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- Tasks: Lead the development of liquidity risk frameworks and conduct stress testing.
- Company: Join Pacific Life, a global leader in life insurance and reinsurance.
- Benefits: Enjoy 25 days annual leave, private healthcare, and wellness initiatives.
- Why this job: Be part of a dynamic team that values collaboration and personal growth.
- Qualifications: 10+ years in liquidity risk within life insurance or reinsurance required.
- Other info: Flexible work-life balance with regular team-building activities.
The predicted salary is between 72000 - 108000 £ per year.
Job Title
Director, Liquidity Risk
Job Description
Role description
The Director, 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 Director, 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)
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
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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Director, Liquidity Risk | London, UK employer: Pacific Life
Contact Detail:
Pacific Life Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Director, Liquidity Risk | London, UK
✨Tip Number 1
Network with professionals in the life insurance and reinsurance sectors. Attend industry conferences or webinars where you can meet key players in liquidity risk management. Building these connections can provide insights into the role and potentially lead to referrals.
✨Tip Number 2
Stay updated on the latest trends and regulations in liquidity risk management. Subscribe to relevant journals or follow thought leaders on social media. This knowledge will not only help you in interviews but also demonstrate your commitment to the field.
✨Tip Number 3
Prepare to discuss specific scenarios where you've successfully managed liquidity risks in previous roles. Use the STAR method (Situation, Task, Action, Result) to structure your responses, showcasing your analytical and problem-solving skills.
✨Tip Number 4
Familiarise yourself with Pacific Life's values and culture. Tailor your conversations during networking or interviews to reflect how your personal values align with theirs. This connection can make a significant difference in how you're perceived as a candidate.
We think you need these skills to ace Director, Liquidity Risk | London, UK
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in liquidity risk management, 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 stakeholder communication.
Highlight Relevant Qualifications: Clearly state your professional qualifications and any certifications related to risk management. Emphasise your 10+ years of experience in the industry and your ability to challenge the status quo effectively.
Prepare for Potential Questions: Anticipate questions related to your experience with liquidity stress testing and scenario analysis. Be ready to discuss how you would approach developing a liquidity risk framework and your strategies for communicating complex concepts to various stakeholders.
How to prepare for a job interview at Pacific Life
✨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 Your Analytical Skills
Highlight your analytical and problem-solving abilities 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 would present your findings to different audiences, such as management or regulators, and be ready to demonstrate your communication skills.
✨Prepare for Challenging Conversations
The ability to challenge the status quo is crucial for this position. Reflect on past experiences where you had to provide constructive feedback or challenge decisions. Be prepared to discuss how you approach these conversations and ensure you convey confidence in your expertise.
