Job TitleActuary, Pricing
Job DescriptionReporting to the AVP Pricing, North America, this role will work on actuarial pricing for retrocession pools and large block reinsurance transactions written by the Protection Line of Business in North America.
The Pricing Actuary will focus on pricing and risk assessment for large block deals within the U.S. market, specifically for Term, Whole Life (WL), and Universal Life (UL) products, while also considering Long-Term Care (LTC) as a potential future opportunity. This includes evaluating and structuring transactions, conducting experience analysis, and developing assumptions for mortality, morbidity, and lapse risks.
The Pricing Actuary will also contribute to pricing model maintenance, support internal risk management efforts, and collaborate with global pricing teams to enhance pricing processes and methodologies.
Responsibilities:- Contribute to the assessment of U.S. reinsurance block or flow opportunities from both a pricing and risk perspective.
- Manage pricing projects and quotes with support from senior actuarial colleagues.
- Support the development of pricing assumptions for new opportunities, including mortality, lapse, and expense assumptions, under the guidance of senior team members.
- Collaborate with cross-functional teams (e.g. Business Development, Underwriting, Risk Management and R&D) to support pricing initiatives.
- Maintain and enhance pricing models and tools.
- Prepare pricing documentation and presentation for internal stakeholders.
- Stay informed on market trends and developments in North America reinsurance space.
- Contribute to the continuous improvement of pricing processes and frameworks.
Qualifications & ExperienceEssential: - FSA, or equivalent actuarial designation with 4+ years of insurance/reinsurance experience.
- Experience in reinsurance or direct insurance pricing, with a focus on individual life products.
- Strong understanding of actuarial principles, risk assessment, and financial structuring of reinsurance deals.
- Proficiency in actuarial modelling software (e.g Axis, Tyche, Prophet) and data analytics tools (e.g., SQL, Python, R, Tableau, Excel/VBA).
- Excellent technical, analytical, and problem-solving skills.
- Effective communication and interpersonal skills.
- Strong organizational and time management skills.
- Innovative mindset with a focus on continuous improvement.
- Proactive, self-motivated, and able to work independently.
Desirable: - Experience in the U.S. individual life and annuity markets, including development of mortality and lapse assumptions.
- Familiarity with pricing and financial modeling techniques for reinsurance transactions.
- Strong mentoring skills to develop and train junior team member.
- Project management experience.
Salary: $127,800.00 - $149, 100.00 CAD
Compensation RangeThe compensation range noted represents the company's good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location.
BenefitsLeave - 23 days of annual leave (Regular employees) with option to buy or sell more days
- Fertility leave
- Generous parental leave
Healthcare
- Group Life Insurance and Accidental Death & Dismemberment coverage for all permanent employees
- Dental & Optical benefits
Savings & Retirement
- RRSP: company-matched contributions
Wellness
- Employee and Family Assistance Program
- Subsidized gym membership
- Time off for volunteering
- Charitable matching of employee donations
Pacific Life Re ValuesPlease click here to view our company valuesUse of AI As part of our commitment to a fair and efficient hiring experience, we want to inform you that we may use artificial intelligence (AI) tools to assist in reviewing resumes, and during the assessment process, including through platforms like HireVue. These tools help us identify relevant qualifications and streamline evaluations, but final decisions are always made by our hiring team.
