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 on a hybrid schedule:
Savings & Retirement, Deal Pricing
Actuarial Analytics & Insight, Protection
Valuation, Capital
Research & Development
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!).
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.
Job Responsibilities may include:
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.
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.
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.
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 solve problems 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 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 wellbeing initiatives. We are also committed to supporting our employee's involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.
#LI-DNI
Do you find yourself questioning things and digging deeper when something doesn't look quite right to find the answer? Do you have an inquisitive mind? Do you demonstrate excellent judgement, decision-making skills, and have a high level of attention to detail? We pride ourselves in thinking differently and so want people like you who aren't afraid to challenge the norm.
Our Internship Program has become Pacific Life Re’s talent pipeline for full time early career opportunities. We look for talented, ambitious and hard-working university students to join our teams in our Toronto office. Our ideal candidate would thrive in our vibrant, collaborative culture. During your time with us, you'll gain hands-on experience from a range of projects and teams, all of which will give you a broad understanding of our business and the services that we provide to our clients.
• Competitive salaries
• Work-life balance
• Collaborative and inclusive culture
• Social activities and events
• Formal and informal mentoring
• Learning and development options
• Corporate Social Responsibility initiatives
• Lots of fun clubs to join!
