AVP New Business Model Development

Pacific Life Insurance Company; Toronto; On-site; USD 219,000 - 268,000; Full time

Job summary

A leading company in financial services is seeking an Assistant Vice President, New Business Model Development. This role involves leading actuarial modeling projects, fostering collaboration, and driving innovation while ensuring compliance with best practices in pricing and risk assessment. Candidates should have significant actuarial experience and leadership skills, contributing to the company's transformation initiatives.

Benefits

Medical, Dental, and Vision benefits

Generous paid time off options

Paid Parental Leave

401k savings plan with company match

Qualifications

• 10+ years of actuarial experience, preferably with life and annuities.
• Demonstrated leadership skills.
• Experience with GAAP valuation requirements.

Responsibilities

• Lead a team of model developers for new business actuarial models.
• Collaborate with Product Development and Risk teams for accurate modeling.
• Enhance model governance and implement strong controls.

Skills

Quantitative skills

Analytical skills

Problem-solving skills

Leadership skills

Technical skills (SQL, Python, R, etc.)

Education

Bachelor's degree in actuarial science, mathematics, finance, engineering, computer science

Tools

SQL

EssBase

Python

R

MatLab

Tableau

Neural Net models

Job description

Providing financial security for our policyholders-whether through retirement planning, income protection, or wealth accumulation-is at the core of what we do. To deliver on that promise, we must continuously evolve and enhance our actuarial modeling capabilities. That's why we're seeking a talented Assistant Vice President, New Business Model Development to join our Enterprise Modeling team.

Reporting to the VP, Enterprise Modeling, this role will lead the development and enhancement of new business models across various product lines, ensuring they are aligned with best practices in pricing, risk assessment, and actuarial modeling. This position offers a unique opportunity to drive innovation in modeling, foster collaboration between teams, and play a key role in Pacific Life's transformation initiatives.

How You'll Help Move Us Forward

• Lead a team of model developers focused on development and refinement of new business actuarial models, ensuring they are optimized and aligned with business goals and pricing guidelines.
• Lead efforts to reconcile and align pricing software with Prophet models used for financial reporting. Support all modeling needs for Quarterly Business Reports (QBR) and ensure models are in a controlled environment.
• Accountable for pricing modeling strategy, standards, and oversight across actuarial modeling platforms (pricing and valuation)
• Collaborate closely with Product Development, Enterprise Actuarial, and Risk teams to ensure accurate modeling of new products.
• Enhance model governance by implementing strong controls, validation frameworks, and documentation standards.
• Drive efficiencies in model implementation, focusing on standardization and consistency across different product lines. Implement modern CI / CD processes to improve model deployment.
• Partner with IT and Data teams to optimize data integration and automation within new business reporting.
• Identify opportunities for process improvements, leveraging technology to streamline workflows and enhance decision-making.
• Support model transition efforts, ensuring seamless handovers from pricing model development to inforce model.
• Provide leadership and mentorship to modeling team members, fostering skill development and knowledge sharing.

The Experience You Bring

• Demonstrated leadership skills
• Bachelor's degree in actuarial science, mathematics, finance, engineering, computer science, or another quantitative related field is preferred
• 10+ years of actuarial experience, preferably with life and annuities; PRT experience is a plus
• Experience with Stat and GAAP valuation requirements, financial reporting, and accounting principles
• Exceptional quantitative, analytical, and problem-solving skills
• Skilled in SQL, EssBase, Python, R, MatLab, Tableau, Neural Net models, and cloud computing a plus

You can be who you are.

People come first here. We're committed to a diverse, equitable and inclusive workforce. Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at www.pacificlife.com. What's life like at Pacific Life? Visit Instagram.com / lifeatpacificlife.

Benefits start Day 1.

Your wellbeing is important. We're committed to providing 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 a 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.

219,000 - $268,000

LI-DG

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

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.