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About the Role

Join our Model Risk Management (MRM) team to deliver independent validation and risk review of actuarial models across PL Re. You will work closely with model owners to strengthen model design, governance, processes, and controls, gaining insight into the operations of a leading global reinsurer. This role offers exposure to diverse modelling platforms, methodologies, and business applications, with the opportunity to develop actuarial judgement and critical thinking.

Responsibilities

Independently scope, plan and deliver model risk reviews while developing and defending review conclusions.
Conduct scheduled independent reviews of actuarial models under PL’s Model Risk Management (MRM) Framework.
Perform targeted reviews in response to specific business requests, operational events or major model change.
Monitor and review model owners’ progress in addressing agreed remediation actions from previous reviews.
Develop and deliver model risk management information for business leaders.
Identify recurring model risk themes and deliver strategic model risk, governance and process improvement initiatives.
Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders.
Drive collaboration on strategic improvements between Line 1 delivery teams and Model Risk.
Take ownership of complex reviews and initiatives, coordinate input from reviewers and stakeholders, contribute to review priorities, and support the development of junior colleagues.

Requirements

Qualified Actuary
Relevant experience in actuarial modelling, model validation or risk oversight
Good knowledge of actuarial model solutions and modelling software
Good understanding of life insurance & reinsurance industry
Understanding of effective governance, control design, documentation, testing and review standards for actuarial models.
Proven ability to proactively problem solve and challenge existing practices
Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly.
Experience planning and delivering technical review work across competing priorities
Strong report writing experience
Broad post-qualified actuarial experience
Experience identifying and recommending solutions to critical issues
Experience of delivering strategic model change and/or process improvement
Experience of working within a model valuation and reporting team
Experience of working within a capital management team
Experience of working within a research and development (R&D) team
Demonstrates good analytical and technical skills
Ability to manage competing priorities and deliver to agreed timescales
Interpersonal, collaboration, verbal, and written communication skills
Confidence engaging with and influencing senior stakeholders
Continuous improvement mindset

Skills

Actuarial modelling
Model validation
Risk oversight
Actuarial model solutions
Modelling software
Life insurance & reinsurance industry knowledge
Governance, control design, documentation, testing and review standards for actuarial models
Problem solving
Challenging existing practices
Independent judgement
Critical thinking
Technical review planning and delivery
Report writing
Identifying and recommending solutions
Strategic model change
Process improvement
Model valuation and reporting
Capital management
Research and development (R&D)
Analytical skills
Collaboration
Verbal communication
Written communication
Stakeholder engagement
Influencing senior stakeholders

Location

Global

Work Type

Full-time

Experience Level

Qualified Actuary
Relevant experience
Broad post-qualified actuarial experience

Education Level

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

Pacific Life Re is a leading global reinsurer.
We value every person in our global team for the unique qualities they bring to our business and 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.