AVP Actuarial, Individual Retirement Income

Job Title

AVP Actuarial, Individual Retirement Income

Job Description

We are looking to hire a talented AVP, Individual Retirement Income, Savings & Retirement who will take a leading role in our strategic new entry into the Individual Retirement Income market. This role will be based in London to focus on the strategic entry to the UK retirement income market and will include a wider remit to support the entry into the other global core markets.

The successful candidate will be accountable for the proposition development, sales, client relationships, structuring and execution of transactions in the UK individual retirement income market. This will include supporting the development of funded annuity flow propositions that will be scalable to wider global core markets.

In performing your role, you will be supporting the VP, Individual and Flow, Savings and Retirements in delivering a strategy and business plan for the UK market entry. The strategic importance of the individual market will provide significant visibility with the S&R Executive Committee and with wider senior global stakeholders.

As a member of the wider Savings and Retirement community, the incumbent is expected to help promote a culture across Savings & Retirements consistent with the Pacific Life Re target culture and consistent with the company’s Principles and Behaviours.

Within Savings and Retirement we have a vision to be Partnering with our clients globally to provide stability and confidence in retirement .

Key Responsibilities

• Be responsible for developing, communicating, and executing our new business and client strategy for entry into the UK retirement income markets. Initial focus will be on the UK market with a wider remit to support on other global core markets, particularly Netherlands.
• Build and own relationships at a senior level with our clients, consultants, advisers and other key parties within the UK individual retirement market as part of building an entry and growth within this market. Engage with the wider S&R business to ensure a consistent client relationship strategy where appropriate.
• Develop, manage and secure new business opportunities, including working closely with the Global S&R Insurance and Deal Pricing Teams to deliver timely, high-quality responses to client invitations to tender, meeting internal risk management standards.
• Lead the UK proposition development of individual retirement income including supporting the underwriting engine and flow technology developments.
• Assist in the development of the funded reinsurance proposition for global core individual retirement markets, combining Pacific Life group asset skills with local regulation and client requirements.
• Lead transaction negotiations, working alongside our internal and external legal counsel.

Qualifications & Expertise

• At least 5 years’ experience in operating in (re)insurance including time in market-facing and technical roles – experience in the UK individual retirement market is strongly preferred.
• Experience in and understanding of retirement markets including Longevity, Funded Re and individual annuities.
• Experience of new business development and transaction negotiation.
• Deep understanding of the technical basis of insurance/reinsurance business, with a proven ability to understand and question pricing and/or capital bases.
• Knowledge of the local regulatory environment is preferred.
• Excellent written and verbal communication skills with people of all levels.
• Strong negotiator and influencer.
• Strong organisational skills and good evidence of successful project management.
• In-depth understanding of risk frameworks and controls.
• Highly financially literate and can understand reinsurance pricing, financial reporting and capital to a high level of detail.

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 employees’ involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.

Benefits (Only for Permanent and Fixed Term Employees)

• Stakeholder Pension Scheme
• Life Assurance
• Subsidised Gym Membership
• Private Medical Insurance
• Season Ticket Loan
• Eye Care
• Employee Assistance Programme
• Group Income Protection
• Wellness Benefits

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 Principles and Behaviours

Please click here to view our company principles and behaviours

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