Pricing Actuary
Job Description
The Role
Reporting to the AVP Pricing, North America, this role will work on actuarial pricing for retrocession pools and large block reinsurance transactions written by the Protection Line of Business in North America.
The role will focus on pricing and risk assessment for large block deals within the U.S. market, specifically for Term, Whole Life (WL), and Universal Life (UL) products, while also considering Long-Term Care (LTC) as a potential future opportunity. This includes evaluating and structuring transactions, conducting experience analysis, and developing assumptions for mortality, morbidity, and lapse risks.
The Pricing Actuary will also contribute to pricing model maintenance, support internal risk management efforts, and collaborate with global pricing teams to enhance pricing processes and methodologies. You’ll be working in a company that values your technical expertise, innovative thinking, and ability to communicate complex ideas effectively.
How you will make an impact:
Pricing Actuary Responsibilities:
Contribute to the assessment of U.S. reinsurance block or flow opportunities from both a pricing and risk perspective.
Manage pricing projects and quotes with support from senior actuarial colleagues.
Support the development of pricing assumptions for new opportunities, including mortality, lapse, and expense assumptions, under the guidance of senior team members.
Collaborate with cross-functional teams (e.g. Business Development, Underwriting, Risk Management and R&D) to support pricing initiatives.
Maintain and enhance pricing models and tools.
Prepare pricing documentation and presentation for internal stakeholders.
Stay informed on market trends and developments in North America reinsurance space.
Contribute to the continuous improvement of pricing processes and frameworks.
Qualifications & Experience:
Essential:
FSA, or equivalent actuarial designation with 4+ years of insurance/reinsurance experience.
Experience in reinsurance or direct insurance pricing, with a focus on individual life products.
Strong understanding of actuarial principles, risk assessment, and financial structuring of reinsurance deals.
Proficiency in actuarial modelling software (e.g Axis, Tyche, Prophet) and data analytics tools (e.g., SQL, Python, R, Tableau, Excel/VBA).
Excellent technical, analytical, and problem-solving skills.
Effective communication and interpersonal skills.
Strong organizational and time management skills.
Innovative mindset with a focus on continuous improvement.
Proactive, self-motivated, and able to work independently.
What makes you stand out:
Experience in the U.S. individual life and annuity markets, including development of mortality and lapse assumptions.
Familiarity with pricing and financial modeling techniques for reinsurance transactions.
Strong mentoring skills to develop and train junior team members.
Project management experience.
#LI-JF1
- Works independently, receives minimal guidance.
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. 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.
• Competitive salaries
• Work-life balance
• Collaborative and inclusive culture
• Social activities and events
• Formal and informal mentoring
• Learning and development options
• Corporate Social Responsibility initiatives
• Lots of fun clubs to join!
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
