Senior Underwriter, High Net Worth, UW&C Services

Job Title

Senior Underwriter, High Net Worth, UW&C Services

Job Description

The Role

The Lead, High Net Worth Underwriting is responsible for supporting the development, implementation and ongoing evolution of Pacific Life Re's High Net Worth (HNW) underwriting proposition, supporting HNW business globally and enabling knowledge-sharing, technical collaboration and consistent best practice across markets.

The role serves as the technical leader for High Net Worth underwriting, providing specialist expertise across medical, financial and non-medical risk assessment while supporting profitable and sustainable portfolio growth.

Working closely with clients, distribution partners and internal stakeholders, the role is responsible for delivering competitive, consistent and commercially focused underwriting solutions for complex and high-value life insurance risks.

The role also contributes to the development of underwriting philosophy, governance frameworks, operating models, technical standards and market capabilities that support Pacific Life Re's broader HNW strategy.

As a recognised subject matter expert, the role provides leadership on complex underwriting cases, client engagements, proposition development initiatives and emerging underwriting challenges while promoting underwriting excellence, innovation and continuous improvement.

The role maintains collaborative relationships with underwriting, claims, product, risk and reinsurance stakeholders across Pacific Life Re and the broader Pacific Life enterprise to leverage global expertise, share insights and support the ongoing development of the HNW proposition.

Key Responsibilities

High Net Worth Underwriting

· Assess and underwrite complex and high-value life insurance risks in accordance with underwriting philosophy, delegated authorities and risk appetite.

· Deliver sound, timely and commercially competitive underwriting decisions while maintaining strong mortality and morbidity management.

· Evaluate medical, financial and non-medical information to determine appropriate risk classification and underwriting outcomes.

· Assess large and complex cases involving significant sums assured, business ownership structures, family wealth arrangements, private wealth considerations and other specialised HNW risk exposures.

· Determine appropriate underwriting requirements, risk mitigation strategies and referral pathways where required.

· Provide technical leadership and decision support for complex underwriting referrals and exceptional risks.

· Maintain underwriting decisions and documentation that are consistent, transparent and defensible.

Proposition Development & Strategy

· Develop and refine Pacific Life Re's HNW underwriting proposition.

· Maintain underwriting standards and practices that support growth and risk management.

· Design scalable underwriting models for future growth.

· Develop approaches for emerging and complex HNW risks.

· Develop HNW authorities, governance and technical guidelines.

· Provide expertise for strategic initiatives and proposition reviews.

· Monitor market trends and opportunities for innovation.

Financial Underwriting Leadership

· Conduct sophisticated financial underwriting assessments involving complex income structures, asset portfolios, business interests, trusts and wealth accumulation strategies.

· Evaluate insurable interest and economic justification for large life insurance exposures.

· Assess sources of wealth and financial legitimacy in support of underwriting and compliance requirements.

· Identify concentration risks and accumulation exposures across individuals, families, businesses and related entities.

· Provide specialist guidance and technical leadership on financial underwriting matters.

· Support development of financial underwriting guidelines and best practices for High Net Worth business.

Client Engagement & Market Development

· Develop and maintain trusted relationships with clients, distribution partners and key stakeholders.

· Participate in client meetings, workshops, audits, training programmes and technical consultations.

· Provide technical underwriting expertise supporting business development initiatives and client retention activities.

· Contribute to Pacific Life Re's market presence through thought leadership, technical presentations and industry engagement activities.

Reinsurance & Portfolio Management

· Support management of underwriting relationships associated with High Net Worth business.

· Facilitate review and assessment of complex facultative opportunities and large case referrals.

· Provide underwriting expertise supporting portfolio management activities and risk assessments.

· Contribute to retention strategy discussions and optimisation of risk sharing arrangements where required.

· Monitor market capacity, emerging underwriting developments and competitor approaches within the HNW segment.

· Assist with underwriting input supporting treaty reviews, portfolio performance assessments and strategic market initiatives.

Governance, Quality & Risk Management

· Ensure underwriting decisions comply with regulatory, governance and company requirements.

• Support audits, peer reviews, quality assurance and the maintenance of underwriting guidelines and authorities.
• Identify emerging underwriting and compliance risks and recommend appropriate controls.

Technical Leadership & Capability Development

· Act as a recognised HNW underwriting subject matter expert.

• Build capability through coaching, mentoring, training and knowledge-sharing.
• Develop future HNW specialists and promote collaboration and technical excellence.
• Stay current with medical, financial and underwriting developments.

Strategic & Enterprise Contribution

· Partner across underwriting, claims, product, pricing, risk, legal and business development to deliver the HNW strategy.

· Share expertise and market insights across Pacific Life globally to strengthen underwriting frameworks and client outcomes.

• Contribute specialist expertise to strategic and cross-functional initiatives.
• Support digital, automation and analytics initiatives that improve underwriting effectiveness and customer experience.

Qualifications & Experience

Essential

· Bachelor’s degree in a relevant discipline

· Minimum 12 years' life insurance underwriting experience.

· Significant High Net Worth underwriting experience, ideally with a global reinsurer.

· Expert technical underwriting and risk assessment capability.

· Strong understanding of underwriting philosophy, governance and risk management principles.

· Excellent analytical, decision-making and problem-solving skills.

· Strong verbal and written communication skills.

· Demonstrated ability to build trusted stakeholder relationships.

· Ability to influence outcomes across diverse stakeholder groups and disciplines.

Preferred

· Experience supporting proposition development, underwriting frameworks or operating model design.

· Experience with portfolio management and treaty development.

· Experience working across multiple jurisdictions and markets.

· Professional qualifications including ALU, FALU, FLMI, ANZIIF, CII or equivalent.

· Postgraduate qualifications in Business, Finance, Economics, Risk Management or a related discipline will be highly regarded.

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

23 days of annual leave with option to buy/sell more days

Adoption and fertility leave

Generous enhanced parental leave

Healthcare

Comprehensive private insurance coverage for employee and dependents

Group Term Life Insurance coverage of 5x basic annual salary, Group Accelerated CI of 1x annual basic salary and Group Accidental Death & Dismemberment of 3x annual basic salary

Optical & Dental benefits

Additional flexi benefits

Wellness

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