Pricing Actuary

  • 37126
  • Non-Life - Actuarial
  • |
  • Illinois, United States
  • |
  • Mar 30, 2020
Insurance
RESPONSIBILITIES
  • Implement and develop plans for the recalibration and documentation of pricing models in line with the agreed Group Pricing Plan.
  • Assist with the actuarial large risk review process in accordance with the Group Underwriting Guidelines.
  • Review, challenge, and enhance divisional and class Technical Pricing management information.
  • Complete detailed segmentation analysis on relevant classes to identify areas of outperformance/underperformance.
  • To assist with the input, analysis and justification to support robust challenge of the business plans for the division and assist with the documentation of the actuarial view of the plan.
  • To assist the Central Actuarial team with the maintenance of the core Actuarial data system underlying the suite of Actuarial analytical tools.
  • To build new and develop existing data models to ensure fitness for purpose and optimality of performance.
  • To investigate and lead resolution of emerging issues with underlying Actuarial data systems and models as and when these arise.
  • To ensure all Actuarial data systems and models are documented in line with departmental standards.
  • To investigate opportunities to extract data from non-standard sources as required in order to enhance pricing and portfolio management decisions for the business.
  • To integrate new data sources into the company’s data library including structuring and validation.
  • To support development of data visualisation initiatives including design, build and maintenance ensuring they meet business requirements and user needs.
  • Identify areas to use data science/engineering techniques to extract value from untapped assets.
QUALIFICATIONS
  • 4 exams through FCAS, with 4+ years of experience preferred.
  • Obtained a relevant, numerate degree with a good overall grade and good overall academic history.
  • The ability to design, implement and use database structures to ensure data is organised effectively across the environment using SQL, Powerpivot, Visual Studio.
  • Excellent IT skills, in particular, an advanced level of MS Excel, VBA, and R.
  • Experience working with Power BI, Tableau, or other data visualization software.
  • A passion for data and analytics and a good base knowledge of statistics.
  • Problem solving and effective delivery skills.
  • Desire to work collaboratively with fellow associates, both in the US and overseas, and to show commitment to exceptional delivery.
  • Experience pricing commercial casualty products is preferred.
  • Ability build effective working relationships within the team and initiate relationships with key contacts around the business.
  • To ensure clear and structured verbal and written communication.
  • To clearly and accurately document processes.
  • To identify efficiencies and process improvements within tasks assigned.
  • To demonstrate a clear understanding of the Actuarial department and the contribution of the Actuarial role within it.
  • To provide progress updates to management as required, engaging with management to agree priorities, scope and timescales of tasks.
  • To identify any obstacles to the delivery of tasks, problem solving using existing solutions and escalating any issues to management as required.
  • To work with moderate guidance and direction, ensuring delivery of own work to meet deadlines.