AVP, Model Risk Management

AVP, (FSA) Model Risk Management

Job Description: $Pacific Life is seeking an AVP, Model Risk Management to join our team. This role is on-site 4 days per week and work from home 1 day per week in Toronto, ON. This role is a strong fit for a senior life actuary who enjoys technical depth, independent challenge, and practical business impact. You will lead second-line model risk oversight for Life insurance models across Financial Reporting, Product Development, Forecasting, and related model uses. You will work directly with business leaders, model developers, and risk committees to assess whether models are fit for purpose. This role will report directly to the VP of Model Risk Management and offers broad visibility across Pacific Life’s products and functions.

How you will make an impact

• Lead comprehensive reviews of Life models and provide clear, practical recommendations to owners, senior leaders, and risk committees.
• Raise the bar on methodologies and assumptions by challenging practices, identifying areas of potential risk and driving for meaningful improvements.
• Provide expert guidance on efficient modeling techniques and robust governance practices, to bolster 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.

The experience you bring

• 8+ years of actuarial experience with an FSA/FCIA designation.
• Deep experience in Life products, in areas of actuarial modeling, financial reporting, forecasting, pricing, or economic valuation.
• Ability to challenge technical work constructively 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.

What makes you stand out

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

Salary: $160, 290.00 - $187,005.00 CAD Compensation Range The compensation 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.

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

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.

Use of AI

As part of our commitment to a fair and efficient hiring experience, we want to inform you that we may use artificial intelligence (AI) tools to assist in reviewing resumes, and during the assessment process, including through platforms like HireVue. These tools help us identify relevant qualifications and streamline evaluations, but final decisions are always made by our hiring team. At Pacific Life Re, our vision is to bring an innovative and dynamic approach to the marketplace. Our global team is not afraid to disrupt and challenge industry thinking to provide the best life and health reinsurance services possible. Working in some of the most complex and fast-moving markets has taught us that knowledge and innovation go hand in hand. Today, we are continuing our rapid growth internationally with offices across Europe, Asia, North America, Australia, and Bermuda. With over 1000 employees across the globe, we take pride in our inclusive culture, underpinned by our values and behaviours, providing an environment where everyone can grow and develop.