AVP, Corporate Actuarial, Valuation (Earnings)

The Team

The newly formed global Valuation team at Pacific Life Re is responsible for the actuarial valuation of our diverse lines of business and global markets. The team will run and validate our integrated Tyche models to deliver insights across PL Re. They will support our long-term growth by implementing new business, continuously improving processes and specifying and testing future model changes, working closely with our Actuarial Systems Team who develop and maintain the models. The team will be a key part of PL Re’s Divisional Business Services global back-office team, interacting with the wider CA function, Operations, Finance, R&D, and Pricing. Our actuarial models are vital to the way we run our business, and the Valuation team will provide crucial insights across Financial Reporting, Business Planning and other processes. The team is at the start of an exciting transformation journey, driven by project Unify, a large-scale transformation programme, towards more automated and efficient processes, making this an exciting time to join a new global team.

The Role

You will be responsible for producing and validating actuarial model outputs across all statutory accounting bases (US GAAP LDTI, IFRS17, IFRS4). You will work closely with the AVP, Capital to ensure modelling processes are coordinated and carried out effectively for both Financial Reporting and Business Planning processes. The role offers exposure to a wide variety of work, covering all lines of business, regions and legal entities. You will also have an exciting opportunity to oversee a period of genuine transformation as the benefits from the Unify transformation programme are delivered into the team. You will act as an advocate for change and foster a culture of continuous improvement around modelling processes. Collaboration with other teams will be crucial, as you will be responsible for delivering modelling insights to a wide range of stakeholders across CA teams, acting as a dedicated point of contact for other CA teams and Finance teams. You will develop expertise and capabilities within the team to ensure that we can respond to the increasingly complex needs of a growing global reinsurer, such as conducting sensitivities and scenarios or responding to Inforce Management modelling requests. The role involves managing and leading a large, global sub-team, and so you will have the opportunity to gain substantial experience in global team management. You will coordinate efforts across various time zones, ensure effective communication within the sub-team and with others. In addition, you will help develop a positive working culture and a high performing team.

Role Responsibilities

• People management of the global Valuation (Earnings) sub-team
• The production of actuarial model outputs across all statutory accounting bases (US GAAP LDTI, IFRS17, IFRS4) for Financial Reporting and Business Plan, across multiple legal entities
• Overseeing ad-hoc modelling requests from other CA teams, such as modelling potential new deal structures or carrying out stress / scenario modelling runs.
• Performing controls and validations to ensure the completeness and accuracy of modelled results
• Developing and maintaining a close working relationship with other CA teams, facilitating model run requests, technical queries and model developments
• Ownership of model inputs, outputs and other processes related to statutory accounting bases, e.g. demographic assumptions, IBNR factors
• Continuous improvement of modelling processes, including oversight of related deliverables from the Unify programme
• Specifying model requirements and testing new developments
• Assisting with model updates and runs on other bases as required

Skills & Experience

• Qualified actuary with minimum of 5 years’ post-qualified experience in life insurance or life reinsurance
• Team management / coaching experience and ability to manage across multiple locations and time zones
• Track record of challenging / improving processes and fostering a culture of continuous improvement
• Experience with actuarial modelling software and proficient with Microsoft Excel
• Experience overseeing change and the introduction of new processes, controls and systems
• In-depth understanding of the Corporate Actuarial function
• Good knowledge of IFRS17 and/or US GAAP LDTI, including first-hand experience of associated modelling complexities

Competencies and Behaviours:

• Ability to work on own initiative and proactively manage a varied and demanding workload
• Demonstrates strong leadership and people management skills
• Effective communication skills, both verbal and written
• Proven focus on quality, ensuring deliverables are accurate and fit for purpose
• Proven ability to work with other functions, developing and maintaining working relationships
• Ability to understand and apply new concepts quickly, showing initiative, flexibility, and resourcefulness
• Adaptability to change and evolving environments
• Pragmatic, able to balance accuracy with effort
• Willingness to challenge the status quo

The culture of our business is important to us. At Pacific Life Re you will be expected to model our company values and behaviours on a day-to-day basis.

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)

• 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.