Director, Liquidity Risk

Pacific RE; City Of London; On-site; GBP 90,000 - 130,000; Full time

Job summary

A leading reinsurance firm in London seeks a Director of Liquidity Risk to enhance liquidity risk management capabilities. Responsibilities include developing the liquidity risk framework, conducting stress tests, and collaborating with senior stakeholders. The ideal candidate should have at least 10 years of experience in the insurance sector and robust analytical skills. The role offers a competitive salary and various employee benefits.

Benefits

25 days of annual leave

Comprehensive private healthcare

Subsidized gym membership

Qualifications

• At least 10 years of business experience, preferably in life insurance or reinsurance.
• Ability to communicate complex concepts to various stakeholders.
• Experience providing robust challenges to senior management.

Responsibilities

• Develop and enhance the liquidity risk framework and scenarios.
• Design and implement risk appetites for liquidity levers.
• Lead the development of the Bermuda Contingent Liquidity Plan.

Skills

Analytical skills

Problem-solving skills

Collaboration

Education

Professional qualification

Job description

Role description

The Director, Liquidity Risk will play a key part in Pacific Life’s growth and long-term success by supporting the development of the enterprise liquidity risk management capabilities. We’re seeking a talented Director, Liquidity Risk to join our Enterprise Risk team to evolve and enhance our liquidity risk management. The role is varied and dynamic, with work contributing to key strategic and operational initiatives. The role focuses on:

• Development of the liquidity risk framework including embedding Bermuda entities and refinement of scenarios
• Design and implement risk appetites for liquidity levers
• Input into the annual Commercial Insurer’s Solvency Self-Assessment (CISSA) process incorporating analysis of liquidity stress testing
• Support the production of certain liquidity stress tests and regular monitoring against limits

The successful candidate should have a strong background in liquidity risk acquired within a life insurance or reinsurance company. You should also have excellent analytical and problem-solving skills, as well as the ability to work collaboratively with others.

This role will involve working with senior stakeholders across the Enterprise, across all legal entities and Divisions as part of the Enterprise Risk team based in Newport Beach.

Core Duties

Risk framework

• Develop our liquidity risk framework including embedding Bermuda entities and assessment of refinement opportunities
• Design and implement risk appetites for liquidity levers
• Support liquidity assessments of investing in private / less liquid assets
• Investigate liquidity costings in new business pricing to propose appropriate allowances

Stress and scenario analysis

• Develop appropriate liquidity stress and scenario analysis to derive meaningful insights on internal liquidity needs
• Review and challenge liquidity stress testing results at both Division and aggregate legal entity levels

Bermuda entities

• Lead the development of the Bermuda Contingent Liquidity Plan
• Design and run tabletop exercises to test the Bermuda Contingent Liquidity Plan
• Support the production of certain liquidity stress tests and regular monitoring against limits
• Develop Bermuda Risk MI to recommend and refine liquidity metrics

Qualifications & Experience

Essential

• A relevant professional qualification with at least 10 years’ business experience
• Life insurance or reinsurance industry experience
• Ability and confidence to provide robust challenge to colleagues, including senior management, and a willingness to challenge the status quo
• Ability to communicate complex concepts and information to a variety of stakeholders (management, regulators, board, staff) both orally and in writing

Desirable

• Familiarity with capital bases and financial reporting standards
• Understanding of risk management frameworks
• Knowledge and awareness of global reinsurance 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. 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

We value diversity and inclusion and are committed to creating an inclusive environment across our global team. Our company values guide how we work together and serve clients.