Senior Pricing Actuary
Permanent @Charlie Watson posted 1 week ago in Compliance Shortlist Email JobJob Detail
-
Job ID 41775
Job Description
Senior Pricing Actuary
City of London / Hybrid
Permanent
Paying up to £90,000
Â
cer Financial are working alongside a commercial insurance company who are based in the City of London. They are seeking a Senior Pricing Actuary to work with them on a permanent basis.
The responsibilities of a Senior Pricing Actuary will include:
Â
- 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
Â
The successful Senior Pricing Actuary will have:
Â
- 1 or higher in a numerate degree such as Mathematics, Engineering or Economics (or equivalent).
- 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
- Good Excel Skills and ability to set up basic business models.
- Experience in setting and embedding pricing controls and dealing with complex data and ambiguity
- Good commercial sense, with a deep understanding of FCA/PRA pricing requirements.