AVP, Chief Risk Officer Workforce

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 AVP – Chief Risk Officer, Workforce Benefits Division (WBD) to join the Pacific Life Risk Management team in Newport Beach, CA or Omaha, NE. This role is hybrid, with 4 days in the office. If you are not currently located near one of these offices, we offer comprehensive relocation assistance.

As our Chief Risk Officer in Workforce Benefits, you will play a key role in Pacific Life’s growth and long-term success. You will work directly with business partners and key stakeholders to support the execution of the new and growing WBD strategy and key initiatives while assessing and mitigating key risks across the Division.

• Support the execution of the Workforce Benefits Division strategy to grow and scale a $1B revenue, profitable business in the Group Benefits market
• Work collaboratively with partners on a variety of new business and in force initiatives to identify, assess and mitigate key risks, including:
  • New product development
  • Rate development
  • Renewal strategies
  • Execution of Technology and Operations roadmaps
  • Partner with Finance & Actuarial, Risk Management and WBD to tailor pricing and other risk policies and standards as needed for Group Benefits
  • Oversee the implementation of underwriting and pricing methodologies, support assumption oversight and model risk governance activities within the Division
  • Supervise operational risk management activities within the Division and coordinate 2nd lines of defense activities within the Division where needed (e.g., Risk, Compliance, CISO)
  • Promote a risk-aware culture and drive consistent and effective management practices
  • Develop and maintain division-level risk governance and reporting
  • Remain engaged with the competitive landscape, providing an understanding of competitor risk practices to stakeholders
  • Contribute to the development of enterprise-wide risk policies and standards and promote their adoption throughout the Division

• 10+ years of relevant Actuarial/Risk Management experience within the Workforce/Group Benefits industry
• Strong understanding of how insurance, operational, and strategic risks manifest in group benefits products
• Strong analytical capabilities with ability to apply analytical/critical thinking background to new situations
• Self-starter who can be trusted to take ownership of their work product
• Understanding of insurer financials, including Statutory and GAAP accounting, as well as how those frameworks are represented in product pricing
• Strategic, creative, and broadly focused thinker with demonstrated ability to be persuasive and collaborative

• Relevant credentials, including FSA or CFA, are a plus
• Consistent track record of effectively working with data to manage risk and process re-engineering, simplification, and streamlining
• Comfortable in ambiguity and an advocate for change
• Demonstrated ability to anticipate future consequences and trends accurately

Base Salary Range

$230,000 - $268,000

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.

• Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your…