Pricing Function Holder (Actuary) in London

We’re on a mission to make migration easy. We started building Marshmallow in 2017. Since then, we’ve grown from 3 to 700+ people, gained unicorn status, raised ~£140M over three funding rounds, turned profitable, insured millions of drivers and lent millions in car loans. But we’re only just getting started. Our goal is to become one of the largest financial services providers in the world. Over the next 10 years we’ll grow exponentially, not only by scaling our existing products, but also by building new ones.

To achieve our goals we need incredibly ambitious, commercially driven people who never settle for ‘good enough’. Marshmallowers are hungry for autonomy and ownership, and would rather improve than coast. Everyone raises standards and has an impact, with a focus on collective success over self-interest. We’ve created an environment where curious, tenacious people win and grow together. If that sounds motivating, this could be the place for you.

This role sits within Marshmallow’s Pricing team and offers a broad remit with meaningful ownership. As our Motor Pricing Actuary, you’ll lead pricing for our core motor insurance product while also contributing to reserving, capital modelling and key external actuarial relationships. This is an opportunity to play a central role in how Marshmallow sharpens pricing, strengthens actuarial governance and supports sustainable growth. You’ll act as the Pricing Function Holder for Marshmallow Insurance Ltd, taking accountability for the integrity and adequacy of the pricing framework and ensuring it meets relevant regulatory requirements for a Gibraltar-domiciled insurer.

You’ll work closely with teams across the business to connect technical actuarial work with real commercial outcomes. Whether you’re improving pricing models, reviewing reserve movements or supporting capital assessments, your work will help ensure Marshmallow continues to make smart, fair and data-driven decisions.

What you'll be doing:

• Own the Pricing Function Holder role for Marshmallow Insurance Ltd, taking accountability for pricing model integrity and regulatory compliance with GFSC requirements.
• Lead motor insurance pricing model development using claims analysis and market intelligence, partnering with data science and underwriting to identify rating opportunities and drive competitive improvements.
• Deliver monthly reserving analysis and Loss Ratio Forum reporting, translating complex data into clear insights that support reserve adequacy and drive methodology improvements.
• Serve as primary liaison with external actuaries and the Independent Actuarial Function Holder, coordinating regulatory oversight and ensuring recommendations are understood and actioned.
• Contribute to development and maintenance of Marshmallow's internal capital model, supporting Solvency II/ORSA processes and capital assessments.

Who are you?

You're a self-starter with strong ownership and clear accountability, comfortable operating in a fast-paced, scaling environment with technical and regulatory responsibility. You think commercially and analytically, connecting actuarial decisions to business outcomes, and move confidently between deep technical work and strategic thinking. You communicate clearly to both actuarial and non-technical audiences, build effective cross-functional relationships, and thrive on variety across pricing, reserving and capital. You're excited by the opportunity to shape actuarial practice and help drive impact in a scaling fintech.

What you’ll bring:

• Part or nearly qualified actuary (IFoA or equivalent) with a background in general insurance.
• Strong technical pricing experience in personal lines motor, with experience or familiarity in reserving and capital modelling.
• Confident with large datasets and technical tools including Python, R or SQL, with strong ability to build and assess actuarial models.
• Comfortable working in a regulated insurance environment and engaging with control-focused processes, with strong written and verbal communication skills.

Perks of the job:

• Spend three days a week with your team in our collaborative London office, and own your own working hours.
• Competitive discretionary bonus scheme - designed to reward and recognise high performance.
• Flexible benefits budget - £50 per month to spend on a Ben Mastercard meaning you get your own benefits budget to spend on things you want.
• Mental wellbeing support – Access therapy and mental health sessions through Oliva.
• Learning and development – Personal budgets for books and training courses to help you grow in your role. Plus 2 days a year - on us! - to further your skillset.
• Private health care - Enjoy all the benefits Vitality has to offer, including reduced gym memberships and discounts on smartwatches.
• Medical cash plan - To help you with the costs of dental, optical and physio (plus more!).

Our Process:

We break it up into 4 stages: Initial call with a member of our Talent Acquisition team (45 mins), A past-experience interview & competency interview (60 mins), A technical interview onsite, delving into the technical aspects of the role (2 hours), A culture interview to check that your work style fits our processes and values (60 mins). We'll let you know if you're invited to an interview or not. But, as a small team with a lot of applications to consider, we can't give individual feedback on each application.

Diversity of thought: We know the best ideas come from having different perspectives in the room - and we're committed to hiring fairly, regardless of background, identity or experience. If you see yourself in this role, we'd encourage you to apply.