Corporate Actuary

Pacific Life Re; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

An international reinsurance company in London is seeking a Corporate Actuary with a strong actuarial background and at least 3 years of experience in life insurance or reinsurance. The role involves analyzing business plans, engaging with stakeholders, and contributing to the S&R business. The firm offers competitive benefits, including 25 days of annual leave, comprehensive private insurance, and a subsidized gym membership.

Benefits

25 days of annual leave

Comprehensive private insurance

Subsidized gym membership

15% combined pension contributions

Qualifications

• Minimum of 3 years’ experience in life insurance or life reinsurance.
• Strong understanding of actuarial valuation principles.
• Ability to understand and apply new concepts quickly.

Responsibilities

• Support in analysing and communicating business plan results.
• Engage with S&R on future products and impacts on reporting bases.
• Support production of MI for in-force management projects.

Skills

Analytical skills

Problem-solving skills

Communication skills

Attention to detail

Education

Qualified actuary

Job description

Overview

Job Title – Corporate Actuary

Job Description

The Actuarial Analytics & Insights, S&R team forms part of the Corporate Actuarial (CA) function within Divisional Business Services (DBS) and is responsible for the Savings and Retirement (S&R) business. The S&R Line of Business delivers Funded and Non-funded reinsurance solutions to global insurance clients, catering for the increasing demand from clients in various jurisdictions for innovative reinsurance support that can transfer both longevity and asset risk.

The team are responsible for performing analysis and communicating insights in relation to both the in-force book and new business across US GAAP, US Statutory (US STAT), Internal Economic Capital (EC) and Bermuda Monetary Authority (BMA) reporting bases. The team’s focus is on developing a deep understanding of both the asset and liability side of the balance sheets, delivering value-add outcomes that support S&R and wider PL Re’s strategic priorities.

The team will interact closely with S&R and will be a key part of DBS and PL Re, interacting with CA (including the Valuation team and Actuarial Systems Team), Operations, Finance, R&D, and Pricing.

The Role

We have an exciting opportunity for an individual with a strong actuarial background and relevant experience to join the Corporate Actuarial function as an Actuary, focusing on Savings & Retirement (S&R) business.

Reporting to the AVP, Actuarial Analytics and Insights, S&R, this role offers a challenging variety of work, exposure to senior management and excellent opportunities to make positive contributions to S&R and CA. The role will be very varied with opportunities to get involved in business plan, quarterly reporting, new business onboarding and in-force management.

As part of this role, you will work with other functions within DBS and work with other Corporate Actuarial teams across Pacific Life. Similarly, you will work closely with the S&R Line of Business team, contributing to PL Re’s success in what is a growing and dynamic marketplace. Strong communication skills, ability to understand new concepts and strong problem-solving skills are therefore required to ensure challenges and opportunities relating to both the in-force book and new initiatives are well understood by relevant stakeholders.

Responsibilities

• Support in analysing and communicating business plan results
• Support in attribution and explanation of quarterly reporting results
• Engage with S&R on future products and capabilities and impacts on all reporting bases
• Support S&R and CA with any non-BAU activities ad hoc analysis, as required
• Be involved in end-to-end thinking and cross-collaboration across DBS to gain holistic insights on future S&R products
• Support in any regulatory requirements, specifically from the BMA
• Support production of MI for any in-force management projects
• Manage effective networks and demonstrate excellent communication.
• Build relationships with stakeholders in S&R and wider DBS, keeping Actuarial Analytics & Insights (S&R) aware of relevant updates.

Qualifications & Experience

Essential

• Qualified actuary with minimum of 3 years’ experience in life insurance or life reinsurance
• Strong understanding of actuarial valuation principles and processes, knowledge and experience of actuarial control cycle is a plus
• Proven ability to work with other functions, developing and maintaining working relationships with all parties
• Strong analytical, problem solving and communication skills
• Ability to work on own initiative and pro-actively manage a varied and demanding workload
• Detail-oriented with the ability to work to timelines
• Ability to understand and apply new concepts quickly
• Shows initiative, flexibility, and resourcefulness
• Embraces change and can work in a fluid environment

Desirable Experience

• Demonstrable knowledge of US GAAP and/or BMA regulations

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

Pacific Life Re values and company information are available in our public materials.