Job Title
Senior Actuarial Analyst, Pricing, Protection, Europe
Job Description
Senior Actuarial Analyst, Pricing, Protection, Europe
We’re a global life reinsurer operating in Europe, Asia, Australia and North America, and are part of Pacific Life, a mutual insurance group. Fuelled by our pursuit of excellence and a quest to innovate, we’re proud to do things differently. Our people aren’t afraid to disrupt and challenge industry thinking and provide the best protection, savings and retirement reinsurance products and services possible.
The Team
The Protection Pricing team based in London is responsible for experience analysis and best estimate assumption setting as part of reinsurance tender exercises for our European Protection business. As part of the wider global Protection line of business we offer opportunity to collaborate and learn from our colleagues across the world.
Supporting our clients to find innovative ways to solve the problems they face, we are focused on balancing a high degree of technical bias with an appropriate level of pragmatism. The team work closely with our colleagues across the business including Underwriting, Claims, Client Solutions, R&D and Strategic Analytics to bring our broad expertise in to our pricing analysis.
The Role
As a proactive and technical Pricing Analyst you will be an integral part of team delivering reinsurance terms to clients predominantly in the UK and Ireland. With a focus predominantly on Protection products (Life, CI & IP) you work alongside junior and senior members of the team with direct responsibility for assumption setting and delivery of reinsurance rates.
Reporting to the Manager, Pricing, Protection, Europe, this role will offer a challenging variety of work with a high degree of autonomy and responsibility. Providing access to senior leadership of the Europe Protection business and the opportunity to positively and visibly contribute to the delivery of our strategy.
The successful candidate will demonstrate a high level of initiative and strong problem skills to tackle their work in a well-considered and effective way, with the ability to understand new concepts and communicate clearly in various
settings.
You will be supported to grow your actuarial capabilities and take on increasing levels of responsibility, we encourage all members of the team to be proactive in their development.
Key Responsibilities
Works as part of the Pricing team, providing support to more senior actuarial colleagues across a range of Pricing activities ensuring we are able to win and maintain profitable business.
- Supports senior actuarial colleagues with activities including quote work within the Pricing team by processing, analysing, interpreting data and conducting research alongside having a good understanding of the context of the task we are trying to solve, and making related recommendations.
- Running of the pricing process, including the running of models, experience analysis, and required ad-hoc tasks.
- Considers pragmatic alternatives to standard processes, appropriately balancing risk and efficiency.
- Follows internal guidelines and policies with support from manager and senior team members.
- Appropriately documents relevant considerations (including in pricing papers) with demonstration of thought processes under the guidance from senior colleagues.
- Suggests and supports the wider Pricing team with improvements across processes, tools, models, and documentation including challenging current practices.
- Studying for actuarial exams and making progress towards fellowship of a professional actuarial body.
- Effective communication skills, ensuring appropriate stakeholder management within the pricing team including providing updates at the appropriate time.
- Develop internal relationships within and across teams.
Typical Requirements
- A student member of a professional actuarial body (e.g., The Institute and Faculty of Actuaries, Society of Actuaries, or the Actuaries Institute of Australia), typically with a minimum of eight examinations passed and two years of relevant experience.
- Experience in a technical role at a (re)insurer, consultancy or another statistical based industry.
- Knowledge of experience analysis, basis setting, cashflow modelling and product design are preferable. Competent in a range of applicable software (Excel, R, cashflow modelling).
- Ability to analyse and interpret data, draw conclusions from it and clearly communicate findings to key stakeholders across the business.
- Has a good understanding of the UK and Irish Life (or similar) Life insurance markets.
- Strong problem-solving and prioritisation skills, able to balance judgement and detail whilst working to deadlines.
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
Savings & Retirement
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
