Deal Pricing Actuary, Savings and Retirement

Deal Pricing Actuary, Savings and Retirement The Team The Savings & Retirement Deal Pricing team are responsible for producing the fees & premiums to send to clients in our global markets. The team covers a range of products across the bulk annuity market in Europe & North America, individual retirement products and a range of savings & protection benefits. The transactions will be across different structures including funded, longevity swaps and new business flow deals. Key Responsibilities The team focuses on the cashflow & capital modelling, ensuring the specific products & risks are appropriately captured in pricing. We will produce the deal metrics to ensure these meet all pricing hurdles & governance requirements. Work with the client solutions team to optimise deal structures to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re. For deals with a funded element, work closely with the S&R ALM team & the Pacific Life Investments team to set an investment strategy to appropriately match the liabilities & client needs. Pricing activities related to treaty execution, and ensure the required information is handed over to the S&R inforce management team for implementation. The Role We have an exciting opportunity for an individual with strong technical actuarial / investment background to join the S&R Deal pricing team delivering on the team’s responsibilities. Some Of The Responsibilities Of The Role Include Take ownership of the existing pricing tools (Tyche models and Excel models). Be responsible for the process of producing pricing quotes and making any upgrades and changes to the tools as required. Identify inefficiencies in pricing processes & controls and implement improvements to address these as part of PL Re’s drive for process enhancements. Understand macroeconomic assumptions (interest rates, credit spreads, FX) impact on pricing. Obtain and interpret required investment data from Bloomberg and from investment teams. Understand the drivers of capital requirements for S&R products and how these vary under different reinsurance structures, including across economic capital, BMA and NAIC RBC regimes. Work with the insurance pricing team on understanding benefit structures and developing the insurance basis for S&R transactions. Follow investment markets and translate changes in market conditions into changes to pricing. Work with the asset management team to agree investment assumptions for pricing. Collaborate with the client solutions team to develop our proposition and build strategies that manage and mitigate risks such as currency and inflation. Qualifications & Experience Core skills and experience: Strong technical skills to build and run actuarial models, including pricing tools. Prior experience in Pricing is helpful but not essential; broad understanding of modelling mortality and/or market risks is advantageous. Ideally recently qualified actuary and a member of the IFoA or SOA Ability to work independently on reviewing numbers, understanding drivers of changes, and sense-checking results at analyst level Ability to work in a flexible, dynamic team with occasional high-pressure deadlines; able to build relationships with colleagues in different teams and office locations Experience of transactions and/or pricing work is beneficial but not essential Strong experience of Excel and actuarial modelling software (Tyche or similar) Good understanding of market risks (interest rates, FX, credit spread, liquidity) and how they impact insurance capitalization Strong communication skills, able to convey complex actuarial concepts verbally and in writing Non-essential But Useful Skills And Experience Understanding of Pension Risk Transfer markets Understanding of life insurance company balance sheets and capital and profit reporting regimes (IFRS, Solvency II, US GAAP, BMA) Programming experience including VBA & Tyche Working For Pacific Life Re We value the unique qualities each person brings and support their ambitions. We work under pressure, strive for achievement, and also focus on work-life balance, wellbeing initiatives, volunteering opportunities and community involvement. Benefits (For Permanent And Fixed Term Employees) Leave 25 days of annual leave with option to buy/sell more days Adoption and fertility leave Generous enhanced parental leave Healthcare Comprehensive private insurance coverage for employee and dependents Group Life Insurance coverage of 9x basic annual salary and Group Income Protection up to 75% of basic annual salary Optical benefits Savings & Retirement 15% combined employee/employer contributions Wellness 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 As part of our commitment to diversity and inclusion, we provide reasonable adjustments during the recruitment process to ensure equal access. Please contact us about your needs so adjustments can be discussed, where possible. Pacific Life Re Values Please click here to view our company values Seniority level Entry level Employment type Full-time Job function Finance and Sales Industries: Insurance #J-18808-Ljbffr