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About the Role
The Savings & Retirement Deal Pricing team is responsible for producing fees and premiums for clients in global markets, covering bulk annuity, individual retirement, and savings & protection benefits across various structures. The role involves cashflow & capital modelling, ensuring products and risks are captured appropriately, and optimizing deal structures for commercial and capital efficiency.
Responsibilities
- Produce fees & premiums for clients in global markets.
- Cover a range of products including bulk annuity, individual retirement, and savings & protection benefits.
- Handle transactions across different structures like funded deals, longevity swaps, and new business flow deals.
- Focus on cashflow & capital modelling to ensure appropriate capture of products & risks.
- Produce deal metrics to meet pricing hurdles & governance requirements.
- Optimize deal structures in collaboration with the client solutions team.
- Set investment strategy for funded deals in coordination with S&R ALM and Pacific Life Investments teams.
- Manage pricing activities for treaty execution and ensure information handover to the S&R inforce management team.
- Take ownership of existing pricing tools (Tyche models and Excel models), including upgrades and changes.
- Identify and implement improvements to pricing processes & controls.
- Understand and analyze the impact of macroeconomic assumptions on pricing.
- Obtain and interpret required investment data from Bloomberg and investment teams.
- Understand the drivers of capital requirements for S&R products under different reinsurance structures and regulatory regimes.
- Collaborate with the insurance pricing team on benefit structures and developing the insurance basis for transactions.
- Monitor investment markets and translate market condition changes into pricing impacts.
- Agree investment assumptions with the asset management team.
- Develop propositions and strategies with the client solutions team to manage and mitigate risks.
Requirements
- Strong technical skills to build and run actuarial models, including pricing tools.
- Ability to work independently and critically review model outputs.
- Ability to understand model drivers and sense-check results.
- Ability to work in a flexible, dynamic team environment with occasional high-pressure deadlines.
- Ability to build relationships with colleagues in different teams and office locations.
- Strong experience of Excel and actuarial modelling software (Tyche or similar).
- Good general understanding of market risks and their impact on insurance capitalization.
- Strong communication skills, able to convey complex actuarial concepts to various audiences.
- Understanding of Pension Risk Transfer markets (useful).
- Understanding of life insurance company balance sheets and capital and profit reporting regimes (useful).
- Programming experience including VBA & Tyche (useful).
Skills
- Actuarial modelling
- Pricing tools
- Excel
- Tyche
- Bloomberg
- Macroeconomic assumptions analysis
- Market risk understanding
- Communication
Location
- Global markets
Work Type
- Full-time
Experience Level
- Ideally, recently qualified actuary
Education Level
- Member of the IFoA or SOA
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
- Pacific Life Re values every person in its global team, seeking to build expertise and support individual ambitions.
- The company fosters a culture where employees work hard, thrive on achievement, and also know how to have fun and relax.
- Team building days are regularly hosted to strengthen team connections and reflect on successes.
- A healthy work-life balance is important, supported by a range of employee benefits, social activities, and well-being initiatives.
- The company supports employee involvement in their communities through fundraising, charity events, and volunteering opportunities.
Equal Opportunity
- Committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities.
- Supports all employees to thrive and achieve their fullest potential.
- Provides reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities.