At a Glance
- Tasks: Implement new treaties and improve processes in a dynamic actuarial team.
- Company: Join Pacific Life Re, a global leader in life reinsurance with a supportive culture.
- Benefits: Enjoy 25 days annual leave, healthcare, wellness initiatives, and a healthy work-life balance.
- Other info: Collaborative environment with opportunities for personal growth and community involvement.
- Why this job: Be part of a transformative journey in actuarial valuation and make a real impact.
- Qualifications: Qualified actuary with 3+ years in life insurance and strong process improvement skills.
The predicted salary is between 50000 - 70000 € 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.
Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months) in London employer: Pacific Life
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. Joining our global Valuation team as a Treaty Implementation Actuary offers you the opportunity to engage in meaningful projects during an exciting transformation journey, all within a diverse and inclusive environment that champions personal and professional growth.
StudySmarter Expert Advice🤫
We think this is how you could land Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months) in London
✨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 make a huge difference!
✨Tip Number 2
Prepare for the interview by brushing up on your knowledge of Tyche models and the actuarial processes mentioned in the job description. Show us you’re not just a qualified actuary, but someone who’s genuinely excited about the transformation journey at PL Re.
✨Tip Number 3
Don’t forget to highlight your experience with continuous improvement and process optimisation during interviews. We love candidates who can challenge the status quo and bring fresh ideas to the table!
✨Tip Number 4
Finally, apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re serious about joining our team at Pacific Life Re.
We think you need these skills to ace Treaty Implementation Actuary, Corporate Actuarial, Valuation – FTC (18 months) in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Treaty Implementation Actuary role. Highlight relevant experience, especially in life insurance or reinsurance, and showcase your skills in actuarial modelling software like Tyche.
Craft a Compelling Cover Letter:Your cover letter should tell us why you're the perfect fit for this role. Share specific examples of how you've improved processes or supported change in previous roles, and don’t forget to mention your passion for continuous improvement!
Showcase Your Communication Skills:Since this role involves collaboration with various teams, make sure to demonstrate your effective communication skills in your application. Use clear and concise language, and provide examples of how you've successfully worked with others in the past.
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Pacific Life
✨Know Your Models
Make sure you’re familiar with the Tyche models and how they apply to treaty implementations. Brush up on your actuarial modelling software skills, as this will be crucial in demonstrating your technical expertise during the interview.
✨Showcase Your Process Improvement Skills
Prepare examples of how you've previously challenged and improved processes. Highlight any experience you have with continuous improvement initiatives, especially in relation to implementing new systems or controls, as this aligns perfectly with the role's responsibilities.
✨Understand Cross-Functional Collaboration
Since this role involves working with various teams, think about times when you’ve successfully collaborated across functions. Be ready to discuss how you can foster positive relationships with Operations, Pricing, and other stakeholders to drive successful treaty implementations.
✨Embrace Change and Adaptability
The team is undergoing a transformation journey, so it’s important to convey your adaptability. Share experiences where you’ve thrived in changing environments and how you’ve contributed to embedding new processes, especially those related to the Unify program.
