At a Glance
- Tasks: Implement new treaties and improve actuarial processes in a dynamic team.
- Company: Join Pacific Life Re, a global leader in life insurance and reinsurance.
- Benefits: Enjoy 25 days annual leave, private healthcare, and wellness initiatives.
- Other info: Embrace diversity and inclusion while building your career with us.
- Why this job: Be part of a transformative journey in a supportive and fun work environment.
- Qualifications: Qualified actuary with 3+ years in life insurance or reinsurance.
The predicted salary is between 55000 - 65000 £ per year.
The Team
The global Valuation team at Pacific Life Re is responsible for the actuarial valuation of our diverse lines of business and global markets. The team runs and validates our integrated Tyche models to deliver insights across PL Re. They 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, interacting with CA teams, 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 going through a significant transformation journey, driven by project Unify, towards more automated and efficient processes, making this an exciting time to join a new global team.
The Role
You will be responsible for the execution of a range of new treaty implementations and staying abreast of new business developments to ensure that our modelling approaches and processes keep pace with our growing business. Specifically, you will help drive our initiative to ‘clear the backlog’ of historical unimplemented treaties. You will also support with embedding changes delivered through the Unify program. This cross-functional role requires collaboration with a wide variety of stakeholders, including our Operations and Line of Business front-office teams across all lines of business and regions, as well as the wider CA function. In addition, you will help support a positive working culture and a high performing team.
Role Responsibilities
- Implementation of new treaties, including helping drive our initiative to ‘clear the backlog’ of historical unimplemented treaties
- Helping embed and improve the global control framework for implementations
- Acting as a point of contact with our Operations teams regarding the provision of valuation extracts
- Acting as a point of contact with our Pricing teams regarding the handover of information for new treaty implementations
- Helping to drive continuous improvement of implementation processes, including embedding related deliverables from the Unify program
- Specifying model requirements and testing new developments related to new treaty implementations
- Supporting with the implementation and continuous review of our cross-functional ‘Tiering’ framework
Skills & Experience
- Qualified actuary with minimum of 3 years’ experience in life insurance or life reinsurance
- Track record of challenging/improving processes and fostering a culture of continuous improvement
- Experience with actuarial modelling software (Tyche preferable) and proficient with Microsoft Excel
- Experience supporting with change and the introduction of new processes, controls and systems
- Solid understanding of the Corporate Actuarial function
- Experience/understanding across multiple regions, reporting bases and Lines of Business desirable but not essential
- Experience/understanding of Pricing and/or Operations processes desirable but not essential
Competencies and Behaviours:
- Ability to work on own initiative and proactively manage a varied and demanding workload, ensuring tasks are completed efficiently
- 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
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)
- 25 days of annual leave with option to buy/sell more days
- Adoption and fertility leave
- Generous enhanced parental leave
- 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
- 15% combined employee/employer contributions
- 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
Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months) employer: Pacific Asset Management, LLC
At Pacific Life Re, we pride ourselves on being an exceptional employer that values the unique contributions of each team member. Our supportive work culture fosters collaboration and continuous improvement, while our commitment to employee well-being is reflected in our generous benefits package and emphasis on work-life balance. With ample opportunities for professional growth and a focus on community involvement, joining our global Valuation team as a Treaty Implementation Actuary offers a meaningful and rewarding career path in a dynamic environment.
Contact Details:
Pacific Asset Management, LLC Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months)
✨Tip Number 1
Network like a pro! Reach out to current employees at Pacific Life Re on LinkedIn. Ask them about their experiences and any tips they might have for landing the Treaty Implementation Actuary role. Personal connections can give you an edge!
✨Tip Number 2
Prepare for the interview by brushing up on your knowledge of Tyche models and the actuarial valuation process. Be ready to discuss how you've improved processes in the past. Show us that you're not just a qualified actuary, but someone who can drive change!
✨Tip Number 3
Practice your communication skills! Since this role involves collaboration with various teams, being able to articulate your thoughts clearly is key. Try mock interviews with friends or use online platforms to refine your pitch.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows your enthusiasm for joining our team at Pacific Life Re!
We think you need these skills to ace Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months)
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experience mentioned in the job description. Highlight your actuarial experience, especially in life insurance or reinsurance, and any relevant software knowledge like Tyche.
Craft a Compelling Cover Letter:Use your cover letter to tell us why you're the perfect fit for the Treaty Implementation Actuary role. Share specific examples of how you've improved processes or supported change in previous roles.
Showcase Your Communication Skills:Since effective communication is key in this role, ensure your written application is clear and concise. Use professional language but let your personality shine through!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role without any hiccups.
How to prepare for a job interview at Pacific Asset Management, LLC
✨Know Your Actuarial Stuff
Make sure you brush up on your actuarial knowledge, especially around life insurance and reinsurance. Familiarise yourself with the Tyche models and be ready to discuss how you've used them in past roles.
✨Show Your Process Improvement Skills
Be prepared to share specific examples of how you've challenged and improved processes in previous positions. Highlight any experience you have with continuous improvement initiatives, as this will resonate well with the team’s goals.
✨Collaboration is Key
Since this role involves working with various teams, think of examples where you've successfully collaborated across functions. Emphasise your communication skills and how you've built relationships with stakeholders in the past.
✨Embrace Change and Adaptability
The team is undergoing a transformation journey, so it's important to demonstrate your adaptability. Share experiences where you've successfully navigated change and how you can contribute to the ongoing improvements within the team.
