Model Risk Actuary, Divisional

Pacific Life; Greater London; Sur place; GBP 95 000 - 125 000; Plein temps

Avantages offerts par ce poste

Private medical insurance for you and…

Group Life Insurance

Savings & Retirement contributions

Wellness programmes

Cycle to Work scheme

Charitable matching

Résumé du poste

Pacific Life Re is seeking an experienced Model Risk Actuary to join the Model Risk Management (MRM) team in London. You will perform independent validation and risk reviews of actuarial models across the group, collaborating with model owners to strengthen governance, design, and controls.

The role offers exposure to AI-enabled models and a range of platforms, with opportunities to influence senior stakeholders.

Qualifications

• Qualified actuary with experience in actuarial modelling and model validation.
• Good understanding of governance, control design, documentation, testing and review standards for actuarial models.
• Ability to challenge methodologies and communicate evidence-based views clearly.

Responsabilités

• Schedule independent reviews of actuarial models under MRM framework.
• Lead targeted reviews in response to business requests or major model changes.
• Monitor remediation progress from previous reviews.
• Develop and present model risk information for business leaders.
• Identify recurring model risk themes and drive governance improvements.
• Present findings to model owners, senior leaders and stakeholders.
• Collaborate with Line 1 and Model Risk to prioritise reviews and support juniors.

Connaissances

Qualified Actuary

Actuarial modelling

Model validation

Risk oversight

Governance & controls

Stakeholder communication

Description du poste

Job Title Model Risk Actuary, Divisional Role Overview Join our Model Risk Management (MRM) team and play a key role in delivering independent validation and risk review of the actuarial models across PL Re. As part of the wider Risk function, the model risk team provides assurance to senior management and the Board on the effectiveness, accuracy and robustness of critical actuarial models. Working closely with model owners across the organisation, you will help strengthen model design, governance, processes, and controls. This is an outstanding opportunity for a strong technical actuary to broaden their commercial perspective and gain insight into the operations of a leading global reinsurer. You will work with a diverse range of teams and innovative models spanning Reporting, Pricing, R&D, Capital Management, Business Planning and Underwriting. Models will range from traditional actuarial models to novel AI solutions. The role offers exposure to a variety of modelling platforms, methodologies, and business applications, while providing the opportunity to develop and apply actuarial judgement and critical thinking to identify risks and drive continuous improvement of modelling practices across Pacific Life. We welcome applications from strong technical actuaries who are ready to independently lead complex reviews and influence senior stakeholders.

Role Responsibilities

• Scheduled independent reviews of actuarial models under PL's Model Risk Management (MRM) Framework.
• Targeted reviews in response to specific business requests, operational events or major model change.
• Monitoring and reviewing model owners' progress in addressing agreed remediation actions from previous reviews.
• Develop and deliver model risk management information for business leaders.
• Identify recurring model risk themes and deliver strategic model risk, governance and process improvement initiatives.
• Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders.
• Drive collaboration on strategic improvements between Line 1 delivery teams and Model Risk.
• Take ownership of complex reviews and initiatives, coordinate input from reviewers and stakeholders, contribute to review priorities, and support the development of junior colleagues.

Skills & Experience

Essential

• Qualified Actuary
• Relevant experience in actuarial modelling, model validation or risk oversight
• Good knowledge of actuarial model solutions and modelling software
• Good understanding of life insurance & reinsurance industry
• Understanding of effective governance, control design, documentation, testing and review standards for actuarial models.
• Proven ability to proactively problem solve and challenge existing practices
• Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly.
• Experience planning and delivering technical review work across competing priorities
• Strong report writing experience

Desirable

• Broad post-qualified actuarial experience
• Experience identifying and recommending solutions to critical issues
• Experience of delivering strategic model change and/or process improvement
• Experience of working within a model valuation and reporting team
• Experience of working within a capital management team
• Experience of working within a research and development (R&D) team

Competencies and Behaviours

• Demonstrates good analytical and technical skills
• Ability to manage competing priorities and deliver to agreed timescales
• Interpersonal, collaboration, verbal, and written communication skills
• Confidence engaging with and influencing senior stakeholders
• Continuous improvement mindset

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

You Can Be Who You Are

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.

Pacific Life Re Values

Please click here to view our company values

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.