AVP, Model Risk, Divisional

Job Title
AVP, Model Risk, Divisional

Job Description
AVP, Model Risk
We are actively seeking a talented Actuary to lead our Pacific Life Re Model Risk team in London. As AVP Model Risk, you will lead a dedicated team to drive model risk oversight across the Division. In this dynamic role, you will partner with business teams, model developers, and senior leaders to ensure models are fit for purpose and provide assurance to board and senior management. You will have exposure to cutting edge models across a range of platforms and types including Pricing, Financial Reporting, R&D, and AI/ML.

Key Responsibilities

• Validation and Oversight

• Lead comprehensive validations across Pricing, Valuation, Capital Planning, and Assumption Setting models; meet BMA Scenario Based Approach (SBA) review expectations where applicable.

• Raise the bar on methodologies and assumptions by challenging practices, identifying areas of potential risk and driving for meaningful improvements.
• Present clear actionable findings to model owners, senior leaders, and risk committees.

• Lead and develop a team of model risk professionals.

• Collaboration and Thought Leadership

• Collaborate with cross-domain subject experts to understand and impact the business more holistically and contribute to the evolution of the MRM Framework.

• Guide business teams on efficient modeling techniques and robust governance practices.
• Monitor industry trends, emerging practices, and modeling solutions to inform recommendations.

The Experience You Will Bring

• Qualified Actuary (FIA or equivalent) with strong post-qualified experience.
• Expertise in actuarial modeling, model validations or audits; good understanding of risk and control frameworks.
• Strong knowledge of different reporting bases (BMA, US GAAP, IFRS17, Solvency II).
• Experience in the Life (Re)insurance industry, in areas of financial reporting, forecasting, or pricing.
• Ability to influence and challenge both senior leaders and technical teams effectively.
• Experience with Tyche, SQL, R, and Tableau.

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