Senior Actuary, Pricing

Job Title Senior Actuary, Pricing Job Description The Savings & Retirement (S&R) team at Pacific Life Re is responsible for sourcing and executing reinsurance transactions with clients in our global retirement markets. We deliver bespoke reinsurance solutions to our clients to support policyholders’ retirement needs and financial goals. The Deal Pricing team within S&R is responsible for pricing all products and reinsurance structures globally. Key Responsibilities: Cashflow & capital modelling and comprehensive pricing and risk analysis on deal metrics that meet pricing hurdles & governance requirements. Setting and optimising investment strategies for funded transactions within risk tolerances while working closely with Pricing Solutions and Investment Management teams. Working closely with Client Solutions team to optimise deal structures and provide clients with strong commercial packages whilst ensuring efficient capital usage. Pricing activities related to treaty executions, and ensuring required information is handed over to inforce management team for implementation. The Role We have an exciting opportunity for an individual with strong technical skills from an actuarial or investment background to join the S&R Deal Pricing team. This role offers significant ownership of complex, high-profile transactions and broad exposure across pricing, investments, capital, structuring and senior stakeholder decision-making. Responsibilities of the role include: Take ownership for pricing funded reinsurance deals across global markets. Lead the analysis and delivery of individual transactions and present recommendations for approval at senior governance forums with visibility in front of the S&R Leadership Team, COO and CEO. Work with the AVP, Deal Pricing to implement & obtain approvals for new asset pricing approaches to improve competitiveness and proposition Identify inefficiencies in pricing processes & controls and lead projects implementing improvements to address these as part of PL Re’s drive for process transformation. Understanding of economic assumptions (interest rates, credit spreads, FX) impact on pricing. Being able to obtain and interpret required investment data from Bloomberg and from investment teams. Understand the drivers of capital requirements for S&R products and how these vary under different reinsurance structures. This includes across economic capital, Bermuda Monetary Authority and NAIC RBC regimes. Working with the S&R Insurance Pricing team on understanding benefit features and ensuring these are appropriately priced. Following financial markets and being able to translate and explain changes in the market conditions into changes to pricing. Work with the investment team to agree investment assumptions for pricing. Work with the client solutions team to continually develop our proposition and look for and build strategies that manage and mitigate risks such as currency, inflation etc. Qualifications & Experience Essential skills and experience: Prior experience in ALM and/or Pricing Strong technical and analytical skills to build & run actuarial/asset models and interpret the results. Professional qualifications (SOA, IFoA, CFA or similar) with 5+ years of professional experience in an investment or actuarial team. Ability to work independently on critically reviewing model results, understanding drivers of results, sense-checking results, and suggesting improvements to drive price benefits Deal-focused and commercially minded . Comfortable working in a transaction environment, managing competing priorities and collaborating with colleagues to meet commitments to internal stakeholders and clients. Strong experience of Excel and actuarial/asset modelling software (e.g. Tyche, Bloomberg, Python, R) Good understanding of market risks (interest rates, FX, credit spread, liquidity) and how they impact insurance capitalization. Strong communication skills. Able to communicate complex actuarial concepts to a range of audiences both verbally and written. Track record of stakeholder management & seeking approvals/pitching. Able to prioritise effectively and adapt as transaction and business priorities evolve. Desirable skills and experience: Broad understanding of capital modelling, asset risks & strategies for liability driven investments is desirable Familiarity with funded reinsurance, annuities or retirement products. Understanding of insurance company balance sheets including insurance risk capital frameworks 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. Of course, we take our work seriously and we know our team can operate under great pressure. 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 • Health Insurance • Dental Insurance • Life and AD&D • Long Term Disability Insurance • Group Registered Pension Plan • Social insurance and employee payroll tax • Corporate Travel Insurance • Employee Assistance Programme • Gym Membership • Housing Allowance You Can Be Who You Are We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential. 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