Pricing Function Holder (Actuary)

About Marshmallow
We exist to make migration easy. A systemic problem of this magnitude requires a team of curious thinkers who relentlessly pursue solutions. Those who constantly challenge the why, dismantle assumptions, and always take action to build a better way. A Marshmallow career is built on a cycle of continuous growth, with learning at its core. You will be challenged to raise the bar on your capabilities and supported with the right tools and guidance to do so. This ensures you can deliver impactful work and drive change.

Pricing at Marshmallow
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.

Background checks
As part of our commitment to maintaining a safe and trustworthy environment, we’ll carry out standard background checks, including a DBS and a Cifas check. These help ensure there are no ongoing criminal proceedings and support the prevention of fraud and other forms of serious misconduct. If anything of concern is identified, it may affect your eligibility for certain roles or services. Feel free to ask our Talent Acquisition team if you have any questions about this!

Everyone belongs at Marshmallow
At Marshmallow, we want to hire people from all walks of life with the passion and skills needed to help us achieve our company mission. To do that, we're committed to hiring without judgement, prejudice or bias. We encourage everyone to apply for our open roles. Gender identity, race, ethnicity, sexual orientation, age or background does not affect how we process job applications. We're working hard to build an inclusive culture that empowers our people to do their best work, have fun and feel that they belong.

Recruitment privacy policy
We take privacy seriously here at Marshmallow. Our Recruitment privacy notice explains how we process and handle your personal data.