At a Glance
- Tasks: Lead pricing and structuring of bespoke asset-intensive reinsurance solutions.
- Company: Join Pacific Life Re, a leader in innovative reinsurance solutions.
- Benefits: Enjoy 25 days leave, comprehensive healthcare, and wellness initiatives.
- Other info: Dynamic team culture with a focus on work-life balance and community involvement.
- Why this job: Make a real impact in the retirement market with your expertise.
- Qualifications: 5+ years in ALM or pricing with strong asset and market risk knowledge.
The predicted salary is between 36000 - 60000 £ per year.
The Savings & Retirement (S&R) team at Pacific Life Re is responsible for sourcing opportunities and executing reinsurance transactions with clients in our target global retirement markets. We deliver bespoke reinsurance solutions to our clients to support policyholders\' retirement needs and financial goals. The Deal Pricing team within S&R is responsible for pricing all products and reinsurance structures across our global markets. We focus on modelling cashflows, capital, and deal metrics, and with an emphasis on asset pricing for funded reinsurance transactions.
You will be responsible for setting bespoke investment strategies and structuring solutions for funded reinsurance transactions, working closely with the Client Solutions and Pricing & Portfolio Solutions (PPS) teams. In collaboration with the Client Solutions team, we focus on optimizing deal structures to provide clients with a strong commercial package while ensuring efficient capital structures for PL Re.
Responsibilities
- Pricing & Structuring: Lead the pricing and execution of bespoke asset-intensive quotes across S&R markets, including performing detailed analysis and developing materials for internal approvals.
- Investment Strategy: Work with a broad range of asset classes including liquid and illiquid fixed income, structured products, and derivatives. Design strategies to manage and mitigate market risks (interest rate, currency, inflation, etc).
- Capital Optimization: Understand the drivers of capital requirements for S&R products and how these vary under different reinsurance structures. This includes across economic capital, Bermuda Monetary Authority and NAIC RBC regimes.
- Stakeholder Engagement: Collaborate with Client Solutions, PPS, and investment management teams to optimise deal structures and assets strategies aligned with internal risk appetites and investment philosophy.
- Collaborate with the S&R Insurance Pricing team to develop assumptions and understand insurance benefit structures and investment and capital dependencies.
- Process Improvement: Identify and implement improvements in pricing processes and controls.
- Leadership: Mentor and develop deal teams, supporting technical and professional growth.
Qualifications
We have an opportunity for an experienced actuarial or investment focused professional with a strong background in asset-intensive reinsurance business. The ideal candidate will have deep knowledge and experience in structuring deals and developing and modelling investment solutions to back insurance liabilities.
- Professional qualifications (SOA, IFoA or similar) with 5+ years of relevant experience in ALM or pricing (direct or reinsurance) with emphasis on assets and market risks.
- Deal structuring experience in bespoke funded reinsurance solutions, collateral structures, investment and derivative strategies.
- Knowledge of Bermuda capital, US RBC capital, and economic capital is a strong advantage.
- Deep understanding of market risks (interest rates, FX, credit spread, liquidity) and their impacts to insurance capitalization. Understanding of insurance company balance sheets including insurance capital frameworks.
- Ability to critically analyse model outputs, identify key drivers, and propose pricing improvements.
- Ability to communicate complex actuarial concepts to a range of audiences both verbally and written. Track record of stakeholder management & seeking approvals/pitching.
- Highly motivated and delivery focused. Comfortable operating under tight timelines and high-pressure environments to meet pricing commitments to internal stakeholders and clients.
- Adaptability to changing priorities and business needs.
Benefits
Leave
- 25 days of annual leave with option to buy/sell more days
- Adoption and fertility leave
- Generous enhanced parental leave
Healthcare
- 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
Savings & Retirement
- 15% combined employee/employer contributions
Wellness
- 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
Pricing Manager, Asset Intensive Reinsurance in City of London employer: Pacific Life Re
Pacific Life Re is an exceptional employer that prioritises the well-being and professional growth of its employees. With a strong emphasis on teamwork, a healthy work-life balance, and a comprehensive benefits package including generous leave options and wellness initiatives, employees are supported in both their personal and professional lives. The collaborative culture fosters innovation and allows for meaningful contributions to bespoke reinsurance solutions in a dynamic global market.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Manager, Asset Intensive Reinsurance in City of London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Pacific Life Re. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Pricing Manager, Asset Intensive Reinsurance in City of London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Pacific Life Re.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Pacific Life Re's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Pacific Life Re
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Pacific Life Re.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Pacific Life Re will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Pacific Life Re employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
