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- Tasks: Lead actuarial analysis and insights for Savings & Retirement, ensuring operational readiness and stakeholder communication.
- Company: Join Pacific Life Re, a global leader in innovative reinsurance solutions for the insurance industry.
- Benefits: Enjoy 25 days annual leave, comprehensive healthcare, wellness initiatives, and a supportive work-life balance.
- Why this job: Make a real impact in a dynamic marketplace while developing your skills in a collaborative environment.
- Qualifications: Qualified actuary with team management experience and strong analytical skills required.
- Other info: Embrace a culture that values diversity, community involvement, and personal growth.
The predicted salary is between 43200 - 72000 £ per year.
Job Title
AVP, Actuarial Analysis & Insights, Savings and Retirement
Job Description
The Team
The Actuarial Analytics & Insights, S&R team forms part of the Corporate Actuarial (CA) function within Divisional Business Services (DBS) and is responsible for the Savings and Retirement (S&R) business. The S&R Line of Business delivers Funded and Non-funded reinsurance solutions to global insurance clients, catering for the increasing demand from clients in various jurisdictions for innovative reinsurance support that can transfer both longevity and asset risk.
The team are responsible for performing analysis and communicating insights in relation to both the in-force book and new business across US GAAP, US Statutory (US STAT), Internal Economic Capital (EC) and Bermuda Monetary Authority (BMA) reporting bases. The team’s focus is on developing a deep understanding of both the asset and liability side of the balance sheets, delivering value-add outcomes that support S&R and wider PL Re’s strategic priorities.
The team will interact closely with S&R and will be a key part of DBS and PL Re, interacting with CA (including the Valuation team and Actuarial Systems Team), Operations, Finance, R&D, and Pricing.
The Role
We have an exciting opportunity for an individual with a strong actuarial background and relevant experience to join the Corporate Actuarial function as an AVP, focusing on Savings & Retirement (S&R) business.
Reporting to the VP, Actuarial Analytics & Insights, S&R, this role offers a challenging variety of work, exposure to senior management and excellent opportunities to make positive contributions to S&R and CA. The role requires a good understanding of S&R products, particularly in respect of reporting and balance sheet impacts, as the successful individual will play a key role in offering insights on the quarterly results to senior management. There will also be a reliance on this role to ensure operational readiness ahead of new business onboarding. In addition to strong technical understanding, the role requires strong management skills, with the successful applicant being responsible for managing a team to ensure high quality and timely delivery, whilst actively developing team members to achieve their potential.
As part of this role, you will work with other functions within DBS and work with other Corporate Actuarial teams across Pacific Life. Similarly, you will work closely with the S&R Line of Business team, contributing to PL Re’s success in what is a growing and dynamic marketplace. Strong communication skills, ability to understand new concepts and strong problem-solving skills are therefore required to ensure reporting challenges and opportunities relating to both the inforce book and new initiatives are well understood by relevant stakeholders.
Responsibilities
Quarterly Reporting
- Lead the team during the quarterly reporting process including communicating insights to senior management, across US GAAP, US STAT, EC and BMA bases
- Work with Valuation and other teams across DBS to ensure accuracy in the attribution and explanation of results
Operational Readiness
- Work with S&R and other stakeholders across DBS to ensure operational readiness ahead of writing new business, effectively communicating progress to senior management
- Ensure S&R initiatives and new business are appropriately modelled within the quarterly results by providing requirements to Actuarial Systems and Valuation teams.
Stakeholder management
- Manage effective networks and demonstrate excellent communication.
- Build relationships with stakeholders in S&R and wider DBS, keeping VP, Actuarial Analytics & Insights, S&R aware of relevant updates.
Other
- Support non-BAU activities and other corporate actuarial projects, as required.
- Provide effective line management to reports within the team including providing regular feedback and performance reviews.
- Develop skills and knowledge of team members.
