AVP, Risk, Europe

Job Title

Job Description

Role Overview

This position plays a key leadership role in the Risk team of Pacific Life Re ("PL Re"), which includes the UK branch of Pacific Life Re International Limited ("RIBM"). The role will represent Risk on the Europe and North America Market Leadership Committee, be expected to fulfil the UK branch 'SMF 4 – Chief Risk' regulated responsibilities and report to the Global VP, Risk.

The role will be instrumental in supporting the oversight and monitoring of an effective risk management framework and ensuring a consistent and risk-focussed approach is used to assess and implement key initiatives.

The role is varied and dynamic, and there will typically be involvement across several different projects and ad-hoc pieces of work. As such, the AVP, Risk will contribute to key strategic and operational decisions for the business, in particular the Europe and North America regions.

The role is responsible for supporting risk management activities in line with the Risk Vision and in a manner consistent with the company values and behaviours.

This includes providing objective advice on and effective challenge to activities and decisions that may materially impact the Division's risk profile and reporting to the Division Risk Management Committee (DRMC) and relevant boards and committees as necessary.

The Division Risk team works closely with other functions including Pricing, Research & Development, Business Development, Corporate Actuarial and Finance, in addition to the Enterprise Risk team. A collaborative and proactive attitude is therefore a must for the role.

Role Responsibilities

The AVP, Risk plays a key leadership role in the Risk function, whose responsibilities include:

• Engaging in key decisions where second line oversight is required including transaction reviews, material projects and assumption governance
• Representing the Risk Function on relevant leadership forums, in particular for this role the Europe and North America Market Leadership Committee and the UK Branch management committee, and providing expert advice on risk-related matters
• Monitoring, validation and analysing economic capital requirements
• Developing appropriate stress and scenario analysis to derive meaningful insights
• Carrying out 'second line' risk management including risk identification, monitoring and assessment, and providing risk management tools and guidance
• Leading delivery of the Own Risk and Solvency Assessment (ORSA) or equivalent
• Oversight of the risk management system and associated reporting metrics
• Developing risk framework, including introduction of new limits and policy refinement
• Overseeing of the implementation and ongoing compliance with the risk management framework, including recording and investigating operational events and supporting a strong risk management culture
• Reporting to appropriate RIBM and Pacific Life Re Division bodies

Skills & Experience

• A relevant professional qualification, preferably with 7+ years' relevant business experience
• Preferably an understanding of:
  • Risk management frameworks and how to implement and maintain them
  • Use and implementation of economic capital models
  • Actuarial processes and requirements, including assumptions and modelling
  • Relevant aspects of the regulatory environment and financial reporting standards

Competencies and Behaviours:

• Showcasing appropriate behaviours in decision-making, engagement with internal and external parties, and ensuring risk and compliance culture is appropriate
• Demonstrates an appropriate level of technical skills for their role and an appreciation of current issues affecting their profession and the life reinsurance industry
• Values diverse perspectives and fosters an environment where all voices are heard
• Ability and confidence to constructively challenge colleagues at all levels, and a willingness to thoughtfully question existing practices
• Ability to communicate complex concepts and information to a variety of stakeholders (management, regulators, board, colleagues) both orally and in writing
• Can build good rapport and relationships both externally and internally
• Communicates clearly and effectively with a wide range of audiences, adapting as needed
• Shows initiative, flexibility and resourcefulness
• Takes responsibility for high-quality delivery and supports others in doing the same
• Critically evaluates and challenges current work practices
• Can deal with challenging deadlines and prioritises effectively
• Provides accurate and timely updates and escalates issues appropriately
• Shares information, knowledge, and experience openly

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 (Only 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 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