Pricing Actuary, Protection, Australia

Job Title

Pricing Actuary, Protection, Australia

Job Description

The Role

The Actuary, Pricing Protection is a senior professional role within the Protection Pricing team in Australia, materially contributing to pricing activities across Pacific Life Re Australia’s protection business.

The role supports the pricing of Retail, Group, and Direct sold protection business, with a primary long-term focus on a key retail portfolio business in Australia. In the short term, the role will play a key role in a unique global project, leading pricing process redesign and redevelopment initiatives in close collaboration with partner teams.

Working closely with the Manager Protection Pricing and other senior pricing colleagues, the role ensures pricing outcomes meet profit and risk targets, comply with pricing and risk management standards, and are supported by robust documentation, governance, and technical rigour.

This role is suited to a qualified actuary with strong technical pricing capability, sound actuarial judgement, and advanced coding skills (particularly Python), who can operate effectively across both hands-on technical work and higher-level pricing decision making. The day-to-day work will include:

• Leading and delivering pricing workstreams for retail new business and in force pricing quotations, ensuring timely, high quality pricing terms supported by robust analysis and clear documentation
• Deriving and reviewing pricing assumptions (including for new benefits, risks, or structures) with minimal guidance, applying actuarial judgement and making well-reasoned recommendations to senior stakeholders
• Producing high quality pricing papers and reports, including concise executive summaries that clearly articulate key commercial, technical, and risk considerations
• Ensuring adherence to pricing guidelines, governance standards, and approval frameworks, proactively engaging approvers and escalating issues where required
• Leading pricing projects and initiatives, including process design, redevelopment, and automation initiatives aligned with a key global project and longer-term pricing strategy
• Designing, building, and maintaining pricing tools and models, with a strong focus on Python based development and automation (including acting as, or developing into, a lead developer of complex tools for the team)
• Challenging existing practices constructively and driving continuous improvement across pricing processes, tools, models, and documentation to reduce operational risk and improve efficiency
• Working closely with internal stakeholders including Client Solutions, R&D, Corporate Actuarial, Claims, and Underwriting to improve insurance risk management, profitability, and competitive positioning
• Supporting marketing and business development activities, contributing pricing insight and helping build and maintain strong client relationships, particularly within the key retail partnership
• Coaching and developing junior team members, providing technical guidance, training, and review support as appropriate

You’ll be working in a company that values your technical skills, the innovative ideas and solutions you bring into the work you do, and your ability to communicate those ideas effectively. You’ll also have the opportunity to work on all of Pacific Life Re Australia’s protection product lines: mortality, TPD, income protection, and trauma within both the group and retail markets. 

Pricing Actuary Responsibilities

• Demonstrate excellent knowledge of pricing policies, guidelines, and governance requirements, ensuring compliance and securing appropriate approvals
• Lead quotes and pricing projects with support from more senior actuarial colleagues, taking ownership of outcomes
• Apply expert actuarial judgement in assumption setting, methodology selection, and risk assessment, including influencing outcomes where required
• Produce well structured, clearly articulated written outputs suitable for senior management and governance forums
• Actively coach and develop junior team members, strengthening overall team capability
• Exhibit highly effective stakeholder management, maintaining strong relationships throughout the end-to-end pricing process
• Maintain a broad and up to date understanding of the Australian protection market, competitive dynamics, and emerging risks

Qualifications & Experience

• Qualified Actuary (Fellow of a recognised professional actuarial body, e.g. Actuaries Institute Australia, IFoA, SOA), or equivalent experience
• Strong understanding of actuarial pricing principles, processes, and governance frameworks
• Prior working experience in direct insurance pricing, including assumption setting, new business and in-force repricing
• Strong Python coding capability, with experience developing or maintaining pricing tools and models
• Experience leading or contributing to process redesign, automation, or transformation initiatives
• Strong analytical, written, and verbal communication skills
• Ability to balance technical rigour with commercial judgement in pricing decision making

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. Of course, we take our work seriously and we know our team can operate under great pressure. 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

Leave

• 20+5 days of annual leave with option to buy more days

• Fertility leave 

• Generous enhanced parental leave  

Healthcare

• The Company’s Group Salary Continuance Insurance (SCI)/Income Protection (IP) provides you with a continued salary, through monthly Benefit payments, in order to protect your standard of living should you be unable to work due to long term illness, injury or partial/total disability

Wellness

• Subsidized gym membership 

• Access to Employee Assistance Program 

• Time off for volunteering 

• Charitable matching of employee donations 

You Can Be Who You Are

We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

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 Values

Please click here to view our company values