Qualifications & Experience
Essential
- Qualified actuary with demonstrable experience of managing a team
- Experience of working within an actuarial reporting function
- Strong understanding of actuarial valuation principles and processes, knowledge and experience of actuarial control cycle is a plus
- Strong understanding of S&R product types and the risks underlying each
- Strong analytical, problem solving and technical skills
- Excellent written and verbal communication skills, proven ability to manage relationships with stakeholders of varying seniority in actuarial and non-actuarial teams
- Ability to work on own initiative and pro-actively manage a varied and demanding workload
- Detail-oriented with the ability to work to timelines
- Proven ability to work with other functions, developing and maintaining working relationships with all parties
- Ability to understand and apply new concepts quickly. Shows initiative, flexibility, and resourcefulness
- Embraces change and can work in a fluid environment
Desirable Experience
- Demonstrable knowledge of US GAAP and/or BMA regulations
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
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25 days of annual leave with option to buy/sell more days
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Adoption and fertility leave
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Generous enhanced parental leave
Healthcare
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Comprehensive private insurance coverage for employee and dependents
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Group Life Insurance coverage of 9x basic annual salary and Group Income Protection up to 75% of basic annual salary
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Optical benefits
Savings & Retirement
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15% combined employee/employer contributions
Wellness
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Subsidized gym membership
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Access to Employee Assistance Program
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Cycle to Work and Electric Car Salary Sacrifice Scheme
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Time off for volunteering
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Charitable matching of employee donations
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
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AVP, Actuarial Analysis & Insights, Savings and Retirement employer: Pacific Life Re
Contact Detail:
Pacific Life Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land AVP, Actuarial Analysis & Insights, Savings and Retirement
✨Tip Number 1
Familiarise yourself with the specific actuarial reporting standards mentioned in the job description, such as US GAAP and BMA regulations. This knowledge will not only help you understand the role better but also demonstrate your commitment and readiness to engage with the complexities of the position.
✨Tip Number 2
Network with professionals in the Savings and Retirement sector, especially those who have experience in actuarial analytics. Engaging in conversations with industry peers can provide valuable insights and may even lead to referrals that could strengthen your application.
✨Tip Number 3
Prepare to discuss your management style and experiences in leading teams during the interview. Highlighting your ability to develop team members and ensure high-quality delivery will resonate well with the expectations outlined in the job description.
✨Tip Number 4
Showcase your problem-solving skills by preparing examples of how you've tackled complex actuarial challenges in the past. Being able to articulate your thought process and the outcomes of your actions will demonstrate your analytical capabilities to the hiring team.
We think you need these skills to ace AVP, Actuarial Analysis & Insights, Savings and Retirement
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your actuarial experience and management skills. Focus on relevant roles that demonstrate your understanding of Savings & Retirement products and your ability to lead a team.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background aligns with the responsibilities outlined in the job description, particularly your experience with quarterly reporting and stakeholder management.
Showcase Your Communication Skills: Since strong communication is key for this role, provide examples in your application of how you've effectively communicated complex actuarial concepts to various stakeholders. This could be through presentations, reports, or team collaborations.
Highlight Problem-Solving Abilities: Demonstrate your analytical and problem-solving skills by including specific examples of challenges you've faced in previous roles and how you successfully navigated them. This will show your capability to handle the demands of the position.
How to prepare for a job interview at Pacific Life Re
✨Understand the Actuarial Landscape
Make sure you have a solid grasp of actuarial principles, especially those related to Savings and Retirement products. Familiarise yourself with US GAAP, US STAT, and BMA regulations, as these will be crucial in your discussions.
✨Showcase Your Leadership Skills
As this role involves managing a team, be prepared to discuss your management style and experiences. Highlight examples where you've successfully led a team, developed talent, and ensured high-quality deliverables.
✨Communicate Effectively
Strong communication skills are essential for this position. Practice articulating complex actuarial concepts in a clear and concise manner, as you'll need to convey insights to senior management and various stakeholders.
✨Demonstrate Problem-Solving Abilities
Prepare to discuss specific challenges you've faced in previous roles and how you approached solving them. This will showcase your analytical skills and ability to think critically under pressure.
