Actuarial Intern

*Job Title*
Actuarial Intern

Job Description
Actuarial Intern
Jumpstart your Actuarial career with Pacific Life We are dedicated to your growth and providing opportunities to thrive We're investing in bright, agile new talent with fresh perspectives to help us innovate and build meaningful relationships for years to come.

It's In this Spirit That We Are Currently Recruiting Interns For 2026 To Work Within Multiple Actuarial Teams Based In Our Downtown Toronto Office

• Savings & Retirement, Deal Pricing
• Actuarial Analytics & Insight, Protection
• Valuation, Capital
• Research & Development
• Enterprise Actuarial Projects
• Enterprise Capital Management

Through our interview process, we will determine which of these Actuarial focus areas presents the best fit (and you will have a chance for input). test

Note that this role operates on a hybrid schedule, eventually requiring a 4-day per week in-office schedule by mid-2026.

Program Highlights Include

• Product Training: You will be trained in Pacific Life's Retirement Solutions and Life Insurance products from a direct insurer and reinsurance division perspective to ensure you start your internship with a high-level understanding of what we offer to our customers.
• Mentorship: You will be assigned an Executive mentor who will meet with you to discuss their knowledge and experience and provide you with guidance on your internship and career path.
• Hands On Experience: You will be participating in actuarial projects that will give you a true understanding of the profession. The projects you will work on will contribute to your teams' and company goals. Examples of projects include: Creating dashboards to visualize data, Automating processes and calculations, Rider Analysis, Cash Flow Analysis, and Creating tools for efficiency.
• Rotational Events: You will be invited to a series of interactive presentations in which key actuaries throughout the company will provide an overview of their department and job duties as well as their experiences as an actuary. This will include exposure to Modeling, Risk Management, Product Design, Pricing, Valuation, and more.
• Social Activities: Networking opportunities, Executive speaker series, community service events, and social outings.

Relevant Competencies

• Continuous Learning. You want to continue learning and expanding both the depth and breadth of your knowledge as it pertains to your functional responsibilities and business acumen.
• Curiosity. You demonstrate an interest in finding underlying causes and understanding how the work you do relates to our business mission and strategy.
• Adaptability. You can adjust your focus and/or approach depending on results, strategy, or business needs.

Factors For Success

• Completion of at least 1 Society of Actuaries exam is required.
• Pursuing an undergraduate degree majoring in Mathematics, Statistics, Economics, Finance, or Actuarial Science.
• Demonstrates an appropriate level of actuarial knowledge for their experience level.
• Ability to problem solve and demonstrate leadership.
• Strong communication and analytical skills.
• Desire to gain more experience in the actuarial field.
• Participates actively in meetings, has 'meeting presence'.
• Ability to work well on a team as well as independently.
• Takes responsibility for quality, completeness and accuracy of work.
• Shows initiative, flexibility and resourcefulness.
• Ability to deal with challenging deadlines and prioritizes effectively.

Working For Pacific Life

• 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.

Job Responsibilities May Include
Savings & Retirement, Deal Pricing

• Take a key role in the quote process ensuring high technical standards and timely delivery of experience analyses and production of high-quality analysis.
• Support in the development of pricing methodologies and approaches, together with supporting timely implementation of treaties for Valuation purposes.
• Uses initiative and creative thinking to support delivery of new solutions, processes or approaches to pricing risk.
• Adhere to risk controls set up to protect the business.
• Support and collaborate with the Client Solutions and other key stakeholders in the quote process.

Actuarial Analytics & Insight, Protection

• Support quarterly and annual valuation and financial reporting activities under the following accounting and regulatory bases:

• US Statutory & US Tax.

• US GAAP.
• IFRS17 & LICAT.
• Economic Capital.

• Bermuda Statutory.

• This involves performing miscellaneous reserve calculations, reconciliations and analysis.

• Verifying and understanding actuarial assumptions.
• Calculating reserves and capital requirements from first principles.
• Assisting with reserve sensitivities and scenario testing.

Valuation, Capital

• Perform valuation model spot-checks under various accounting and regulatory bases, i.e. for sample policies, perform independent validation of system reserves generated in AXIS actuarial software.
• Confirming the accuracy and completeness of the valuation data.
• Documenting and explaining the results.
• Support other activities and projects as needed.
• Implementing changes in the AXIS actuarial model.
• Testing the impact of various valuation system changes.
• Participating in various other investigations.
• Opportunities to collaborate globally across Europe, Asia and Australia

Research & Development

• Play a key role in the annual North American protection experience analysis which directly feeds into our valuation assumptions.
• Apply statistical methods in the calibration of the divisional economic capital model via the "quantifying insurance risk" framework.
• Contribute to the development of key assumptions (mortality, longevity, critical illness, and disability assumptions) through analysis of internal and external data.
• Build your technical toolkit by working with tools such as Excel, R, SQL and Tableau to support the wider R&D team with improvements across processes, tools, models, and documentation, as well as challenging current practices.

Enterprise Actuarial Projects

• Contribute to complex actuarial projects, ensuring timely and accurate completion.
• Provide support across enterprise actuarial transformation efforts leading to efficiencies.
• Support implementing model development projects, conversions and large-scale changes.
• Prepare presentations for senior management, summarizing findings and providing actionable recommendations.
• Communicate complex actuarial concepts and results to non-actuarial stakeholders in an understandable manner.

Enterprise Capital Management

• Help drive the optimization of capital transactions to improve the company's overall financial strength
• Support any strategic capital structuring projects
• Contribute to pricing and implementation of new affiliate reinsurance transactions, collaborating across divisions, teams and the enterprise as a whole
• Produce and analyze projections for annual planning exercise and quarterly/ad-hoc forecasting work for the team's expected transactions
• Support quarterly valuation on our affiliate reinsurance transactions

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. 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

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.