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- Tasks: Join our team to develop and enhance liquidity risk management strategies.
- Company: Pacific Life Re values unique qualities and supports individual ambitions in a dynamic environment.
- Benefits: Enjoy perks like a pension scheme, private medical insurance, and wellness benefits.
- Why this job: Be part of a collaborative culture that balances hard work with fun and community involvement.
- Qualifications: 10+ years in liquidity risk within life insurance or reinsurance; strong analytical skills required.
- Other info: We prioritise diversity and inclusion, offering adjustments for applicants with disabilities.
The predicted salary is between 43200 - 72000 £ per year.
Job Title
AVP, Liquidity Risk
Job Description
Role description
The AVP, Liquidity Risk will play a key part in Pacific Life’s growth and long-term success by supporting the development of the enterprise liquidity risk management capabilities. We’re seeking a talented AVP, Liquidity Risk to join our Enterprise Risk team to evolve and enhance our liquidity risk management
The role is varied and dynamic, with work contributing to key strategic and operational initiatives. The role focuses on:
- Development of the liquidity risk framework including embedding Bermuda entities and refinement of scenarios
- Design and implement risk appetites for liquidity levers
- Input into the annual Commercial Insurer’s Solvency Self-Assessment (“CISSA”) process incorporating analysis of liquidity stress testing
- Support the production of certain liquidity stress tests and regular monitoring against limits
The successful candidate should have a strong background in liquidity risk acquired within a life insurance or reinsurance company. You should also have excellent analytical and problem-solving skills, as well as the ability to work collaboratively with others.
This role will involve working with senior stakeholders across the Enterprise, across all legal entities and Divisions as part of the Enterprise Risk team based in Newport Beach.
Core Duties
Risk framework
- Develop our liquidity risk framework including embedding Bermuda entities and assessment of refinement opportunities
- Design and implement risk appetites for liquidity levers
- Support liquidity assessments of investing in private / less liquid assets.
- Investigate liquidity costings in new business pricing to propose appropriate allowances
Stress and scenario analysis
- Develop appropriate liquidity stress and scenario analysis to derive meaningful insights on internal liquidity needs
- Review and challenge liquidity stress testing results at both Division and aggregate legal entity levels
Bermuda entities
- Lead the development of the Bermuda Contingent Liquidity Plan
- Design and run tabletop exercises to test the Bermuda Contingent Liquidity Plan
- Support the production of certain liquidity stress tests and regular monitoring against limits
- Develop Bermuda Risk MI to recommend and refine liquidity metrics
Qualifications & Experience
Essential
- A relevant professional qualification with at least 10 years’ business experience
- Life insurance or reinsurance industry experience
- Ability and confidence to provide robust challenge to colleagues, including senior management, and a willingness to challenge the status quo
- Ability to communicate complex concepts and information to a variety of stakeholders (management, regulators, board, staff) both orally and in writing
Desirable
- Familiarity with capital bases and financial reporting standards
- Understanding of risk management frameworks
- Knowledge and awareness of global reinsurance 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)
• 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 Values
Please click here to view our company values
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AVP, Liquidity Risk employer: Pacific Life Re
Contact Detail:
Pacific Life Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land AVP, Liquidity Risk
✨Tip Number 1
Familiarise yourself with the specific liquidity risk frameworks used in the life insurance and reinsurance sectors. Understanding these frameworks will help you speak confidently about your experience and how it aligns with the role.
✨Tip Number 2
Network with professionals in the industry, especially those who work in liquidity risk management. Engaging with them can provide insights into the current challenges and trends, which you can reference during discussions.
✨Tip Number 3
Prepare to discuss your analytical and problem-solving skills in detail. Think of specific examples where you've successfully navigated complex liquidity issues, as this will demonstrate your capability to handle the demands of the role.
✨Tip Number 4
Research Pacific Life's values and culture thoroughly. Being able to articulate how your personal values align with theirs will show that you're not just a fit for the role, but also for the company as a whole.
We think you need these skills to ace AVP, Liquidity Risk
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in liquidity risk, particularly within the life insurance or reinsurance sectors. Use specific examples that demonstrate your analytical and problem-solving skills.
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, especially your experience with risk frameworks and stress testing.
Highlight Key Qualifications: Clearly outline your professional qualifications and years of experience in your application. Emphasise your ability to communicate complex concepts effectively to various stakeholders, as this is crucial for the role.
Showcase Collaborative Skills: Since the role involves working with senior stakeholders, include examples in your application that demonstrate your ability to collaborate and challenge the status quo in a constructive manner.
How to prepare for a job interview at Pacific Life Re
✨Understand the Liquidity Risk Framework
Make sure you have a solid grasp of liquidity risk management principles, especially as they relate to life insurance and reinsurance. Be prepared to discuss how you would develop and refine a liquidity risk framework, including your thoughts on embedding Bermuda entities.
✨Showcase Analytical Skills
Highlight your analytical and problem-solving skills during the interview. Prepare examples of how you've successfully conducted liquidity stress tests or scenario analyses in the past, and be ready to explain the insights derived from those experiences.
✨Communicate Effectively with Stakeholders
Since this role involves working with senior stakeholders, practice articulating complex concepts clearly and concisely. Think about how you can convey your ideas to different audiences, including management and regulators, both verbally and in writing.
✨Demonstrate Collaborative Spirit
Emphasise your ability to work collaboratively within teams. Share examples of how you've successfully challenged the status quo and provided constructive feedback to colleagues, particularly in high-pressure situations.
