Actuary & Director (FSA), Model Risk Management

Pacific Asset Management, LLC; Newport Beach (CA); Hybrid; USD 203,760 - 249,040; Full time

Benefits offered by this job

Medical, Dental, Vision and Wellbeing

Paid time off and holidays

Parental leave and Adoption Assistance

401(k) with company match

Job summary

Pacific Life Insurance Company is seeking an experienced actuary to serve as Director of Model Risk Management. The role is hybrid, on-site four days per week with one day remote, located in Newport Beach, CA, Omaha, NE, or Charlotte, NC. Relocation assistance is offered if not near an office.

Responsibilities include leading second-line oversight for life insurance models, collaborating with business leaders and risk committees, and advancing model risk governance and methodologies.

Qualifications

• 8+ years of actuarial experience with an FSA designation.
• Deep experience in Life products, including actuarial modeling, financial reporting, forecasting, pricing, or economic valuation.
• Ability to constructively challenge technical work and influence senior leaders and technical teams.
• Experience reviewing, validating, developing, or testing complex actuarial models.
• Strong communication skills, including the ability to explain complex modeling issues in clear business language.

Responsibilities

• Lead second-line model risk oversight for Life insurance models across financial reporting, product development, forecasting, and related model uses.
• Work directly with business leaders, model developers, and risk committees to assess whether models are fit for purpose.
• Provide clear, practical recommendations to owners, senior leaders, and risk committees.
• Raise the bar on methodologies and assumptions by challenging practices, identifying potential risk areas, and driving meaningful improvements.
• Deliver expert guidance on efficient modeling techniques and robust governance practices to strengthen model risk management.
• Collaborate with cross-domain subject experts to understand and impact the business more holistically and help advance Pacific Life’s model risk framework and practices.

Skills

Actuarial modeling

Leadership

Stakeholder management

Communication

Regulatory awareness

Education

FSA designation

Tools

Prophet

Job description

Actuary & Director, Model Risk Management

Pacific Life is seeking an experienced actuary to serve as Director of Model Risk Management. The role will be on‑site 4 days per week and work from home 1 day per week in one of our offices in Newport Beach, CA; Omaha, NE; or Charlotte, NC. If the candidate is not currently located near one of these offices, comprehensive relocation assistance is offered.

Key Responsibilities

• Lead second‑line model risk oversight for Life insurance models across financial reporting, product development, forecasting, and related model uses.
• Work directly with business leaders, model developers, and risk committees to assess whether models are fit for purpose.
• Provide clear, practical recommendations to owners, senior leaders, and risk committees.
• Raise the bar on methodologies and assumptions by challenging practices, identifying potential risk areas, and driving meaningful improvements.
• Deliver expert guidance on efficient modeling techniques and robust governance practices to strengthen model risk management.
• Collaborate with cross‑domain subject experts to understand and impact the business more holistically and help advance Pacific Life’s model risk framework and practices.
• Stay current on emerging practices, modeling techniques, technologies, and regulatory developments.

Qualifications

• 8+ years of actuarial experience with an FSA designation.
• Deep experience in Life products, including actuarial modeling, financial reporting, forecasting, pricing, or economic valuation.
• Ability to constructively challenge technical work and influence senior leaders and technical teams.
• Experience reviewing, validating, developing, or testing complex actuarial models.
• Strong communication skills, including the ability to explain complex modeling issues in clear business language.
• Strong project leadership, judgment, and stakeholder management skills.

Preferred Qualifications

• Experience with Prophet.
• Familiarity with emerging AI tools and advanced analytics.
• Experience building validation, replication, or challenger models.

Salary

Salary ranges vary by location:

• Newport Beach, CA: $203,760 – $249,040
• Omaha, NE: $175,950 – $215,050
• Charlotte, NC: $185,220 – $226,380

The base pay range 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 depend on several factors, including but not limited to experience, qualifications and geographic location. Additionally, most employees are eligible for incentive pay.

Benefits

• Medical, Dental, Vision and Wellbeing Reimbursement Account for employees and eligible dependents.
• Generous paid time off options, including Paid Time Off, Holiday Schedules, and Financial Planning Time Off.
• Paid parental leave and an Adoption Assistance Program.
• Competitive 401(k) 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.