Job Title
Actuarial Analyst, Actuarial Analytics & Insights, Protection
Job Description
Actuarial Analyst, Actuarial Analytics & Insights, Protection
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 Actuarial Analytics & Insights, Protection team forms part of the Corporate Actuarial (CA) function within Divisional Business Services (DBS) and is responsible for the Protection Line of Business.
The team are responsible for performing analysis and communicating insights in relation to both the in-force book and new business across US GAAP, US Statutory (US STAT), Internal Economic Capital (EC) and Bermuda Monetary Authority (BMA) reporting bases, as well as regional statutory bases where relevant. The team’s focus is on developing a deep understanding of the balance sheets, delivering value-add outcomes that supporting the Protection business and wider PL Re’s strategic priorities.
The team will interact closely with the wider CA team (including the Valuation and Actuarial Systems & Projects team) and DBS team (including Finance, Operations and R&D). The team will be integral to the success of PL Re, collaborating closely with the Protection and Capital Solutions front-office and Pricing functions.
The Role
The role represents an exciting opportunity for an individual with a strong actuarial background to join the newly established Protection Actuarial Analytics and Insights team at PL Re.
Reporting to the Manager, Actuarial Analytics & Insights, Protection, Europe, this role will offer a challenging variety of work, exposure to senior management and excellent opportunities to positively contribute to the future direction of Europe Protection and wider PL Re. The role requires an excellent understanding of actuarial concepts and an ability to identify, understand and explain underlying risks and financial results, particularly in respect of reporting and balance sheet impacts.
The successful individual will play a leading role in analysing quarterly and Business Plan results while also communicating findings to senior management. The newly established team will also be responsible for identifying and overseeing the delivery of opportunities that add value to European Protection business.
As part of this role, you will work with other functions within DBS and work with other CA teams across Pacific Life. Similarly, you will work closely with the Protection Line of Business team, contributing to PL Re’s success in a global, dynamic marketplace. Stakeholder management, the ability to understand new concepts and strong problem-solving skills are therefore required to ensure reporting challenges and opportunities relating to both the in-force book and new initiatives are well understood by relevant stakeholders.
Role Responsibilities
* Part of the Actuarial Analytics & Insights, Protection team, helping deliver on key strategic goals for Protection line of business, and the effective understanding and communication of financial results.
* Responsible for the analysis and explanation of quarterly financial results (e.g. QBR, and IRT) including:
o Support in the attribution and explanation of quarterly results.
o Support the understanding of the dynamics of the financial results, through forward looking scenarios and sensitivities.
o Clear explanation, insights and proposing of management actions, relating to results and balance sheets of Protection
* Assisting in the identification and analysis of value-add opportunities for Europe Protection business including developing a strong understanding of the economic performance of the Europe Protection business
Skills & Experience
* Part qualified actuary with at least two years of experience Life insurance or reinsurance
* Experience of the UK Protection market preferred
* Strong understanding of actuarial valuation principles and processes, knowledge and experience of actuarial control cycle is a plus
* Proficient in MS-Excel and actuarial software (Tyche preferable, but training will be provided where role holders have experience with alternative software)
* Strong analytical, problem solving and communication skills
* Ability to work on own initiative and pro-actively manage a varied and demanding workload
* Detail-oriented with the ability to work to timelines
* Proven ability to work with other functions, developing and maintaining working relationships with all parties
* Ability to understand and apply new concepts quickly. Shows initiative, flexibility, and resourcefulness
* Embraces change and can work in a fluid environment
* Strong analytical skills and a demonstrable ability to plan and prioritise workloads and deliver to deadlines.
Competencies and Behaviours:
* Demonstrates an appropriate level of technical skills for the role and an appreciation of current issues affecting their profession and the life reinsurance industry
* Able to deal with challenging deadlines and prioritises effectively
* Participates actively in meetings, has ‘meeting presence’
* Stakeholder management and business engagement
* Ability to understand and apply new concepts quickly, showing initiative, flexibility, and resourcefulness
* Self-starter, solution-based thinker
* Embraces change and can work in a fluid environment
* Pragmatic, able to balance accuracy with effort
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
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
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