Actuary, Pricing
HumanaSalary not specified
Deal Pricing Actuary, Savings and Retirement at Pacific Life
London, England, United Kingdom
Not SpecifiedCompensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Insurance, Reinsurance, PensionsIndustries
Requirements
- Strong technical skills necessary to build and run actuarial models, including pricing tools
- Broad understanding of modelling mortality and/or market risks (advantageous)
- Ideally, recently qualified actuary and a member of the IFoA or SOA
- Ability to work independently on reviewing critically numbers coming out of the model, understanding what drives changes, sense-checking results (at the level appropriate for an analyst)
- Ability to work in a flexible, dynamic team environment with occasional high-pressure deadlines based around transaction process
- Able to build relationships with colleagues in different teams and office locations
- Strong experience of Excel and actuarial modelling software (Tyche or similar)
- Good general understanding of market risks (interest rates, FX, credit spread, liquidity) and how they impact insurance capitalization
- Strong technical actuarial / investment background
Responsibilities
- Take ownership of the existing pricing tools (Tyche models and Excel models). Being responsible for the process of producing pricing quotes and making any upgrades and changes to the tools as required
- Identify inefficiencies in pricing processes & controls and implement improvements to address these as part of PL Re’s drive for process enhancements
- Understanding of macroeconomic assumptions (interest rates, credit spreads, FX) impact on pricing. Being able to obtain and interpret required investment data from Bloomberg and from investment teams
- 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
- Working with the insurance pricing team on understanding benefit structures and developing the insurance basis for S&R transactions
- Following the investment markets and being able to translate and explain changes in the market conditions into changes to pricing. Work with the asset management team to agree investment assumptions for pricing
- Work with the client solutions team to continually develop our proposition and look for and build strategies that manage and mitigate risks such as currency, inflation etc
- Focus on the cashflow & capital modelling, ensuring the specific products & risks are appropriately captured in pricing. Produce the deal metrics to ensure these meet all pricing hurdles & governance requirements
- Working with the client solutions team optimising deal structures to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re
- For deals with a funded element, work closely with the S&R ALM team & the Pacific Life Investments team to set an investment strategy to appropriately match the liabilities & client needs
- Responsible for the pricing activities related to treaty execution, and ensure the required information is handed over to the S&R inforce management team for implementation
Skills
Key technologies and capabilities for this role
Questions & Answers
Common questions about this position
What is the employment type for this position?
This is a full-time position.
Is this role remote or does it require office presence?
This information is not specified in the job description.
What are the core skills required for this Deal Pricing Actuary role?
The role requires a strong technical actuarial/investment background, including ownership of pricing tools like Tyche and Excel models, understanding of macroeconomic assumptions and investment data from Bloomberg, knowledge of capital requirements across regimes, and experience with cashflow and capital modeling.
What is the team structure and focus for the Savings & Retirement Deal Pricing team?
The team is responsible for producing fees and premiums for clients in global markets, covering bulk annuity, individual retirement products, and savings/protection benefits across structures like funded deals and longevity swaps, with a focus on cashflow/capital modeling and optimizing deal structures.
What makes a strong candidate for this Deal Pricing Actuary position?
A strong candidate will have a robust actuarial or investment background, experience managing pricing tools like Tyche and Excel, ability to improve processes, deep knowledge of macroeconomic factors, capital regimes, and reinsurance structures, plus skills in collaborating with client solutions, investment, and insurance teams.
Pacific Life
About Pacific Life
Newport Beach, CaliforniaHeadquarters
1868Year Founded
$189.4MTotal Funding
N/ACompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees
