Model Risk Actuary, Divisional

Job Title Model Risk Actuary, Divisional

Job Description Model Risk Actuary, Divisional

Role Overview Join our Model Risk Management (MRM) team and play a key role in delivering independent validation and risk review of the actuarial models across PL Re. As part of the wider Risk function, the model risk team provides assurance to senior management and the Board on the effectiveness, accuracy and robustness of critical actuarial models. Working closely with model owners across the organisation, you will help strengthen model design, governance, processes, and controls.

This is an outstanding opportunity for a strong technical actuary to broaden their commercial perspective and gain insight into the operations of a leading global reinsurer.

You will work with a diverse range of teams and innovative models spanning Reporting, Pricing, R&D, Capital Management, Business Planning and Underwriting. Models will range from traditional actuarial models to novel AI solutions. The role offers exposure to a variety of modelling platforms, methodologies, and business applications, while providing the opportunity to develop and apply actuarial judgement and critical thinking to identify risks and drive continuous improvement of modelling practices across Pacific Life.

We welcome applications from strong technical actuaries who are ready to independently lead complex reviews and influence senior stakeholders.

Role Responsibilities Independently scope, plan and deliver model risk reviews while developing and defending review conclusions, including:

Scheduled independent reviews of actuarial models under PL’s Model Risk Management (MRM) Framework.

Targeted reviews in response to specific business requests, operational events or major model change.

Monitoring and reviewing model owners’ progress in addressing agreed remediation actions from previous reviews.

Develop and deliver model risk management information for business leaders.

Identify recurring model risk themes and deliver strategic model risk, governance and process improvement initiatives.

Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders.

Drive collaboration on strategic improvements between Line 1 delivery teams and Model Risk.

Take ownership of complex reviews and initiatives, coordinate input from reviewers and stakeholders, contribute to review priorities, and support the development of junior colleagues.

Skills & Experience Essential Qualified  Actuary Relevant experience in actuarial modelling, model validation or risk oversight

Good knowledge of actuarial model solutions and modelling software

Good understanding of life insurance & reinsurance industry

Understanding of effective governance, control design, documentation, testing and review standards for actuarial models.

Proven ability to proactively problem solve and challenge existing practices

Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly.

Experience planning and delivering technical review work across competing priorities

Strong report writing experience

Desirable

Broad post-qualified actuarial experience

Experience identifying and recommending solutions to critical issues

Experience of delivering strategic model change and/or process improvement

Experience of working within a model valuation and reporting team

Experience of working within a capital management team

Experience of working within a research and development (R&D) team Competencies and Behaviours:

Demonstrates good analytical and technical skills

Ability to manage competing priorities and deliver to agreed timescales

Interpersonal, collaboration, verbal, and written communication skills

Confidenc…