Job Title Actuary (FSA) - Fixed Annuity Projections

Job Description Providing for loved ones, planning rewarding retirements, saving enough for whatever lies ahead – our policyholders count on us to be there when it matters most. It’s a big ask, but it’s one that we have the power to deliver when we work together. We collaborate and innovate – pushing one another to transform not just Pacific Life, but the entire industry for the better. Why? Because it’s the right thing to do. Pacific Life is more than a job, it’s a career with purpose. It’s a career where you have the support, balance, and resources to make a positive impact on the future – including your own.

We’re actively seeking a talented Senior Actuary (FSA) to join our Enterprise Valuation Fixed Annuity Projections team in Toronto, ON. This role follows a hybrid schedule.

As a Senior Actuary of the Enterprise Valuation Fixed Annuity Projections team, you will be primarily responsible for leading, planning and executing actuarial projections for fixed annuities with accountability for decisions, outcomes and impacts of those projections. With upcoming advancements in regulatory reserving requirements for fixed annuities the traditional division between retail and institutional fixed annuities is blurring. This role provides a unique opportunity to develop expertise in both individual and group fixed annuities by providing support across two other teams within the fixed annuity projections function. This support will include traditional actuarial exercises such as asset adequacy testing and C3-Phase I along with more modern concepts such as economic reporting and offshore reinsurance as well the ongoing modernization effort of those long-standing regulatory exercises.

You will fill an individual contributor new role that sits on a team with 2 team leaders; however, you will also provide direct support to those two team leaders. Your colleagues will include both fully remote and hybrid team members.

How You’ll Help Move Us Forward

• Support the timely and accurate preparation of the Actuarial Opinion and Memorandum on Asset Adequacy Testing, C3 Phase I scenario testing, economic reporting and all other projection reporting in accordance with regulatory, or internally defined, requirements as applicable
• Lead and develop the consolidation of the operating model between both the individual and group fixed annuities projection processes
• Consolidate and eliminate redundancy across shared tasks including but not limited to data aggregation, attribution analysis, memorandum, dashboard and presentation material
• Become a subject matter expert in regard to the fixed annuities actuarial projection models including their pre and post processing workflow
• Develop and translate model enhancements into business requirements through analysis as well as perform testing and validation of those enhancements
• Maintain proper controls and processes consistent with Model Risk Management (MRM) guidance
• Produce and/or help review reports/analytics supporting actuarial projection exercises and take initiative to streamline those reporting processes
• Collaborate with colleagues across the function and beyond; interact closely with team leaders and senior management, build strong relationships and seek out to provide actuarial interpretation and expertise to others
• Communicate effectively with various audiences of diverse educational backgrounds ranging from new hires to actuarial and non-actuarial senior management
• Maintains awareness of new product activities and regulatory changes and support their implementation
• Develop tools to enhance model efficiency and analytics in relation to inputs, computation and outputs

The Experience You Bring

• Required: FSA with 6+ years of related actuarial experience
• Bachelor's degree
• Experience with asset and liability projections
• Strong stakeholder management and interpersonal skills
• Excellent quantitative, analytical and problem-solving skills
• Innate curiosity and attention to detail
• Ability to translate technical concepts to non-technical audiences effectively in both verbal and written communication

What Makes You Stand Out

• Background in statutory reserving and a familiarity with principles related to market consistent embedded value
• Technical proficiency in the actuarial modeling software Prophet, Snowflake/SQL as a database solution, visualization tools such as Tableau or Power BI and automation software such as Python, VBA or R.
• Prior experience in actuarial valuation and/or projections for both fixed deferred annuities (e.g. Fixed Indexed Annuities, Multi-year Guaranteed Annuities, etc.) and fixed payout annuities (e.g. Single Premium Immediate Annuities, Deferred Income Annuities, Structured Settlements, Pension Risk Transfer, etc.)

$127,800.00 - $149,100.00 CAD

• Works independently, receives minimal guidance.
• Acts as a resource for colleagues with less experience.
• May lead functional teams or projects.

Working For Pacific Life Re Every person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and support their individual ambitions at every step. We work hard and thrive on achievement, but we also know how to have fun and relax too. We regularly host a range of team building days to strengthen our team's connection with each other and reflect on their successes.

Providing employees with a healthy work-life balance is very important to our culture. We have a wide range of employee benefits and we host regular social activities and well being initiatives. We are also committed to supporting our employee's involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.

Benefits Leave

• 23 days of annual leave (Regular employees) with option to buy or sell more days
• Fertility leave
• Generous parental leave

Healthcare

• Group Life Insurance and Accidental Death & Dismemberment coverage for all permanent employees
• Dental & Optical benefits

Savings & Retirement

• RRSP: company-matched contributions

Wellness

• Employee and Family Assistance Program
• Subsidized gym membership
• Time off for volunteering
• Charitable matching of employee donations

You Can Be Who You Are We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made, where possible.

Pacific Life Re Values Please click here to view our company values