Actuarial Analyst, Pricing - Savings & Retirement

Job description

Job Title Actuarial Analyst, Pricing - Savings & Retirement Job Description The Savings & Retirement (S&R) team at Pacific Life Re is responsible for sourcing opportunities and executing reinsurance transactions with clients in our target 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 across our global markets. Key Responsibilities: The team focusses on the cashflow & capital modelling, ensuring the specific products & risks are appropriately captured in pricing. We produce the deal metrics to ensure these meet all pricing hurdles & governance requirements. We are responsible for setting the investment strategy for funded transactions and seek to optimize this within our investment risk tolerances. We achieve this by working closely with the ALM and investment management teams. Working with the Client Solutions team, we have a strong focus on optimizing deal structuring to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re. The team is responsible for the pricing activities related to treaty execution, and ensuring the required information is handed over to the S&R inforce management team for implementation. We have an exciting opportunity for an analytically minded individual with a strong quantitative background to join the S&R Deal Pricing team. This role offers the opportunity to develop actuarial, investment and commercial expertise while working on complex reinsurance transactions across global Savings & Retirement markets. Responsibilities of the role include: Support the pricing of S&R transactions across products and markets by performing analysis, preparing pricing inputs and contributing to quote delivery. Assist in the development, testing and implementation of pricing methodologies, proposition enhancements and model improvements. Maintain and enhance pricing models, tools and databases to support efficient and accurate pricing. Support the collection, validation and analysis of investment and market data, including interest rates, credit spreads, FX rates and asset characteristics from Bloomberg and internal investment teams. Develop an understanding of how investment assumptions, insurance assumptions and transaction structures impact pricing outcomes. Assist in analyzing the capital implications of S&R transactions under various regulatory and internal capital frameworks. Work with colleagues across Deal Pricing, Insurance Pricing, asset management and Client Solutions to support transaction analysis and proposition development. Monitor financial market developments and support analysis of how changing market conditions affect pricing and transaction competitiveness. Contribute to projects focused on improving pricing models, controls, automation and governance processes as part of PL Re’s drive for process enhancements. Prepare analyses, reports and presentations to support pricing decisions and internal governance processes. Build technical knowledge of S&R products, reinsurance structures, actuarial techniques and investment concepts through on-the-job learning and professional development. Support the documentation of pricing methodologies, assumptions, processes and model changes to ensure strong governance and knowledge sharing. Core skills and experience: Strong quantitative and analytical skills, with the ability to work with complex datasets and interpret model outputs. An actuarial, mathematics, statistics, finance, economics or other quantitative background is preferred. Progress towards a professional qualification (SOA, IFoA, CFA or similar), or a willingness to pursue relevant professional qualifications. Relevant experience in an actuarial, investment, insurance, reinsurance or other quantitative role is beneficial but not essential. Prior pricing experience is beneficial but not essential. Ability to analyze results, identify key drivers of changes, perform reasonableness checks and investigate unexpected outcomes. Strong attention to detail and commitment to producing high-quality work. Ability to manage multiple priorities and deliver work to tight deadlines, including during periods of heightened deal activity. Good knowledge of Excel and an interest in developing modelling, data analysis and automation skills. Experience with actuarial, investment or programming tools would be advantageous. Basic understanding of financial markets and investment concepts, including interest rates, credit spreads, foreign exchange and fixed income assets, is desirable. Strong problem-solving skills and a willingness to learn new technical concepts across actuarial, investment and reinsurance disciplines. Effective written and verbal communication skills, with the ability to explain technical analysis clearly to colleagues and stakeholders. Collaborative approach with the ability to work effectively as part of a multidisciplinary team. Adaptable and proactive, with a willingness to take ownership of tasks and contribute to continuous improvement initiatives. Whilst candidates do not need all of the experience & skills listed above, they should be able to demonstrate strong analytical ability, a willingness to learn and the potential to develop within a fast-paced environment. 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