AVP, Model Risk, Divisional at Pacific Life

London, England, United Kingdom

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, ReinsuranceIndustries

Requirements

Qualified Actuary (FIA or equivalent) with strong post-qualified experience
Expertise in actuarial modeling, model validations or audits; good understanding of risk and control frameworks
Strong knowledge of different reporting bases (BMA, US GAAP, IFRS17, Solvency II)
Experience in the Life (Re)insurance industry, in areas of financial reporting, forecasting, or pricing
Ability to influence and challenge both senior leaders and technical teams effectively
Experience with Tyche, SQL, R, and Tableau

Responsibilities

Lead comprehensive validations across Pricing, Valuation, Capital Planning, and Assumption Setting models; meet BMA Scenario Based Approach (SBA) review expectations where applicable
Raise the bar on methodologies and assumptions by challenging practices, identifying areas of potential risk and driving for meaningful improvements
Present clear actionable findings to model owners, senior leaders, and risk committees
Lead and develop a team of model risk professionals
Collaborate with cross-domain subject experts to understand and impact the business more holistically and contribute to the evolution of the MRM Framework
Guide business teams on efficient modeling techniques and robust governance practices
Monitor industry trends, emerging practices, and modeling solutions to inform recommendations

Skills

Actuarial Modeling

Model Validation

Model Risk Management

IFRS17

Solvency II

US GAAP

BMA SBA

Pricing Models

Valuation Models

Capital Planning

Assumption Setting

Risk Frameworks

Leadership

Pacific Life

About Pacific Life

Newport Beach, CaliforniaHeadquarters

1868Year Founded

$189.4MTotal Funding

N/ACompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Health Insurance

Paid Vacation

Paid Parental Leave

Adoption Assistance

401(k) Retirement Plan

401(k) Company Match

Risks

Increased competition in annuities market from companies like Prudential and MetLife.

Potential financial exposure from significant real estate investments.

Integration challenges with Selerix could affect customer satisfaction.

Differentiation

Pacific Life partners with T. Rowe Price for innovative Lifetime Income solutions.

Recognized as a top community-minded company, enhancing brand reputation and trust.

Real-time integration with Selerix improves benefits administration accuracy and efficiency.

Upsides

Lifetime Income solution attracts clients seeking secure retirement options.

Enhanced annuity products offer flexibility and growth, increasing product attractiveness.

Strong real estate financing position opens more sector opportunities.

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