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- Tasks: Join our team to analyse pricing for savings and retirement products across global markets.
- Company: Pacific Life Re is a diverse company focused on individual growth and community involvement.
- Benefits: Enjoy perks like pension schemes, gym memberships, and a supportive work environment.
- Why this job: This role offers a chance to impact financial products while working in a dynamic team.
- Qualifications: Strong actuarial skills and proficiency in Excel are essential; experience in pricing is a plus.
- Other info: We promote diversity and provide support for applicants with disabilities.
The predicted salary is between 43200 - 72000 £ per year.
The Savings & Retirement Deal Pricing team is responsible for producing fees & premiums for clients across global markets. The team handles a range of products including bulk annuities in Europe & North America, individual retirement products, and savings & protection benefits. Transactions involve various structures such as funded deals, longevity swaps, and new business flow deals.
Key Responsibilities:
- Focus on cashflow & capital modelling to ensure products & risks are accurately captured in pricing, producing deal metrics that meet pricing hurdles & governance standards.
- Collaborate with the client solutions team to optimize deal structures, providing strong commercial packages while maintaining efficient capital structures for PL Re.
- For funded deals, work closely with the S&R ALM team & Pacific Life Investments team to set investment strategies aligning with liabilities & client needs.
- Handle pricing activities related to treaty execution and ensure smooth handover to the inforce management team for implementation.
The Role
We seek a candidate with a strong technical actuarial/investment background to join the S&R Deal pricing team. Responsibilities include:
- Managing existing pricing tools (Tyche models and Excel models), producing quotes, and upgrading tools as needed.
- Identifying and implementing process improvements to enhance efficiency and controls.
- Understanding macroeconomic assumptions (interest rates, credit spreads, FX) and interpreting investment data from Bloomberg and investment teams.
- Analyzing capital requirements for S&R products under various reinsurance structures and regimes.
- Working with the insurance pricing team to understand benefit structures and develop insurance bases for transactions.
- Monitoring market conditions and translating changes into pricing adjustments, collaborating with asset management for assumptions.
- Developing strategies to manage risks such as currency and inflation in partnership with the client solutions team.
Qualifications & Experience
Core skills and experience:
- Strong skills in building and running actuarial models, including pricing tools.
- Experience in pricing is advantageous but not essential.
- Student member of the IFoA or SOA, progressing well through professional exams.
- Ability to critically review model outputs and understand drivers of changes.
- Ability to work independently and in a dynamic team environment under high-pressure deadlines.
- Experience with transactions and/or pricing work is beneficial.
- Proficiency in Excel and actuarial software (Tyche or similar).
- Understanding of market risks and their impact on insurance capitalization.
- Strong communication skills to convey complex concepts clearly.
Additional useful skills:
- Knowledge of Pension Risk Transfer markets.
- Understanding of insurance balance sheets and capital regimes (IFRS, Solvency II, US GAAP, BMA).
- Programming skills including VBA & Tyche.
We value our diverse team, support individual growth, and foster a balanced work environment with social activities, well-being initiatives, and community involvement. Our benefits include pension schemes, insurance, gym memberships, and more. We are committed to diversity and inclusion, providing reasonable adjustments during recruitment for applicants with disabilities. Please contact us to discuss your needs.
Contact Detail:
Pacific Life Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Pricing Analyst, Savings and Retirement | London, UK
✨Tip Number 1
Familiarise yourself with the specific pricing tools mentioned in the job description, such as Tyche models and Excel. Being able to demonstrate your proficiency in these tools during the interview will set you apart from other candidates.
✨Tip Number 2
Stay updated on current market conditions and macroeconomic factors that influence pricing strategies. Showing your awareness of how interest rates, credit spreads, and FX impact the industry can impress the hiring team.
✨Tip Number 3
Network with professionals in the Savings & Retirement sector, especially those involved in pricing and actuarial roles. Engaging with industry experts can provide insights and potentially lead to referrals for the position.
✨Tip Number 4
Prepare to discuss your experience with process improvements and efficiency enhancements in previous roles. Highlighting specific examples of how you've optimised workflows will demonstrate your proactive approach and problem-solving skills.
We think you need these skills to ace Senior Pricing Analyst, Savings and Retirement | London, UK
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Senior Pricing Analyst role. Emphasise your actuarial modelling skills, experience with pricing tools, and any relevant qualifications.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the Savings & Retirement sector. Mention specific experiences that demonstrate your ability to manage pricing tools and collaborate with teams effectively.
Highlight Technical Skills: Clearly outline your proficiency in Excel and any actuarial software you have used, such as Tyche. If you have programming skills like VBA, make sure to include those as well, as they are valuable for this position.
Showcase Problem-Solving Abilities: Provide examples in your application that illustrate your ability to identify process improvements and manage risks. This will demonstrate your analytical skills and your capacity to work under pressure.
How to prepare for a job interview at Pacific Life
✨Showcase Your Technical Skills
As a Senior Pricing Analyst, you'll need a strong technical actuarial background. Be prepared to discuss your experience with building and running actuarial models, particularly any pricing tools you've managed. Highlight specific examples where your skills made a difference in previous roles.
✨Understand the Market Landscape
Familiarise yourself with the Pension Risk Transfer markets and current macroeconomic conditions. During the interview, demonstrate your understanding of how interest rates, credit spreads, and FX impact pricing strategies. This will show that you can think critically about market risks.
✨Communicate Complex Concepts Clearly
Strong communication skills are essential for this role. Practice explaining complex actuarial concepts in simple terms, as you may need to convey these ideas to non-technical stakeholders. Use examples from your past experiences to illustrate your points.
✨Demonstrate Your Problem-Solving Abilities
Be ready to discuss instances where you've identified and implemented process improvements in your previous roles. Highlight how these changes enhanced efficiency or controls, as this aligns with the responsibilities of the position you're applying for.
