Insurance Risk Actuary Manager

Job Title

Insurance Risk Actuary Manager

Job Description

Pacific Life is investing in bright, agile and diverse talent to contribute to our mission of innovating our business and creating a superior customer experience. We’re actively seeking a talented actuary to join our Enterprise Insurance Risk Management team in Toronto, ON. This role is on-site, hybrid with flexibility to work from home.

Pacific Life seeks to strategically and profitably grow insurance risk. We take on insurance risk both as a direct writer (through the Consumer Market Division, Institutional Division and Workplace Benefit Division) and as a reinsurer (via the international Pacific Life Reinsurance Division) through diverse product offerings and global geographies. This provides a unique opportunity to consider and connect multiple perspectives in creating a consistent view of insurance risk and the business implications. You will contribute to the monitoring and quantification of enterprise-wide insurance risk including mortality, longevity, morbidity, policyholder behaviors, reinsurance, underwriting, etc. and the interactions with other relevant risks.

To support Pacific Life’s digital first and data driven strategy, you will work with stakeholders and analytics practitioners across the enterprise to manage the risks in the development and implementation of data analytics strategy including accelerated underwriting, assumptions development, economic capital, and emerging regulatory requirements on the use of AI, etc.

How You Will Make An Impact

• Collaborate across divisions and functions to support appropriate Economic Capital (EC) modeling, stress calibration and risk aggregation. Ensure existing thinking and approaches are leveraged effectively between divisions
• Act as a subject matter expert and resource across divisions with respect to insurance decrement assumption setting, as well as the research and development of insurance risk quantification including EC and Value of New Business (VNB) in pricing, valuation and capital management
• Develop and maintain robust documentation, ensuring the Enterprise approach with respect to insurance risk is clear and accessible
• Own and improve quarterly monitoring to provide a consolidated and consistent view of the enterprise’s insurance risk exposure
• Support the Head of Insurance Risk Analytics & Oversight, Divisional CROs and the wider Risk function in providing effective second-line challenge and oversight through risk reviews of material transactions or significant new retail products as well as ad-hoc projects
  
  

The Experience You Will Bring

• Bachelor’s degree and Fellow of the Society of Actuaries or similar organization; advanced degree in a quantitative field preferred
• At least 5 years of responsible actuarial experience with significant exposure to product pricing, reinsurance, and insurance risk management across retail and institutional lines of business; global experience preferred
• Proven track record of developing and applying advanced analytics models in application such as pricing, assumptions development and/or economic capital
• Demonstrated ability to analyze and distill emerging risk trends, effectively communicate insights and identify potential risk mitigants
  
  

What Will Make You Stand Out

• Demonstrated courage in effective challenges with solid analysis as well as business acumen to drive practical solutions
• Self-starter, has a continuous improvement mindset. Manages ambiguity, exhibits courage, can work effectively with and influence different levels of the organization and across business lines.
• Strong visual communication skills to tell “the story” with right level of details for a wide range of audiences.
• An advanced degree in a quantitative field such as statistics
• Hands-on experience in developing data science models with successful deployment
  
  

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. 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

• 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!
  
  

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 Principles and Behaviours

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