Job Title
AVP, Accounting & Structuring, Capital Solutions
Job Description
Capital Solutions is the newest line of business that Pacific Life Re offers to support clients. We are providing financial reinsurance to clients to enhance their balance sheet, either through accessing trapped capital, reducing earnings volatility or monetising value that currently sits off balance sheet.
The transactions will typically be of a bespoke nature, covering a range of products and risks across the world. The Capital Solutions team sits alongside the Protection and Savings & Retirement teams to offer a full comprehensive product suite to clients. The Capital Solutions team is structured into three key areas: Pricing, Client Solutions, and Accounting & Structuring. As a small, high-impact team, individuals will get broad exposure across all areas, with team members often acting as sounding boards for one another and contributing across a diverse range of responsibilities.
This is a global role which gives the individual the unique opportunity to engage with clients, develop solutions and support execution across the world. We are seeking an individual who specialises in accounting and structuring to complement our current team’s skills.
The Accounting and Structuring Specialist plays a pivotal role in the development and execution of bespoke capital solutions. This role is responsible for:
- Identifying redundancies and nuances in regulations which may benefit from a Capital Solution structure
- Assessing the accounting and regulatory implications of proposed transactions from both the client’s and Pacific Life Re’s perspective#
- Supporting the structuring and design of tailored reinsurance solutions globally
- Supporting client engagements from initial concept through to deal execution
Role Responsibilities
- Design and structure bespoke reinsurance transactions by translating client objectives into innovative, practical, and commercially viable solutions
- Evaluating the implications of potential structures against relevant accounting standards (e.g., IFRS, US GAAP, local GAAPs) and regulatory frameworks (e.g., Solvency II, ICS) from both the client’s perspective and Pacific Life Re’s internal bases
- Keep abreast of financial performance, market conditions, and industry trends, to identify new structuring opportunities and enhance solution design
- Collaborate with the Pricing team to review and refine proposed structures, incorporating feedback from their risk assessment
- Monitor evolving regulatory and accounting developments and assess their impact on structuring opportunities
- Work closely with the Client Solutions team, participating in client discussions to help shape and communicate the structuring
- Collaborate with back-office functions (e.g., Finance, Corporate Actuarial, Operations) keeping them informed of upcoming transactions and future solutions
- Support deal structuring for large or complex transactions across the broader Pacific Life Re division
- Contribute to the development of internal tools, frameworks, and best practices for transaction structuring
Skills & Experience
- A strong understanding of accounting regulations, with knowledge of IFRS 17 / 9 essential, whilst US GAAP and other local GAAP bases is desirable
- A strong understanding of global regulatory capital bases, with knowledge of either Solvency II or South-East Asian capital bases (KICS, MAS, RBC2) being essential
- Actuarial qualification with 5+ years of professional experience
- Experience in structuring or advising on complex reinsurance transactions is desirable
- Able to apply a creative mindset to come up with innovative and bespoke solutions
- Strong technical and problem-solving skills necessary, with the ability to work on a wide range of solutions at once
- Ability to work independently in a flexible, dynamic team with some high-pressure deadlines
- Excellent communication skills with the ability to effectively explain new concepts to stakeholders and collaborate with other teams around the business
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
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