Lead Pricing Actuary

  • 39139
  • Non-Life - Actuarial
  • |
  • England
  • |
  • Feb 18, 2021
Insurance
RESPONSIBILITIES
  • Provide pricing support to the team; pricing support includes
  • Developing pricing tools that support the estimation of price adequacy and rate change
  • Performing portfolio and transactional pricing analyses
  • Performing segmental and trend analyses
  • Performance monitoring
  • Interpreting analysis and processing data from a variety of external sources
  • Provide pricing and analytics support to other stakeholders where required
  • Develop, maintain and review pricing models to the required standards
  • Produce the relevant monthly/quarterly reports required by the Underwriting Committee
  • Understand and support the underwriting controls related to pricing and the Lloyd's minimum underwriting standards
  • Understand and apply the pricing quality assurance process
  • Provide training to underwriters in pricing; this includes the benchmarking and rate change requirements
  • Work with teams to ensure the quality and appropriateness of the data used for pricing; ensure the necessary data is captured from pricing tools to enhance future pricing capabilities
  • Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
  • Assist in other projects undertaken by the actuarial team
  • Build and maintain constructive working arrangements with those groups identified as being key to your role
  • Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
  • Provide support and mentoring to the junior members of the team
  • Become a technical expert and trusted advisor for underwriters / management on pricing and related matters
  • Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
  • Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies
  • Undertake professional, technical and career development training; this includes pursuing the actuarial qualification where applicable
QUALIFICATIONS
  • University degree in Mathematics or related field
  • Actuarial Qualification
  • General commercial and financial knowledge
  • Competent user of Microsoft Excel; VBA, Access, SQL, Remetrica and R skills desirable
  • Strong analytical skills with attention to detail; accurate and numerate
  • Able to communicate effectively both verbally and in writing
  • Team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritise
  • Ability to deal with new problems and unfamiliar data sources.
  • Capable of forming sound judgement and identifying limitations in others and own analysis
  • Pricing experience; Lloyd’s / London market knowledge desirable.
  • Breadth of exposure; candidates with experience across a range of classes (i.e. from both Property and Casualty) are preferable, given the nature of the business underwritten.
  • Firm grasp of actuarial / statistical techniques used in Lloyd's / London market pricing
  • Understanding of reinsurance and capital and their impact on pricing