Quantitative Technologist

5 - 7 years experience  •  Insurance

Salary depends on experience
Posted on 11/15/17
Omaha, NE
5 - 7 years experience
Insurance
Salary depends on experience
Posted on 11/15/17

About Pacific Life WHERE YOUR POTENTIAL MEETS OUR PURPOSE:

At Pacific Life, you are given the opportunities and challenges to embrace your potential and achieve your personal best, every day. What you find here is something special – it’s purposeful work done with a shared set of values that brings us all together.

ABOUT US:

Pacific Life offers life insurance, annuities, and mutual funds, along with a variety of investment products and services, all of which provide The Power to Help You Succeed. Headquartered in Newport Beach, CA, Pacific Life is a Fortune 500 company with approximately 2800 employees. We pride ourselves in providing a work environment that is challenging, inclusive, collaborative and results-oriented. We firmly believe each employee plays a part in our continued growth and success. Job Description The Retirement Solutions Division (RSD) is seeking a quantitative technologist to join its Actuarial and Quantitative Modeling (AQM) team.

The AQM team develops models and applications which provide for the pricing, valuation, hedging and risk management of annuity products across RSD. We combine technical expertise with a strong understanding of the underlying business, in partnership with all stakeholders. Alongside our quantitative responsibilities, our strategic goal is toward a more efficient, robust and insightful modeling environment. We align our processes with firm-wide guidelines for model and operational risk management.

POSITION SUMMARY:
This role will work in a close-knit team covering multiple product lines, and will oversee our common modeling components and help drive the evolution of our modeling platform. The ideal candidate will combine strong software and systems expertise with hands-on experience in implementing quantitative models or other risk or valuation applications in a financial setting. Initially, this position will be responsible for our in-house model automation platform. Written in Python, it is emerging from a pilot phase and still has ample greenfield development opportunities. Liaise with IT to manage how our models make use of grid and cloud computing resources. On the quantitative side, maintain and enhance our Economic Scenario Generators used for Monte Carlo simulations, along with modeling considerations for volatility, interest rates, and other capital markets inputs. Over time, play a key role in deciding and implementing the next generation of our modeling platform, including the strategic mix of in-house and vendor solutions. Day-to-day duties may also include various business-driven modeling enhancements, in support of the team’s overall responsibilities. Although neither actuarial training nor annuities experience are prerequisites, a commitment to continuous on-the-job learning of these areas is expected.

Beyond enthusiasm for both the technical and quantitative, this role also requires strong self-sufficiency as a business analyst, project manager and communicator, in order to understand the business requirements from the big picture down to the details, and translate them into sustainable solutions. This role is one part developer, one part analyst, one part architect, and one part quant, in a setting largely populated by professional actuaries.

Responsibilities Include:
-See through assigned projects, end-to-end, from requirements gathering to research and development, to user testing and deployment
-Conscientiously adhere to software lifecycle best practices and division Model Risk Management standards, including testing and documentation upkeep
-Work closely with colleagues in actuarial teams, as well as with IT and outside consultants
-Proactively analyze business requirements (such as new system or product features or new calculation requirements) and effectively translate them into system enhancements
-Assume a leading role in maintenance, development and enhancement of our model automation and validation platform. Champion expansion of its use, not only through functional improvements, but through proactive documentation and training. Develop new capabilities for management, analysis, and reporting of modeling data
-Support and development of economic scenario generators used for Monte Carlo simulations, including modeling of their underlying capital markets inputs
-Gain an understanding of fixed and variable annuity products, and the accounting and regulatory standards that dictate their modeling needs. Ownership of various projects to address impacts from proposed changes to such standards, or to enhance our existing modeling capabilities
-Perform analysis toward long-term projects such as evaluation of new vendor modeling platforms
-Oversee modeling use of distributed computing resources, working closely with IT. Also assume primary responsibility for various tools used for model batch management
-Assist model users with troubleshooting and follow up permanent fixes to issues
-Mentor others, including new joiners, or help manage interns from time to time

FACTORS FOR SUCCESS:
-Bachelor’s degree or higher in a quantitative or scientific discipline
-A genuine passion for software engineering with 5+ years’ experience; ideally in a financial setting (i.e. at a bank, asset manager, insurance company, or hedge fund)
-Experience with quantitative modeling (ideally concurrent with software experience); understanding of cashflow projection and discounting, option pricing theory, greeks and hedging, etc.; specific experience with annuities or other insurance products a plus but not required
-Expertise in Python, C++, C#, or Java (Emphasis on overall programming skill versus a requirement for direct experience in any one language)
-Solid ability in Excel and VBA, as well as SQL
-Experience with distributed or cloud computing, JavaScript/CSS/HTML, R, Matlab, or actuarial modeling environments such as Moses would be advantages
-Self-starter who takes initiative and can work independently on multiple projects while dealing with ambiguity
-Strong, proven communication skills, both written and verbal

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