Pacific Life today announced Alessandro Papa as its Chief Risk Officer. In this role, he will serve in an enterprise-wide capacity overseeing the company’s risk management framework and corporate actuarial function.
Papa joins Pacific Life from MetLife, where he served as Chief of Staff to the President and Chief Executive Officer.
In this role he was also responsible for driving strategic initiatives and managing MetLife’s Reinvestment fund.
Previously, Papa served as head of Insurance and Product Risk Management where he oversaw actuarial assumptions and pricing for major products, as well as the development of insurance risk analytics within Global Risk Management,
Also at MetLife, he worked as U.S. Chief Risk Officer, where he was responsible for risk oversight of all U.S. business and MetLife Holding operations.
Going forward, Papa will be responsible for the maintenance and execution of Pacific Life’s risk strategy, and will have oversight for the corporate actuarial function.
His position will also entail governance activities as Chair of the Enterprise Risk Committee and active participation in Board Audit and Investment & Finance Committees.
“Alessandro’s leadership and extensive experience in insurance risk and asset liability management not only equip him to be a strong leader in our organization, but also make him a valuable asset as we continue to execute our long-term enterprise strategy,” said Darryl Button, Chief Financial Officer, Pacific Life.
“His impressive track record of successfully designing and implementing leading-edge risk management strategies and capabilities will support the delivery of our strategic growth goals.”
Papa replaces John Dieck, Pacific Life’s previous Chief Risk Officer, who was appointed to Chief Financial Officer of the Life Insurance Division.
