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 are actively seeking a talented Quantitative Strategist II to join our Enterprise ALM Hedging team . This role is on-site 4 days per week and work from home 1 day per week in Newport Beach, CA. If you are not currently located near one of our offices, we offer comprehensive relocation assistance.
As a Quantitative Strategist II you will move Pacific Life, and your career, forward by developing and owning the quantitative modeling framework used to measure, price, and hedge option-like risks embedded in insurance liabilities. You will play a lead role in providing creative vision and innovation for sophisticated hedge programs. You will fill a new role that sits within Pacific Life's Enterprise ALM team and partner with a variety of stakeholders, including derivative investments, derivative operations, finance, and product development.
How you will help move us forward:
• Monitor and analyze risk exposures on a day-to-day and long-term basis, recommending actions that reduce risk, including the development or enhancement of hedging strategies
• Develop and own asset valuation models for options embedded in insurance liabilities, including for derivative-linked crediting strategies supporting RILA, FIA, and IUL
• Develop and maintain pricing, Greeks, and stress sensitivities for both asset and liability positions needed for hedge construction and monitoring
• Manage and support relationships with third-party asset valuation vendors, including oversight and validation of model assumptions, methodologies, and output
• Support daily and periodic hedge operations by producing, validating, and explaining liability and asset sensitivities, recommended hedge positions, and changes in exposure caused by market movements and model updates
• Partner with derivative trading and operations teams to ensure model outputs can be translated into practical hedge actions, portfolio monitoring, and operational controls
• Partner with product development teams to evaluate new product features from a hedge ability and risk transfer perspective, including the impact on option cost, basis risk, and earnings volatility
• Design and enhance quantitative methodologies for hedge strategy development, including proxy modeling and analysis of basis risk between liabilities and available hedge instruments
The experience you bring :
• Master's degree with 6 years of progressive professional experience in the financial services industry, including 5+ years developing quantitative strategies, managing asset/liability risks, or managing/structuring a book of complex exotic derivatives
• Advanced knowledge of financial mathematics with a solid understanding of stochastic calculus, derivative pricing theory, and their practical applications to hedging insurance liabilities
• Demonstrated ability to perform and elevate others in a team environment
• Hands-on experience developing risk-neutral or real-world valuation models and accompanying Greeks for embedded options in insurance liabilities (e.g., RILA, FIA, IUL) or comparable structured/derivative products
• Strong programming/quantitative modeling skills (e.g., Python or similar) and familiarity with model governance, validation, and documentation standards
What makes you stand out:
• Advanced degree strongly desired — Master’s in Quantitative Finance or a related field (Mathematics, Statistics,…