Actuarial Analyst

Reporting to: Lead – Technical Oversight

Department: DA & TO

Location: London (Hybrid) - 2 days in the office

Role Purpose

To support the Technical Oversight team and wider business by delivering robust actuarial pricing analysis and insight to enable competitive, accurate and sustainable pricing decisions. To contribute to actuarial pricing analysis and insight, supporting the Lead Actuary and wider business in making competitive, accurate and sustainable pricing decisions. To work effectively with stakeholders, support controlled implementation of rate/model changes providing technical input, while building experience through review and coaching from senior colleagues.

Responsibilities

• Contribute to the design, build and validation of pricing models, supporting competitive, accurate and profitable rates across insurance products (including add-ons and rating variables).
• Support the maintenance of pricing models post-deployment, including monitoring data feeds, ongoing analysis and production of ad hoc MI with investigation of performance or data-quality issues.
• Prepare and maintain pricing documentation, including model descriptions, assumptions, methodologies and controls, in line with agreed standards.
• Deliver regular pricing, portfolio and planning reports aligned with programme governance according to requests from the Lead Actuary and Line 2.
• Support the setting and review of pricing assumptions (e.g. inflation, expenses).
• Implement the pricing models within the pricing engine and decisioning systems.
• Assist in monitoring model performance, drift and stability post-deployment.
• Contribute to enhancement of pricing tools and decisioning models used in digital journeys.
• Monitor key pricing metrics, including conversion, loss ratio and portfolio performance.
• Participate in end-to-end testing (SIT, UAT) of pricing engine systems ensuring requirements are met for pricing rules and outputs.
• Validate consistency between model outputs, pricing engine logic/outputs and customer-facing pricing.
• Monitor pricing engine performance to ensure latency SLAs are met and report any degradation.
• Identify and resolve issues across data pipelines, pricing engine and reporting outputs.
• Support development of pricing transparency and explainability documents for governance and regulatory purposes.
• Assist automating the direct insurance reporting processes with Data and IT teams.
• Assist with fair value and customer outcome monitoring, and produce pricing transparency and explainability documents for governance and regulatory purposes.
• Analyse unstructured data sources from separate sources to provide insight, communicate findings and ensure adequate audit control.
• Pioneer the use of AI, copilot, or Claude in assisting for coding and model development.
• Support delivery of agreed pricing and portfolio reporting, including: Rate and pricing performance monitoring, Aggregate exposure and Nat Cat monitoring, Regulatory reporting support (as required), Fair value and customer outcome MI.

Skills and Competencies

• Degree (or equivalent) in a numerate subject (e.g., mathematics, statistics, economics, physics).
• Strong analytical and problem-solving skills, including the ability to interpret results and sense-check outputs.
• Working knowledge of insurance products and markets, with a foundational understanding of pricing and risk.
• Experience manipulating and analysing data using spreadsheets and/or analytical tools (e.g., Excel, SQL, R, Power BI).
• Experience building, validating, or documenting models (e.g., pricing, reserving, capital, forecasting).
• Good understanding of statistical concepts (e.g., distributions, regression, time series, sampling) and how they apply to real-world data.
• Team player - Demonstrates flexibility and empathy and takes responsibility as required in an innovative programme environment.
• Delivering Results - Demonstrates commitment to the identified results, meets deadlines, is motivated and has a “can do” approach.
• Regulatory & Compliance - Demonstrates an awareness of the regulatory environment and implements regulatory and compliance requirements as appropriate.
• Proactivity & Initiative - Uses initiative, shares ideas and suggests improvements, constructively challenges the status quo.
• Accuracy - Demonstrates diligence and attention to detail to ensure thoroughness and accuracy in tasks.

What you’ll receive from us

• A visible and strategic position in a growing, governance-critical function.
• The chance to help shape a new oversight capability with real influence.
• A supportive and collaborative team culture.
• Career development and exposure to senior decision-makers.
• Hybrid working.
• Life insurance.
• Private medical cover.
• Volunteering days.