Actuary, Pricing

Pacific Life; Toronto; On-site; CAD 128,000 - 149,000; Full time

Benefits offered by this job

23 days annual leave

Healthcare

Dental & Optical

RRSP company-matched

Wellness Program

Gym subsidy

Volunteer time off

Charitable matching

Job summary

Pacific Life Re is seeking an Actuary, Pricing to join our North America Pricing team in Toronto. You will focus on actuarial pricing for U.S.

retrocession pools and large block reinsurance transactions, with emphasis on Term, Whole Life, and Universal Life products, and potential LTC opportunities. You will collaborate with cross-functional partners, develop pricing assumptions for mortality, lapse, and expenses, maintain pricing models, and contribute to risk assessment and process

Qualifications

• FSA or equivalent actuarial designation required.
• Experience in reinsurance or direct insurance pricing, with a focus on individual life products.
• Proficiency in actuarial modelling software (Axis, Tyche, Prophet) and data analytics tools.

Responsibilities

• Assess U.S. reinsurance block or flow opportunities from pricing and risk perspectives.
• Manage pricing projects with support from senior actuaries.
• Develop pricing assumptions for mortality, lapse, and expenses under guidance of seniors.
• Collaborate with cross-functional teams to support pricing initiatives.
• Maintain and enhance pricing models and tools.
• Prepare pricing documentation and presentations for internal stakeholders.
• Stay informed on market trends in North America reinsurance.

Skills

Actuarial modelling software (Axis)

Axis

Tyche

Prophet

SQL

Python

R

Tableau

Excel/VBA

Communication skills

Education

FSA or equivalent designation

Job description

Actuary, Pricing

Reporting to the AVP Pricing, North America, this role will work on actuarial pricing for retrocession pools and large block reinsurance transactions written by the Protection Line of Business in North America. The Pricing Actuary will focus on pricing and risk assessment for large block deals within the U.S. market, specifically for Term, Whole Life (WL), and Universal Life (UL) products, while also considering Long-Term Care (LTC) as a potential future opportunity. This includes evaluating and structuring transactions, conducting experience analysis, and developing assumptions for mortality, morbidity, and lapse risks. The Pricing Actuary will also contribute to pricing model maintenance, support internal risk management efforts, and collaborate with global pricing teams to enhance pricing processes and methodologies. You’ll be working in a company that values your technical expertise, innovative thinking, and ability to communicate complex ideas effectively.

Responsibilities:

• Contribute to the assessment of U.S. reinsurance block or flow opportunities from both a pricing and risk perspective.
• Manage pricing projects and quotes with support from senior actuarial colleagues.
• Support the development of pricing assumptions for new opportunities, including mortality, lapse, and expense assumptions, under the guidance of senior team members.
• Collaborate with cross-functional teams (e.g. Business Development, Underwriting, Risk Management and R&D) to support pricing initiatives.
• Maintain and enhance pricing models and tools.
• Prepare pricing documentation and presentation for internal stakeholders.
• Stay informed on market trends and developments in North America reinsurance space.
• Contribute to the continuous improvement of pricing processes and frameworks.

Qualifications & Experience Essential:

• FSA, or equivalent actuarial designation with 4+ years of insurance/reinsurance experience.
• Experience in reinsurance or direct insurance pricing, with a focus on individual life products.
• Strong understanding of actuarial principles, risk assessment, and financial structuring of reinsurance deals.
• Proficiency in actuarial modelling software (e.g Axis, Tyche, Prophet) and data analytics tools (e.g., SQL, Python, R, Tableau, Excel/VBA).
• Excellent technical, analytical, and problem-solving skills.
• Effective communication and interpersonal skills.
• Strong organizational and time management skills.
• Innovative mindset with a focus on continuous improvement.
• Proactive, self-motivated, and able to work independently.

Desirable:

• Experience in the U.S. individual life and annuity markets, including development of mortality and lapse assumptions.
• Familiarity with pricing and financial modeling techniques for reinsurance transactions.
• Strong mentoring skills to develop and train junior team member.
• Project management experience.

Salary: $127,800.00 - $149, 100.00 CAD Compensation Range The compensation range noted represents the company’s good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location.

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. 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

• Leave 23 days of annual leave (Regular employees) with option to buy or sell more days
• Fertility leave
• Generous parental leave
• Healthcare Group Life Insurance and Accidental Death & Dismemberment coverage for all permanent employees
• Dental & Optical benefits
• Savings & Retirement RRSP: company-matched contributions
• Wellness Employee and Family Assistance Program
• Subsidized gym membership
• 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

Use of AI

As part of our commitment to a fair and efficient hiring experience, we want to inform you that we may use artificial intelligence (AI) tools to assist in reviewing resumes, and during the assessment process, including through platforms like HireVue. These tools help us identify relevant qualifications and streamline evaluations, but final decisions are always made by our hiring team. At Pacific Life Re, our vision is to bring an innovative and dynamic approach to the marketplace. Our global team is not afraid to disrupt and challenge industry thinking to provide the best life and health reinsurance services possible. Working in some of the most complex and fast-moving markets has taught us that knowledge and innovation go hand in hand. Today, we are continuing our rapid growth internationally with offices across Europe, Asia, North America, Australia, and Bermuda. With over 1000 employees across the globe, we take pride in our inclusive culture, underpinned by our values and behaviours, providing an environment where everyone can grow and develop.