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About the Role
The global Valuation team at Pacific Life Re is responsible for the actuarial valuation of diverse business lines and global markets, running and validating integrated AXIS & Tyche models to deliver insights. The team supports long-term growth by implementing new business, improving processes, and specifying/testing future model changes. This role is part of an exciting transformation journey towards more automated and efficient processes.
Responsibilities
- Produce and validate actuarial model outputs across all accounting bases (US GAAP LDTI, IFRS4, EC, BMA, US STAT) for Financial Reporting and Business Plan, across multiple legal entities.
- Handle ad-hoc requests from other CA teams, such as modelling potential new deal structures or carrying out stress/scenario modelling runs.
- Perform controls and validations to ensure the completeness and accuracy of modelled results.
- Develop and maintain a close working relationship with other members of the global Valuation team, as well as other CA teams.
- Own model inputs, outputs, and other processes related to statutory accounting bases, e.g., demographic assumptions, IBNR factors.
- Continuously improve modelling processes, including oversight of related deliverables from the Unify program.
- Specify model requirements and test new developments.
- Assist with model updates and runs on other bases as required.
Requirements
- Newly qualified actuary with a minimum of 3 years’ experience in life insurance or life reinsurance.
- Experience with actuarial modelling software (Tyche preferred) and proficient with Microsoft Excel.
- Experience of challenging/improving processes and contributing to continuous improvement.
- Experience with the introduction of new processes, controls, and systems.
- In-depth understanding of the Corporate Actuarial function.
- Good knowledge of EC, BMA and/or US GAAP LDTI, including first-hand experience of associated modelling complexities.
- Ability to work on own initiative and proactively contribute to a varied and demanding workload.
- Effective communication skills, both verbal and written.
- Proven focus on quality, ensuring deliverables are accurate and fit for purpose.
- Proven ability to work with other functions, developing and maintaining working relationships.
- Ability to understand and apply new concepts quickly, showing initiative, flexibility, and resourcefulness.
- Adaptability to change and evolving environments.
- Pragmatic, able to balance accuracy with effort.
- Willingness to challenge the status quo.
Skills
- Actuarial modelling software (Tyche preferred)
- Microsoft Excel
- Continuous improvement
- New process implementation
- New control implementation
- New system implementation
- Corporate Actuarial function understanding
- EC knowledge
- BMA knowledge
- US GAAP LDTI knowledge
- Communication skills
- Quality focus
- Collaboration
- Adaptability
- Problem-solving
Experience Level
- Minimum of 3 years’ experience
Education Level
- Newly qualified actuary
Benefits
- 25 days of annual leave with option to buy/sell more days
- Adoption and fertility leave
- Generous enhanced parental leave
- Comprehensive private insurance coverage for employee and dependents
- Group Life Insurance coverage of 9x basic annual salary
- Group Income Protection up to 75% of basic annual salary
- Optical benefits
- 15% combined employee/employer contributions to savings/retirement
- Subsidized gym membership
- Access to Employee Assistance Program
- Cycle to Work and Electric Car Salary Sacrifice Scheme
- Time off for volunteering
- Charitable matching of employee donations
About the Company
- 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.
Equal Opportunity
- 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.