AVP, Deal Pricing, Methodology

Job TitleAVP, Deal Pricing, Methodology & PropositionJob DescriptionThe TeamThe 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.

Key Responsibilities
The team focusses on the cashflow & capital modelling, ensuring the specific products & risks are appropriately captured in pricing. We will produce the deal metrics to ensure these meet all pricing hurdles & governance requirements.
We are responsible for setting the investment strategy for funded transactions and seek to optimise this within our investment risk tolerances. We achieve this by working closely with the ALM and investment management teams.
Working with the client solutions team we have a strong focus on optimising deal structuring to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re.
The RoleWe have an exciting opportunity for an individual with strong technical actuarial / investment background to join the S&R Deal pricing team delivering on the team’s responsibilities above.
You will be a leader in the team providing high quality analysis and supporting the technical & personal development of other team members.
As a creative thinker the role holder will support the development of PL Re pricing sophistication by understanding latest pricing and analytical techniques and continuously improving internal approaches and expanding our propositionKey responsibilitiesMaintain S&R Deal Pricing methodology framework. Ensure this remains aligned with the enterprise frameworks and meets the needs of Savings & Retirement as the business developsResponsible for the maintenance and development of the S&R pricing models. Ensure high standards of development and changes in line with model development frameworksProvide technical leadership and expertise for methodology and proposition developments within S&R. Work closely with client solutions and the pricing and portfolio solutions team on implementing new strategies and solutions for our clientsDemonstrate sound judgement in reviewing pricing proposals through constructive challenge and active recommendations. Including ensuring enterprise owned assumptions and inputs to the pricing are well understood and appropriate for the S&R business.
Uses initiative and creative thinking to deliver new solutions, processes or approaches to pricing risk & develop new deal structures.
Responsible for coaching and developing members of the team, to achieve team and company goals and individual performance standardsSupport and collaborate with the client solutions team in building and maintaining effective relationships with clients and promoting the Pacific Life Re brand. Support efforts to enter new markets & products and ensure appropriate pricing input is provided.
Support the pricing of non-standard transactions by providing technical oversight and challenge.
Ensure our pricing frameworks are well understood by the teams using these and lead delivery of training to maintain standards and technical excellenceQualifications & ExperienceThe successful candidate will:have strong technical skills necessary to develop and implemented pricing strategies for asset and insurance risk. Prior pricing experience beneficial but not essentialhave a strong desire to improve the effectiveness and efficiency of the pricing team through development of models, frameworks and individualsbe a qualified actuary or professional with financial markets/banking sectors with at least 7yrs post qualified experience.have strong and relevant experience in life (re)insurance and/or life consultancy, ideally with asset strategy expertise.have strong analytical skills, combined with sound judgement and commercial awareness, to produce justifiable and practical pricing advice even where data is sparse or difficult to work with.have a good understanding of the Savings & Retirement markets (e.g. UK PRT, Japan funded reinsurance)enable the development of junior members of the team and encourage ownership and responsibility for their individual task in respect deal pricing responsibilities.
Have experience driving projects forward, ensuring targets are met & securing approvals from senior stakeholdersHave strong written and verbal communication skills. Demonstrate an ability to work with colleagues at all levels of the organisationHave a solid understanding of life insurance company balance sheets, capital and profit reporting regimes (IFRS, Solvency II, US GAAP, BMA).
Working For Pacific Life ReEvery person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and supp