Job Title
Pricing Manager, Asset Intensive Reinsurance
Job Description
The Savings & Retirement (S&R) team at Pacific Life Re is responsible for sourcing opportunities and executing reinsurance transactions with clients in our target global retirement markets. We deliver bespoke reinsurance solutions to our clients to support policyholders’ retirement needs and financial goals.
The Deal Pricing team within S&R is responsible for pricing all products and reinsurance structures across our global markets. We focus on modelling cashflows, capital, and deal metrics, and with an emphasis on asset pricing for funded reinsurance transactions.
We have an opportunity for an experienced actuarial or investment focused professional with a strong background in asset-intensive reinsurance business. The ideal candidate will have deep knowledge and experience in structuring deals and developing and modelling investment solutions to back insurance liabilities.
The Role
You will be responsible for setting bespoke investment strategies and structuring solutions for funded reinsurance transactions, working closely with the Client Solutions and Pricing & Portfolio Solutions (PPS) teams.
In collaboration with the Client Solutions team, we focus on optimizing deal structures to provide clients with a strong commercial package while ensuring efficient capital structures for PL Re.
Key Responsibilities:
Pricing & Structuring: Lead the pricing and execution of bespoke asset-intensive quotes across S&R markets, including performing detailed analysis and developing materials for internal approvals.
Investment Strategy: Work with a broad range of asset classes including liquid and illiquid fixed income, structured products, and derivatives. Design strategies to manage and mitigate market risks (interest rate, currency, inflation, etc).
Capital Optimization: Understand the drivers of capital requirements for S&R products and how these vary under different reinsurance structures. This includes across economic capital, Bermuda Monetary Authority and NAIC RBC regimes.
Stakeholder Engagement Collaborate with Client Solutions, PPS, and investment management teams to optimise deal structures and assets strategies aligned with internal risk appetites and investment philosophy.
Collaborate with the S&R Insurance Pricing team to develop assumptions and understand insurance benefit structures and investment and capital dependencies.
Process Improvement: Identify and implement improvements in pricing processes and controls.
Leadership: Mentor and develop deal teams, supporting technical and professional growth.
Qualifications & Experience
Professional qualifications (SOA, IFoA or similar) with 5+ years of relevant experience in ALM or pricing (direct or reinsurance) with emphasis on assets and market risks.
Deal structuring experience in bespoke funded reinsurance solutions, collateral structures, investment and derivative strategies.
Knowledge of Bermuda capital, US RBC capital, and economic capital is a strong advantage.
Deep understanding of market risks (interest rates, FX, credit spread, liquidity) and their impacts to insurance capitalization. Understanding of insurance company balance sheets including insurance capital frameworks.
Ability to critically analyse model outputs, identify key drivers, and propose pricing improvements.
Ability to communicate complex actuarial concepts to a range of audiences both verbally and written. Track record of stakeholder management & seeking approvals/pitching.
Highly motivated and delivery focused. Comfortable operating under tight timelines and high-pressure environments to meet pricing commitments to internal stakeholders and clients.
Adaptability to changing priorities and business needs.
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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