Actuary, Valuation
Pacific Life Re
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Benefits offered by this job
Job summary
Pacific Life Re is seeking an Actuary for the Valuation team in Greater London. This role will focus on enhancing the actuarial modelling framework, ensuring models align with business needs, and providing crucial insights for Financial Reporting.
The ideal candidate should be a qualified actuary with 3–6 years of experience in life insurance, alongside strong capabilities in actuarial modelling systems. The role offers a collaborative environment with opportunities for personal and professional growth.
Qualifications
- Qualified or nearly qualified actuary with relevant experience.
- Experience with Tyche modelling systems is highly desirable.
- Strong analytical skills and attention to detail.
Responsibilities
- Support effective operation and development of the Tyche modelling platform.
- Lead the definition and documentation of model requirements.
- Implement new business and model enhancements.
Skills
Education
Job description
The Global Valuation Team at Pacific Life Re is responsible for the actuarial valuation of our diverse lines of business and global markets. The team will run and validate our integrated Tyche models to deliver insights across PL Re. They will support our long-term growth by implementing new business, continuously improving processes and specifying and testing future model changes, working closely with our Actuarial Systems Team who develop and maintain the models. The team will be a key part of PL Re’s Divisional Business Services, interacting with CA teams, Operations, Finance, R&D, and Pricing.
Actuary, Valuation
Our actuarial models are vital to the way we run our business, and the Valuation team will provide crucial insights across Financial Reporting, Business Planning and other processes. The team is at the start of an exciting transformation journey, driven by project Unify, towards more automated and efficient processes, making this an exciting time to join the team.
This role provides an opportunity to play a key role in the effective operation and governance of the actuarial modelling framework within the Valuation team. You will apply strong technical expertise to support the maintenance, testing and improvement of our modelling framework, helping to ensure that models remain robust, compliant and aligned with business needs. You will work closely with the wider Corporate Actuarial (CA) teams and the Actuarial Systems Team (AST) to ensure that valuation models are implemented, maintained and operated in a consistent and controlled manner. The role focuses on the structure, integrity and usability of the modelling system, including model inputs, outputs, hierarchies and change management processes. A key responsibility will be supporting the translation of business and actuarial requirements into clear model specifications, ensuring that model developments are implemented in a structured and controlled way and aligned to long-term vision & principles for the Global Actuarial Models. You will also play an important role in testing model releases and validating that model behaviour aligns with expected outcomes. The role will contribute to the ongoing design and development of a robust modelling framework by improving model capabilities, strengthening model controls and enhancing the consistency of model usage across the team. This is a highly collaborative role working with global teams to support both regular valuation activities and wider modelling initiatives.
- Work closely with AST to support effective operation and development of the Tyche modelling platform
- Lead the definition and documentation of model requirements arising from valuation and business needs
- Support the implementation of new business and model enhancements within the modelling framework
- Support the structured delivery of model changes through design and execution of User Acceptance Testing (UAT)
- Maintain clear documentation covering model structure, controls, assumptions, inputs and outputs
- Support the development and maintenance of baselining processes to monitor model behaviour across releases
- Assist in implementing and maintaining model governance processes, including version control and change tracking
- Contribute to improving the efficiency, robustness and scalability of modelling processes
- Providing technical support and training to team members and stakeholders
- Supporting project-based and other modelling activities as required
- Qualified or nearly qualified actuary with 3–6 years’ experience in life insurance or life reinsurance
- Strong experience working with actuarial modelling systems (Tyche experience highly desirable) and proficient with Microsoft Excel
- Systems-oriented mindset, with interest in how actuarial models are structured, governed and operated
- Experience working with model inputs, outputs and data hierarchies within actuarial modelling frameworks
- Track record of challenging and improving processes and contributing to a culture of continuous improvement
- Strong analytical and problem-solving capabilities with high attention to detail
- Ability to translate business requirements into clear model specifications
- Experience drafting business requirements, supporting model testing, or model change delivery desirable
- Ability to work on own initiative and proactively manage a varied and demanding workload
- Systems thinker with a strong interest in modelling frameworks and infrastructure
- Effective communication skills, both verbal and written
- Highly organised with strong attention to detail
- Ability to work independently while coordinating with multiple teams and maintaining working relationships
- Adaptability to changing priorities and evolving environments
- Willingness to challenge the status quo and identify opportunities for improvement
- Ability to understand and apply new concepts quickly, demonstrating flexibility and resourcefulness
- Proven focus on quality, ensuring deliverables are accurate and fit for purpose
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.
- 25 days of annual leave with option to buy/sell more days
- Adoption and fertility leave
- Generous enhanced parental leave
- 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
- 15% combined employee/employer contributions
- Subsidized gym membership
- Access to Employee Assistance Program
- Cycle to Work and Electric Car Salary Sacrifice Scheme
- Time off for volunteeringCharitable matching of employee donations
We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential. 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.
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