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About the Role
Join our Model Risk Management (MRM) team to perform independent validation and risk review of actuarial models. You will work with diverse teams and models, from traditional actuarial to AI solutions, gaining insight into a leading global reinsurer's operations. This role offers exposure to various modelling platforms and methodologies, allowing you to develop actuarial judgement and critical thinking to identify risks and drive improvements.
Responsibilities
- Scope, plan, and deliver model risk reviews, developing and defending conclusions.
- Conduct scheduled independent reviews of actuarial models under the MRM Framework.
- Perform targeted reviews in response to business requests, operational events, or major model changes.
- Monitor and review model owners' progress on remediation actions.
- Develop and deliver model risk management information for business leaders.
- Identify recurring model risk themes and support strategic model risk, governance, and process improvement initiatives.
- Present findings and recommendations to model owners, senior leaders, and stakeholders.
- Support collaboration on strategic improvements between delivery teams and Model Risk.
Requirements
- Near-qualified actuary
- 3+ years of relevant experience
- Good knowledge of actuarial models and modelling software
- Good understanding of the life insurance & reinsurance industry
- Proven ability to proactively problem-solve and challenge practices
- Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly
- Strong report writing skills
- Ability to manage competing priorities and projects
- Understanding of effective governance, control design, documentation, testing, and review standards for actuarial models (Desirable)
- Experience planning and delivering technical review work across competing priorities (Desirable)
- Experience identifying and recommending solutions to critical issues (Desirable)
Skills
- Analytical skills
- Technical skills
- Time management
- Interpersonal skills
- Collaboration skills
- Verbal communication skills
- Written communication skills
- Upward management skills
- Continuous improvement mindset
Location
- Global
Work Type
- Full-time
- Permanent
- Fixed Term
Experience Level
- 3+ years
Education Level
- Near-qualified actuary
Salary/Compensations
- Group Life Insurance coverage of 9x basic annual salary
- Group Income Protection up to 75% of basic annual salary
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
- 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 is a global reinsurer committed to valuing each person's unique qualities and supporting their ambitions.
- The company fosters a culture of hard work, achievement, and fun, with regular team-building events.
- A healthy work-life balance is prioritized, supported by a range of benefits and social activities.
- Pacific Life Re is committed to supporting employee involvement in their communities through fundraising, charity events, and 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.
- We will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities.