AVP, Deal Pricing, Methodology & Proposition

Pacific Life Re Services Limited; Toronto; On-site; CAD 160,000 - 187,000; Full time

Benefits offered by this job

23 days annual leave

Healthcare and life insurance

Dental & optical benefits

RRSP company matching

Wellness program

Subsidized gym membership

Charitable matching

Job summary

Pacific Life Re in Toronto, Canada seeks an AVP for Deal Pricing, Methodology & Proposition. The role focuses on cashflow/capital modelling, pricing governance, and structuring to deliver strong commercial packages with efficient capital usage. 4 days on-site in our Toronto office, 1 day remote.

The successful candidate will lead pricing activities, mentor junior staff, and collaborate with client solutions to expand our global retirement market offerings.

Qualifications

• Pricing strategies for asset and insurance risk.
• 7+ years post-qualified experience in life re/consulting.
• Solid understanding of life insurance balance sheets and GAAP/IFRS/Solvency II.

Responsibilities

• Maintain S&R Deal Pricing methodology framework and align with enterprise standards.
• Develop and maintain pricing models with high development standards.
• Provide technical leadership for methodology and proposition developments.
• Collaborate with client solutions and pricing teams on new strategies.
• Review pricing proposals with sound judgement and clear inputs.
• Coach and develop team members to meet goals.
• Support client relationships and Pacific Life Re branding efforts.
• Assist market entry for new products and regions.

Skills

actuarial pricing

investment background

life re/insurance

analytical skills

communication

team leadership

Education

Actuary designation or financial markets professional

Job description

Job Title AVP, Deal Pricing, Methodology & Proposition

Job Description The Team 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 will 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 optimise 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 optimising deal structuring to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re.

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 above. You will be a leader in the team providing high-quality analysis and supporting the technical & personal development of other team members. As a creative thinker the role holder will support the development of PL Re pricing sophistication by understanding latest pricing and analytical techniques and continuously improving internal approaches and expanding our proposition. This role is on-site 4 days per week and work from home 1 day per week in our Toronto office.

Key responsibilities

• Maintain S&R Deal Pricing methodology framework. Ensure this remains aligned with the enterprise frameworks and meets the needs of Savings & Retirement as the business develops
• Responsible for the maintenance and development of the S&R pricing models. Ensure high standards of development and changes in line with model development frameworks
• Provide technical leadership and expertise for methodology and proposition developments within S&R.
• Work closely with client solutions and the pricing and portfolio solutions team on implementing new strategies and solutions for our clients
• Demonstrate sound judgement in reviewing pricing proposals through constructive challenge and active recommendations. Including ensuring enterprise owned assumptions and inputs to the pricing are well understood and appropriate for the S&R business.
• Uses initiative and creative thinking to deliver new solutions, processes or approaches to pricing risk & develop new deal structures.
• Responsible for coaching and developing members of the team, to achieve team and company goals and individual performance standards
• Support and collaborate with the client solutions team in building and maintaining effective relationships with clients and promoting the Pacific Life Re brand.
• Support efforts to enter new markets & products and ensure appropriate pricing input is provided.
• Support the pricing of non-standard transactions by providing technical oversight and challenge.
• Ensure our pricing frameworks are well understood by the teams using these and lead delivery of training to maintain standards and technical excellence.

Qualifications & Experience

The successful candidate will:

• strong technical skills necessary to develop and implemented pricing strategies for asset and insurance risk.
• Prior pricing experience beneficial but not essential have a strong desire to improve the effectiveness and efficiency of the pricing team through development of models, frameworks and individuals be a qualified actuary or professional with financial markets/banking sectors with at least 7yrs post qualified experience.
• have strong and relevant experience in life (re)insurance and/or life consultancy, ideally with asset strategy expertise.
• have strong analytical skills, combined with sound judgement and commercial awareness, to produce justifiable and practical pricing advice even where data is sparse or difficult to work with.
• have a good understanding of the Savings & Retirement markets (e.g. UK PRT, Japan funded reinsurance) enable the development of junior members of the team and encourage ownership and responsibility for their individual task in respect deal pricing responsibilities.
• Have experience driving projects forward, ensuring targets are met & securing approvals from senior stakeholders
• Have strong written and verbal communication skills.
• Demonstrate an ability to work with colleagues at all levels of the organisation
• Have a solid understanding of life insurance company balance sheets, capital and profit reporting regimes (IFRS, Solvency II, US GAAP, BMA).

Salary range: $160, 290.00 - $187, 005.00 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.