our strategic goal is toward a more efficient, robust and insightful modeling environment. We align our processes with firm-wide guidelines for model and operational risk management.

You will be contributing to major initiatives such as our modeling platform conversion and modernization, as well as assuming varied responsibilities for quantitative models and tools (for example, dealing with hedging strategy and calculation of greeks). This role works alongside a dedicated model development team, which maintains core asset and liability models in Moses, while aligning with longer-term modeling strategy.

RESPONSIBILITIES: 
  • Play a key role in driving forward all aspects of our model platform modernization efforts, both in terms of core actuarial modeling and by ensuring user functional requirements are met, in areas such as model and data management, batching, reporting and data analysis.
  • Work within the team and with the wider department to analyze evolving business or regulatory requirements, do the development, and marshal changes into current- and future-state models.
  • Support and maintain RSD’s Fixed Index Annuity (FIA) hedging models and assist with analysis and implementation of new hedging requirements.
  • Proactively pursue other innovative quantitative projects as the need arises, for example dealing with stochastic scenario generators or capital market assumptions.
  • Adopt the company principles and requirements pertaining to Model Risk Management and Assumption Governance by supporting company activities around model risk, model documentation, model consistency and transparency. 
  • Potential to manage a small team. Provide guidance, coaching and development opportunities to your staff. 
  • Support independent periodic model review initiatives.
  • Support other ad-hoc projects across the wider team as needed.


FACTORS FOR SUCCESS
  • Bachelor’s Degree in actuarial science, mathematics, finance, computer science or other quantitative field is preferred.
  • 5 or more years of hands-on actuarial or financial modeling experience, preferably with at least 3 years in modeling annuities or similar financial products (i.e. derivative pricing and risk management, structured products, quantitative developer at a hedge fund, etc.).
  • Strong knowledge of capital markets, valuation methods, financial reporting and accounting principles.
  • Strong quantitative, analytical and problem-solving skills.
  • Strong ability to develop solutions by collaborating with multiple business partners; customer focus
  • Excellent organizational, interpersonal and communication skills
  • Proven experience working with some combination of Python, C++, C#, Excel and VBA, SQL, as well as R. Understanding of distributed cloud computing would be advantageous. 
  • Experience in actuarial modeling systems such as Moses/RAFM or Prophet is advantageous.
  • Prior management experience is a plus.
  • Actuarial designations (ASA, FSA, MAAA) are a plus.

*Level of role subject to adjustment depending on skills and knowledge.

 

Req Number
4318BR

Full Time / Part Time
full time

Benefits
Join the Pacific Life team and watch your career grow! We offer a competitive compensation and benefits package that includes: • Competitive salary and bonus program • Medical, dental, and vision as part our commitment in investing in the health and wellbeing of our employees • Two retirement savings plans: 401k savings plan with company match and Company Retirement Contribution (company-paid) • Generous vacation time and holiday pay • And much more!

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.

About Pacific Life
For more than 150 years, Pacific Life has offered innovative products and services including life insurance, annuities, and mutual funds, along with a variety of investment products, all of which provide The Power to Help You Succeed. We firmly believe each employee plays a part in our continued growth and success, and we pride ourselves in providing a work environment that is challenging, inclusive, collaborative, and results-oriented. With a powerful past and a strong future, Pacific Life offers an environment where you’re empowered to achieve your personal best. In return, we look to your passion and insight to help us grow. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

Position Location(s)
Newport Beach, CA