Job Description

Job Description:

Director & Actuary - Model Risk Management

Pacific Life is investing in bright, agile and diverse new talent to ensure we continue to innovate and strengthen relationships with our policyholders. Thats why were actively seeking a Director & Actuary to join our team and take part in our people-first culture.

As a Director & Actuary, you'll play a key role in Pacific Life's growth and long-term success by helping the team in their efforts to continue embedding and building out its Model Risk Management (MRM) practices and capabilities. This role will play an integral part in the recurring execution of managing model risk, as described in the responsibilities below. This position will work closely with the various actuarial teams within LID and PLs Enterprise Risk Management (ERM) department and report directly to the AVP Risk Management within LID. This role needs to operate both strategically and as an individual contributor.

Here, we believe you should be given the time, space, and trust to do your best work your way. As part of our transition toward a more digitally oriented, inclusive and employee-focused company, were opening this role to candidates near Aliso Viejo, CA as well as those looking to work 100% remote.

How You'll Contribute:

* Set and drive MRM program development and embedding within the business
* Coordinate and facilitate model reviews over actuarial and advanced analytics/machine learning models, which includes:
* Planning Define model scope and evaluate model review script for alignment with MRM modeling standards
* Execution Setup and participate in key meetings, ensure review stays on track, hold weekly progress meetings, discuss and assist team resolve/address preliminary findings
* Reporting review report, propose changes and draft management responses
* Issues Management Support logging, tracking and remediation of identified issues to successful closure
* Monitor and review model changes, which includes:
* Meetings with developers/users to discuss changes and evaluate test plan
* Review development documentation and developer/user test results
* Maintain and update MRM model change and testing log
* Review and effectively challenge the modeling teams identified gaps vs MRM Standards, maintain and monitor action plans
* Supervising and developing Actuarial Analyst and other assigned resources to support MRM objectives
* Further develop training materials, tools and templates based on the MRM Policy and Standards; conduct workshops with modeling teams embedding MRM within LID
* Monitor, and analyze laws, regulations and developments applicable to actuarial science, company operations, and competitive landscape in the marketplace.
* Plan and prepare materials for the LID MRM Committee, set agenda and assist Chair in communicating model-related issues/ developments
* Develop and maintain the LID model review calendar supporting full and targeted model reviews
* Actively collaborate with ERM and other divisions by participating in the enterprise-wide MRM working group, discussing MRM topics across divisions
* Prepare reporting for ERM
* Provide support for other key risk management projects assigned

FACTORS FOR SUCCESS:

* 8+ years of experience related to risk management (general knowledge of life insurance company operations is preferred)
* Experience validating models and associated model risks
* Requires a 4-year Math degree or equivalent experience
* Has an FSA designation; At least 3 years of actuarial experience post FSA designation
* Experience building models, preferably in a life insurance context like financial reporting (e.g., insurance reserving, DAC), pricing, capital or risk management
* Detail-oriented with strong verbal and written communication skills
* Well-organized with ability to work independently
* Creativity and initiative in work product, positive and helpful attitude proposing solutions to resolve problems
* Bachelors degree in Math or related technical field of study

At Pacific Life, the work we do matters. Thats why youll find those who work passionately each day to drive our company forward enjoy job security, flexible scheduling and great opportunities for career growth. If youre seeking a thriving career doing the type of meaningful work thats all too rare at a Fortune 300 Company, youre the perfect cultural fit for our team.

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How We Help You Succeed:

Were fostering a culture of shared values across our company by providing generous compensation and comprehensive benefits that allow our employees to find fulfillment and security in personal life and career alike. These include:

* Competitive Salary and Benefits

* Work-Life Balance & Flexible Scheduling

* Medical, dental, and vision as part our commitment to 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 PTO and holiday pay

* Warm Colleagues & Inspiring Culture

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.