Actuarial Manager, Deal Pricing, Savings & Retirement

**** Job Title
**** Manager, Deal Pricing, Savings & Retirement
**** Job Description****#
** The Team
** The 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.
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* 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 optimize 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 optimizing deal structuring to provide clients with a strong commercial package whilst ensuring an efficient capital structure for PL Re.
* The team is responsible for the pricing activities related to treaty execution, and ensuring the required information is handed over to the S&R inforce management team for implementation.# #
** The Role
** We have an exciting opportunity for an individual with strong technical skills from either an actuarial or investment background to join the S&R Deal Pricing team.
** Responsibilities of the role include:
*** Take ownership in leading quotes across S&R products and markets. Drive success from encouraging and developing deal teams.
* Take ownership for developing our asset pricing approaches and working with the AVP, Deal Pricing to implemented & obtain approvals for new approaches to improve pricing
* Identify inefficiencies in pricing processes & controls and lead projects implementing improvements to address these as part of PL Re’s drive for process enhancements.
* Understanding of macroeconomic assumptions (interest rates, credit spreads, FX) impact on pricing. Being 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. This includes across economic capital, Bermuda Monetary Authority and NAIC RBC regimes.
* Working with the S&R Insurance Pricing team on understanding benefit structures and developing the insurance basis for S&R transactions.
* Following financial markets and being able to translate and explain changes in the market conditions into changes to pricing. Work with the asset management team to agree investment assumptions for pricing.
* Work with the client solutions team to continually develop our proposition and look for and build strategies that manage and mitigate risks such as currency, inflation etc.
* Manage pricing actuaries & analysts in the team and ensure their technical & soft skills development.# #
** Qualifications & Experience
**** Core skills and experience:
*** Strong technical skills necessary to build & run actuarial/asset models and interpret the results. Prior experience in Pricing is beneficial but not essential. Broad understanding of capital modelling, asset risks & strategies for liability driven investments is desirable
* Professional qualifications (FSA, IFoA, CFA or similar) with 5+ years of professional experience in an investment or actuarial team.
* Ability to work independently on critically reviewing numbers coming out of the model, understanding what drives changes, sense-checking results and suggesting improvements to drive price benefits
* Deal focused individual. Able to work to tight timelines and periods of high-pressure to deliver on pricing commitments to internal stakeholders and clients, often across multiple deals simultaneously.
* Strong experience of Excel and actuarial/asset modelling software (e.g. Tyche, Bloomberg)
* Good understanding of market risks (interest rates,…