MB's Monaghan Promoted by Pacific Life

Manhattan Beach resident Liam Monaghan has been promoted to assistant vice president, Variable Annuity Product Actuary, Retirement Solutions Division with Pacific Life Insurance Company, said the company’s Chairman and Chief Executive Officer James T. Morris. Monaghan was one of 17 individuals promoted to various positions.

Monaghan, FSA, FIA, MAAA, joined Pacific Life in 2010 as an actuarial consultant for the Retirement Solutions Division, according to a press release. Within six months, he became an actuarial director with accountabilities that included establishing variable annuity product pricing and analysis procedures to facilitate rapid product development.

As assistant vice president, he will "provide strategic and tactical actuarial leadership for the variable annuity product line and design new products that meet the needs of key distribution partners, producers, and consumers," said the press release.

Monaghan holds a bachelor’s degree in actuarial science from the University of Cape Town, South Africa, as well 

According to the American Academy of Actuaries, "Actuaries put a price tag on risk. They are the leading professionals in finding ways to manage risk, and are experts in:

• evaluating the likelihood of future events.
• reducing the impact of undesirable events.
• designing creative ways to reduce the likelihood of undesirable events.

Actuaries apply their mathematical expertise, statistical knowledge, economic and financial analyses, and problem-solving skills to a wide range of business problems. They help companies evaluate the long-term financial implications of their decisions; they develop new ways to manage risk, and they estimate the costs of uncertain future events ranging from tornadoes and hurricanes to changes in life expectancy.

Actuaries work in all sectors of the economy, though they are more heavily represented in the financial services sector. Their work is the analytical backbone of the nation's financial security programs, including insurance, Social Security, and Medicare.

Some actuaries have degrees in actuarial science, while others have degrees in business, economics, math, or the liberal arts."