Actuary & Director - Enterprise Reinsurance

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.

You’ll play a key role in Pacific Life’s growth and long-term success by leading major reinsurance activities. You will fill an existing role that sits on our Ceded Reinsurance team, consisting of about 15 individuals. Your colleagues will include both fully credentialed and student actuaries, as well as finance and operations professionals. This team enjoys a collaborative environment where we work together to deliver reinsurance solutions to the entire Pacific Life organization.  This is a highly visible role, working with external reinsurance partners and a variety of internal senior stakeholder groups.

We are actively seeking a talented Actuary & Director to joining our Enterprise Reinsurance team. This role is on-site 4 days per week and work from home 1 day per week in Newport Beach, CA, Omaha, NE, or Charlotte, NC. If you are not currently located near one of our offices, we offer comprehensive relocation assistance.

Responsibilities include:

• Serve as key business development contact with external reinsurance relationships.  Work directly with executive leadership at our 3rd party reinsurance partners.

• Manage reinsurance relationships and communication for new business and inforce discussions, focused on new partnership opportunities.

• Operate as key reinsurance contact for internal business partners, identifying opportunities where reinsurance can help support business strategy execution.  Collaborate with Product Design and Pricing, Underwriting, Risk Selection, and other functional areas to engage the Reinsurance Team at critical points.

• Lead and direct the analysis and execution of new reinsurance arrangements, aligning with business strategy across the Pacific Life enterprise.

• Negotiate rates and/or structures, as well as contract terms with reinsurers, working closely with the Reinsurance Administration team to implement new treaties.

• Model and analyze complex reinsurance transactions and make strategic recommendations.

• Oversight of inforce reinsurance programs, with focus on historical and projected financial performance of programs and any implications on future partnerships.

• Understand downstream impacts of potential transactions and explain to various stakeholders across legal, tax, and accounting, with understanding of impact across multiple accounting bases and jurisdictions including but not limited to US GAAP and Stat as well as Bermuda.

• Provide actuarial review and analysis for quarter-end settlements and financial reporting through clear understanding of accounting implications of various structures.

• Management of captive program, including capitalization, review of financials, perform asset adequacy testing support, and supporting regulatory and auditor reviews.

• Serve as reinsurance subject matter expert for partner areas, including Modeling and Valuation.

• Monitor insurance and reinsurance market conditions, develop solutions to address shifts, and gain buy-in to recommendations from senior management.

• Coordinate reinsurance needs with enterprise projects.

The Experience You Will Bring:

• Fellow of the Society of Actuaries (FSA), or Career Associate of the Society of Actuaries (ASA) designation.

• 10+ years of life insurance, annuity, and/or reinsurance experience.  Prior experience with reinsurance preferred.

• Strong influencing and negotiation skills and ability to work successfully with different stakeholder groups.

• Excellent interpersonal and communication skills (both written and verbal) with ability to tailor approach to different audiences.

• Strategic, technical, and analytical mindset.

• Effective project management skills with ability to move several different projects forward in parallel.

• Ability to lead multiple projects and meet tight deadlines with thoughtful prioritization and planning, and effective execution.

What Will Make You Stand Out:

• Leadership qualities that promote collaboration and teamwork with internal and external partners.

• Top tier communication skills and ability to explain technical items in an easy-to-understand manner to non-technical audiences.

• Superior prioritization and execution skills.

• Organizational skills that promote effectiveness with managing timelines.

• Strong research and analytical capabilities, alongside innovative thinking.

• Prior experience with non-traditional reinsurance such as capital financing.

Salary Ranges per Location:

• Newport Beach, CA: $203,760 - $249,040

• Omaha, NE: $175,950 - $215,050

• Charlotte, NC: $185,220 - $226,380

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

You Can Be Who You Are

We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife

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.