Actuarial Pricing Specialist, Savings

7 days ago


Toronto, Ontario, Canada Pacific Life Full time
About the Role

We are seeking an experienced Actuarial Pricing Specialist to join our Savings & Retirement Deal Pricing team at Pacific Life Re. As a key member of our team, you will be responsible for producing pricing quotes and making upgrades and changes to our pricing tools as required.

Key Responsibilities
  • Take ownership of our existing pricing tools, including Tyche models and Excel models, and be responsible for the process of producing pricing quotes.
  • Identify inefficiencies in pricing processes & controls and implement improvements to address these as part of our drive for process enhancements.
  • Understand the impact of macroeconomic assumptions (interest rates, credit spreads, FX) on pricing and be 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, including economic capital, Bermuda Monetary Authority, and NAIC RBC regimes.
  • Work with our insurance pricing team to understand benefit structures and develop the insurance basis for S&R transactions.
  • Follow the investment markets and be able to translate and explain changes in market conditions into changes to pricing. Work with our asset management team to agree investment assumptions for pricing.
  • Work with our client solutions team to continually develop our proposition and look for and build strategies that manage and mitigate risks such as currency, inflation, etc.
Requirements
  • Strong technical skills necessary to build and run actuarial models, including pricing tools. Prior experience in Pricing is not necessarily required, but broad understanding of modelling mortality and/or market risks will be an advantage.
  • 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).
  • Being able 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.
  • Experience of transactions and/or pricing work is beneficial but not essential.
  • 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 communication skills. Able to communicate complex actuarial concepts to a range of audiences both verbally and written.
What We Offer
  • Competitive salaries.
  • Work-life balance.
  • Collaborative and inclusive culture.
  • Social activities and events.
  • Formal and informal mentoring.
  • Learning and development options.
  • Corporate Social Responsibility initiatives.
  • Lots of fun clubs to join.


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