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For Companies At a Glance
- Tasks: Join our R&D team to develop market-leading assumptions for longevity and protection.
- Company: Pacific Life Re values innovation and supports your growth in a dynamic environment.
- Benefits: Enjoy perks like a pension scheme, private medical insurance, and wellness benefits.
- Why this job: Be part of exciting projects that impact growth in new markets while having fun with your team.
- Qualifications: Nearly or newly qualified actuary with strong analytical and communication skills.
- Other info: We prioritise work-life balance and community involvement through charity events and volunteering.
The predicted salary is between 36000 - 60000 £ per year.
Role Overview
We are looking for a nearly or newly qualified actuary to join our R&D team in London working on basis development. This is an exciting time to join the team as we provide assumptions for the Company’s ambitious growth plans in new and existing markets. The team produces best estimate assumptions predominantly for Europe and North America Longevity and Protection markets.
You will be involved in a variety of projects to set best estimate assumptions. This will include all stages of assumption development from data collection, analysis, model fitting and approval and requires strong problem solving and innovation skills to set a market leading basis.
You will work closely with other teams including:
- R&D teams including the Medical Analytics, Strategic Analytics teams and R&D teams in other geographies across the Division
- S&R and Protection teams inside the Reinsurance Division to support Pricing and Product developments and to ensure that the assumptions developed meet their needs.
You will be working in a company that values your technical skills, the innovative ideas and solutions you bring into the work you do, and your ability to communicate those ideas effectively.
Duties
- Carry out assumption development work for longevity and protection lines of business
- Support new business activity for longevity and protection
- Expand knowledge of actuarial and statistical methods for best estimate assumption setting and data analysis and contribute to knowledge sharing internally, to ensure Pacific Life Re maintains a high level of technical knowledge in respect of mortality, morbidity and longevity risk.
Skills & Experience
- Nearly qualified or newly qualified Fellow of the Institute or Faculty of Actuaries or Society of Actuaries or other similar organisation
- An understanding of one or more of the markets we operate in (Longevity or Protection reinsurance)
- Familiarity with experience studies, trend modelling, and pricing within the life insurance industry (including reinsurers, insurers and consultancy)
- Interest in programming and comfortable with or willing to learn software packages, such as Tableau, SQL and R.
- Knowledge of actuarial techniques such as Generalized Linear Models and Survival Models
- Strong analytical abilities
- Strong communication, organisational and presentation skills
- Places a high value on innovation and continuous improvement
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.
R&D Actuary employer: Pacific Life Re
Contact Detail:
Pacific Life Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land R&D Actuary
✨Tip Number 1
Familiarise yourself with the latest trends in longevity and protection reinsurance. Understanding the current market dynamics will not only help you during interviews but also demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals in the actuarial field, especially those working in R&D or similar roles. Attend industry events or webinars to connect with potential colleagues and learn more about the company culture at Pacific Life Re.
✨Tip Number 3
Brush up on your programming skills, particularly in software packages like SQL and R. Being comfortable with these tools will set you apart from other candidates and show your readiness to contribute to the team.
✨Tip Number 4
Prepare to discuss your problem-solving and innovation skills in detail. Think of specific examples from your past experiences where you've successfully tackled challenges, as this aligns with the company's emphasis on innovation.
We think you need these skills to ace R&D Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your qualifications as a nearly or newly qualified actuary. Emphasise relevant experience in longevity and protection markets, and showcase your analytical skills and familiarity with actuarial techniques.
Craft a Compelling Cover Letter: Write a cover letter that reflects your enthusiasm for the R&D Actuary role. Discuss your understanding of the company's goals and how your skills in data analysis and problem-solving can contribute to their ambitious growth plans.
Highlight Technical Skills: In your application, be sure to mention your proficiency or willingness to learn software packages like Tableau, SQL, and R. This will demonstrate your readiness to engage with the technical aspects of the role.
Showcase Communication Abilities: Since strong communication skills are valued, include examples of how you've effectively communicated complex ideas in previous roles. This could be through presentations, reports, or teamwork experiences.
How to prepare for a job interview at Pacific Life Re
✨Showcase Your Technical Skills
As a nearly or newly qualified actuary, it's crucial to highlight your technical skills during the interview. Be prepared to discuss your experience with actuarial techniques, data analysis, and any relevant software packages like SQL or R. This will demonstrate your capability to contribute effectively to the R&D team.
✨Demonstrate Problem-Solving Abilities
The role requires strong problem-solving skills, so be ready to share examples of how you've tackled complex issues in the past. Discuss specific projects where you had to innovate or develop assumptions, as this will show your potential to set market-leading bases.
✨Understand the Market
Familiarise yourself with the Longevity and Protection markets before the interview. Being able to discuss current trends, challenges, and opportunities in these areas will impress the interviewers and show that you're genuinely interested in the role and the company.
✨Communicate Effectively
Strong communication skills are essential for this position. Practice articulating your ideas clearly and concisely, especially when discussing technical concepts. This will help you convey your innovative ideas and solutions effectively during the interview.
