AVP Actuarial – New Business Repricing & Regulatory

AVP Actuarial – New Business Repricing & Regulatory

Requirements

• FSA and Member of the American Academy of Actuaries with at least 10 years of life insurance working experience.
• Proven experience with Illustration Actuary Testing.
• Ability to lead multiple large projects and meet tight deadlines with thoughtful planning and effective execution.
• Ability to effectively communicate and collaborate with stakeholders and business partners at all levels to resolve issues and drive product development initiatives forward.
• Data savvy individual with a solid understanding of the competitive environment, regulations, and actuarial guidelines applicable to life insurance products.
• Strong leadership in engaging, organizing and developing a team.
• Ability to effectively lead, influence, and negotiate in a matrix environment across different disciplines, internal and external, to achieve desired outcomes.
• Creative, self-starter who is comfortable with ambiguity, and who thrives in a fast-paced and collaborative environment.
• Demonstrates readiness to embrace change and challenge the status quo as appropriate.
• Effective communication skills and ability to present business solutions in a clear and concise manner and to collaborate effectively with actuarial and non-actuarial partners.
• Proven ability to inspire, coach, and influence direct reports, senior leaders, and other stakeholders.

Responsibilities

• Stay current on all rules and regulations applicable to life insurance and provide needed technical expertise and guidance in their assessment and implementation across our product offerings.
• Assume the role of Illustration Actuary for CMD.
• Oversee all aspects of Life Insurance Illustration Actuary testing of Pacific Life in-force and new business products for compliance with applicable rules and regulations and prepare relevant annual report for certification by Pacific Life Board of Directors and for filing with state insurance departments.
• Lead the function accountable for providing first line guidance on 7702/7702A to the pricing and R&D teams and education on related topics to stakeholders across the division.
• Oversees the evaluation of tax impacts and other potential regulatory changes of desired products of features.
• Oversee all repricing activities for CMD’s term products, special custom pricing for Private Placement VUL cases (Multi-Life & Single Life).
• Own fund lineup strategy and champion fund changes through the applicable approval process.
• Liaise with Product Management & ALM on cap & rate setting for Life inforce.
• Lead the financial assessment of exception requests and provide relevant guidance to key stakeholders (e.g. New Business, Inforce Management, etc…).
• Actively collaborate with Pacific Life Legal and government relations stakeholders to influence the regulatory environment applicable to our chosen markets and promotes thought leadership and expertise in this space.
• Manage a team of actuaries and a non-actuary. Establish short term and long-term development plans for the team and staff under management; Have succession plan for key roles; Monitor results and make adjustment as needed.

Preferred Qualifications

• Excellent diplomacy and negotiation skills and management of cross-functional stakeholders.
• Ability to work across disciplines and functions with a customer-centric mindset.
• Strategic thinker able to understand multiple future outcomes and ability to help guide the organization through those different scenarios.