AVP, Corporate Actuarial, Valuation (S&R and Consolidation)
Pacific Life · London, United Kingdom · 13d ago
Job Title
AVP, Corporate Actuarial, Valuation (S&R and Consolidation)Job Description
The Team
The Global Valuation team at Pacific Life Re is responsible for the actuarial valuation of our diverse lines of business across multiple markets and legal entities. The team produces and validates actuarial results supporting financial reporting, business planning and capital management processes, working closely with stakeholders across Corporate Actuarial, Operations, Finance, R&D, and Pricing.
The team is at the centre of an exciting transformation journey, driven by Project Unify and continued investment in actuarial systems, data and processes. Working closely with our Actuarial Systems team, we are transforming the way actuarial reporting is delivered through greater automation, improved controls and more efficient processes, making this an exciting time to join a growing global function.
The Role
You will lead the Savings & Retirement ("S&R") and Consolidation sub-teams within Global Valuation, with responsibility for the execution of valuation processes supporting the S&R line of business and consolidated reporting activities. You will be accountable for the delivery of quarterly and ad hoc actuarial outputs, ensuring results are produced accurately, on time and in accordance with the required control framework.
Working closely with the New Business and Actuarial Analytics & Insights teams, you will act as a key valuation stakeholder for new business transactions, providing technical input on valuation requirements, operational readiness and model implementation considerations. You will support the onboarding of new business into valuation processes and provide specialist support for particularly complex or novel transactions where additional valuation expertise is required.
Alongside S&R responsibilities, you will oversee the Consolidation team, ensuring the production and validation of actuarial results supporting Economic Capital and Bermuda reporting processes.
As a member of the Global Valuation leadership team, you will contribute to the continued development of the team and help promote a positive and collaborative culture within the London office. You will also play a key role in driving process improvements, supporting model and reporting transformation initiatives, and overseeing the transition of asset modelling activities into Global Valuation.
Role Responsibilities
- People management and leadership of the S&R and Consolidation sub-teams.
- Provide technical actuarial input into new business opportunities, supporting the assessment of deal structures and their implications for valuation processes.
- Provide valuation expertise to support the implementation of new and novel S&R transactions, ensuring appropriate modelling solutions, controls and processes are established.
- Oversee the production and validation of actuarial results across various reporting bases (EC, BMA, US GAAP, IFRS4, IFRS17) for financial reporting and planning purposes.
- Oversee the execution and validation of actuarial model runs supporting stress testing, scenario analysis, in-force management and other ad-hoc business requirements.
- Oversee the transition and ongoing management of asset modelling activities within Global Valuation.
- Ensure robust controls and validation processes are maintained to support accurate and reliable actuarial outputs.
- Develop and maintain strong working relationships with other Corporate Actuarial teams, facilitating model run requests, technical queries and model enhancements.
- Drive continuous improvement of valuation processes and support delivery of strategic transformation initiatives, including Project Unify and ongoing Tyche development.
- Specify model requirements, support testing activities and provide business leadership for model developments.
Skills & Experience
- Qualified actuary with a minimum of 5 years' post-qualified experience in life insurance or life reinsurance.
- Experience of pension risk transfer, annuity or other Savings & Retirement business.
- Strong understanding of asset and liability interactions within actuarial modelling frameworks.
- Experience providing actuarial support for new business transactions, including assessment, implementation and ongoing reporting considerations.
- Team leadership and coaching experience, with a track record of developing capability, fostering engagement and building high-performing teams.
- Track record of improving processes and driving a culture of continuous improvement.
- Experience with actuarial modelling platforms, valuation processes and associated control frameworks.
- Experience leading change initiatives and implementing new processes, controls and systems.
- Strong understanding of the Corporate Actuarial function and its interaction with Pricing, Finance and Operations teams.
- Knowledge of regulatory capital frameworks such as Solvency II and/or BMA.
- Knowledge of IFRS17 and/or US GAAP LDTI, including practical experience of the associated modelling and reporting complexities.
- Experience of implementing complex or novel transactions within actuarial reporting and modelling frameworks would be advantageous.
Competencies and Behaviours:
- Ability to work on own initiative and proactively manage a varied and demanding workload
- Demonstrates strong leadership and people management skills
- Effective communication skills, both verbal and written
- Proven focus on quality, ensuring deliverables are accurate and fit for purpose
- Proven ability to work with other functions, developing and maintaining working relationships
- Ability to understand and apply new concepts quickly, showing initiative, flexibility, and resourcefulness
- Adaptability to change and evolving environments
- Pragmatic, able to balance accuracy with effort
- Willingness to challenge the status quo
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
Comprehensive private insurance coverage for employee and dependents
Group Life Insurance coverage of 9x basic annual salary and Group Income Protection up to 75% of basic annual salary
Optical benefits
Savings & Retirement
15% combined employee/employer contributions
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
You Can Be Who You Are
We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.
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