Actuary, Pricing, Protection, Europe

Job Title

Actuary, Pricing, Protection, Europe

Job Description

Actuary, Pricing, Protection, Europe

We’re a global life reinsurer operating in Europe, Asia, Australia and North America, and are part of Pacific Life, a mutual insurance group. Fuelled by our pursuit of excellence and a quest to innovate, we’re proud to do things differently. Our people aren’t afraid to disrupt and challenge industry thinking and provide the best protection and savings & retirement reinsurance products and services possible.

The Team

The Protection Pricing team based in London is responsible for experience analysis and best estimate assumption setting as part of reinsurance tender exercises for our Europe Protection business. As part of the wider global Protection line of business, we offer opportunity to collaborate with and learn from our colleagues across the world.

Supporting our clients to find innovative ways to solve the problems they face, we are focused on balancing a high degree of technical bias with an appropriate level of pragmatism and commercial insight. The team work closely with our colleagues across the business including Underwriting, Claims, Client Solutions, R&D and Strategic Analytics to bring our broad expertise into our pricing analysis.

The Role

As a proactive and technical Pricing Actuary you will be an integral part of team delivering reinsurance terms to clients predominantly in the UK and Ireland. With a focus on Protection products (Life, CI & IP) you will work alongside junior and senior members of the team with direct responsibility for assumption setting and delivery of reinsurance responses.

Reporting to the AVP, Pricing, Protection, Europe, this role will offer a challenging variety of work with a high degree of autonomy and responsibility. It will provide access to senior leadership across the Global Protection business and the opportunity to positively and visibly contribute to the delivery of our strategy.

The successful candidate will demonstrate a high level of initiative and strong problem-solving skills to approach their work in a well-considered way, with the ability to understand new concepts and communicate effectively in various settings.

You will be supported to grow your wide-ranging capabilities as you progress and we encourage all members of the team to be proactive in their development.

Key Responsibilities

Leads on the delivery of a range of pricing activities with direct responsibility for ensuring we are able to win and maintain profitable business.

• Leads the technical pricing and sign-off process during tenders and reviews of inforce business. Managing the quote team and effectively delegating to ensure timely delivery.
• Derives assumptions for opportunities with minimal guidance, including those for new benefits/risks and/or where limited data is available, with good understanding of key risk factors.
• Supports marketing and business development in building and maintaining effective relationships with clients and promoting the business’ brand. This includes working directly with pricing counterparts at clients during quotes.
• Produces well-written reports, with clear documentation of thought process and a concise executive summary which captures key business and technical considerations.
• Constructively challenges current practices and continuously improves processes and documentation. Demonstrates and encourages pragmatism in pricing work.
• Effectively coaches junior team members and provides training to other team members.
• Highly effective communication skills, ensuring appropriate stakeholder management during the end-to-end quote process including effective communication with approvers.
• Ability to balance technical and commercial considerations in, giving confidence to key stakeholders of pricing capability. Develop internal relationships within and across teams.

Typical Requirements

• Qualified actuary with strong technical ability and pricing experience, familiar with the UK and / or Irish Protection markets.
• Experience with the pricing tools that PL Re adopts, such as Tyche, SQL, Tableau, R, and strong Excel skills
• Ability to work independently as well as collaborate with pricing teams across regions
• Ability to interpret and analyse data, apply judgement and make clearly communicated decisions.
• Strong problem-solving and prioritisation skills, able to balance judgement and detail whilst working to deadlines.

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