Senior Pricing Actuary

Well-Established international Insurance Company

Permanent

City of London

Competitive salary

The suitable candidate MUST have experience within commercial insurance lines and have dedicated experience as a Pricing actuary.

Responsibilities:

• Carry out pricing calibrations, provide challenge and oversight of pricing models, model governance, pricing strategy, processes and compliance
• Assess need for external pricing software support and work closely with IT to improve existing system and embed pricing changes
• Act as the company’s pricing/data expert reference point
• As part of the Finance team, nurture, and develop a near qualified actuary in the Underwriting Management team to assist in pricing work
• Build upon and extend the existing infrastructure so that cutting edge pricing and analytics practices are implemented throughout our commercial business in accordance with the company’s pricing framework
• Review pricing structure and recommend changes based on analysis of performance of different customer segments.
• Review external and internal data sources for value to insurance pricing and make recommendations.
• Design and Implement Pricing tests to understand customer behaviour like elasticity.
• Build and run regular reports/dashboards that highlights performance by different segments. Create actionable insights and help the company to continuously improve pricing structure.
• Support the CUO in setting product level benchmark prices, underwriting and reinsurance strategies from a pricing perspective
• Support new products pricing and product fair value assessment reviews
• Translate complex analysis to non-technical audiences, concentrating on material financial impacts of key modelling
• Own pricing risk governance with relevant regular reports and ensuring embedding of pricing controls
• Communicate results and prepare pricing regulatory returns and MI across the Underwriting and Product Management Committees

Requirements:

• 2.1 or higher in a numerate degree such as Mathematics, Engineering or Economics (or equivalent).
• Highly numerate with excellent attention to detail.
• ·5+ years experience in commercial insurance pricing. Personal lines pricing considered a plus
• ·Qualified or partly qualified actuary
• ·Able to code in Python or similar languages
• ·Has prior experience with any programming language (SAS, SQL, Big Query or a similar language) is preferred
• Highly motivated and ability to work off your own initiative
• Strong communication and interpersonal skills
• Good Excel Skills and ability to set up basic business models.
• Able to manage own workload effectively to meet deadline.
• Flexibility to adapt to changing conditions and priorities.
• ·Experience in setting and embedding pricing controls and dealing with complex data and ambiguity
• ·Quick learning and executing skills, ability to identify what is important, what could be wrong, and get solutions in place quickly
• ·Good commercial sense, with a deep understanding of FCA/PRA pricing requirements.