Pacific Life Re
Manager, Valuation
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Job Title
Manager, Valuation
Job Description
The Team
The newly formed global Valuation team at Pacific Life Re is responsible for the actuarial valuation of our diverse lines of business and global markets. The team will run and validate our integrated Tyche models to deliver insights across PL Re. They will support our long-term growth by implementing new business, continuously improving processes and specifying and testing future model changes, working closely with our Actuarial Systems Team who develop and maintain the models. The team will be a key part of PL Re’s Divisional Business Services, interacting with CA teams, Operations, Finance, R&D, and Pricing.
Our actuarial models are vital to the way we run our business, and the Valuation team will provide crucial insights across Financial Reporting, Business Planning and other processes. The team is at the start of an exciting transformation journey, driven by project Unify, towards more automated and efficient processes, making this an exciting time to join a new global team.
The Role
This role offers a unique opportunity to manage aspects of new business modelling within Corporate Actuarial across our global lines of business. You will be responsible for managing new treaty implementations and staying abreast of new business developments to ensure that our modelling approaches and processes keep pace with our growing business.
You will also help coordinate improvement of processes around implementations and embed changes delivered through the Unify program. This includes supporting with the delivery of the global ‘Tiering’ framework and managing any exceptions to the framework.
This cross-functional role requires collaboration with a wide variety of stakeholders, including our Operations and Line of Business front-office teams across all lines of business and regions, as well as the wider CA function.
The role involves managing a sub-team (potentially globally), and so you will have the opportunity to gain substantial experience in team management. You will coordinate efforts across various time zones, ensure effective communication within your sub-team and with other members of the New Business team and wider Valuation team. In addition, you will help develop a positive working culture and a high performing team.
Role Responsibilities
- People management of a sub-team within the global Valuation (New Business) team
- Managing implementation of new treaties, including taking key responsibility for our initiative to ‘clear the backlog’ of historical unimplemented treaties
- Helping embed and improve the global control framework for implementations
- Acting as a key point of contact with our Operations teams regarding the provision of valuation extracts
- Acting as a key point of contact with our Pricing teams regarding the handover of information for new treaty implementations
- Supporting the Harmony project on assumptions management as it expands to other regions and in functionality
- Helping to drive continuous improvement of implementation processes, including embedding related deliverables from the Unify program
- Specifying model requirements and testing new developments related to new treaty implementations
- Supporting with the implementation and continuous review of our cross-functional ‘Tiering’ framework
- Managing key CA data policies
- Assisting other sub-teams with model updates and runs as required
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Skills & Experience
- Qualified actuary with minimum of 3 years’ experience in life insurance or life reinsurance
- Team management / coaching experience and ability to manage across multiple locations and time zones
- Track record of challenging / improving processes and fostering a culture of continuous improvement
- Experience with actuarial modelling software (Tyche preferable) and proficient with Microsoft Excel
- Experience managing change and the introduction of new processes, controls and systems
- Good understanding of the Corporate Actuarial function
- Experience / understanding across various regions and Lines of Business desirable but not essential
Competencies and Behaviours
- Ability to work on own initiative and proactively manage a varied and demanding workload, ensuring tasks are completed efficiently
- Demonstrates strong people management skills
- Effective communication skills, both verbal and written, with a range of stakeholders
- Proven focus on quality, ensuring deliverables are accurate and fit for purpose
- Proven ability to build strong relationships with other functions, and work collaboratively to achieve common goals
- Ability to understand and apply new concepts quickly, showing initiative, flexibility, and resourcefulness
- Adaptability to change to evolving environments
- Pragmatic, able to balance accuracy with effort
- Willingness to challenge the status quo
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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
Please click here to view our company values
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