Director, Model Risk - Financial & Actuarial Models at Pacific Life

Newport Beach, California, United States

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

8+ years of experience with an FSA designation
Professional certifications such as CFA, FRM, CAIA, or PRM are a plus
Expertise in financial and risk modeling, in areas of hedging, capital, derivatives, structured and traditional assets, or scenario generators
Experience in Life and Annuity products, in areas of financial reporting, forecasting, or pricing
Experience building validation / replication / challenger tools
Ability to influence and challenge both senior leaders and technical teams effectively
Bachelor's degree in actuarial science, financial mathematics or a related quantitative field
Experience with Prophet, C#, Python, SQL or related programming languages are a plus

Responsibilities

Lead comprehensive validations across Financial (hedging, assets, scenario generators), Life, and Annuity models
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
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
Drive model risk oversight across Financial and Risk models, as well as support oversight for Life and Annuity models across Financial Reporting, Product Development, and Forecasting
Partner with business teams, model developers, and senior leaders to ensure models are fit for purpose, assess assumptions, identify risks, and provide actionable recommendations that strengthen model performance and reliability

Skills

Key technologies and capabilities for this role

Actuarial ModelingModel ValidationModel Risk ManagementFinancial ModelingHedging ModelsScenario GeneratorsLife Insurance ModelsAnnuity ModelsRisk OversightModel Governance

Questions & Answers

Common questions about this position

What is the location for this role and is it remote?

The role is based in Newport Beach, CA; Omaha, NE; or Toronto and is onsite. Relocation assistance will be provided.

What experience and qualifications are required for this position?

Candidates need 8+ years of experience with an FSA designation, expertise in financial and risk modeling (hedging, capital, derivatives, assets, scenario generators), experience in Life and Annuity products (financial reporting, forecasting, pricing), and experience building validation tools. A Bachelor's degree in actuarial science, financial mathematics, or related field is required; professional certifications like CFA, FRM, CAIA, or PRM are a plus.

What is the salary or compensation for this role?

This information is not specified in the job description.

What is the company culture like at Pacific Life?

Pacific Life emphasizes collaboration, innovation, and transforming the industry for the better, with a focus on purpose, support, balance, resources, and an inclusive workforce where people come first.

What makes a strong candidate for this Director role?

A strong candidate will have 8+ years of experience with FSA, expertise in financial/risk modeling and Life/Annuity products, experience building validation tools, and the ability to influence senior leaders and technical teams.

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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