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- Tasks: Lead the Pricing function and optimise pricing strategies for new business.
- Company: Pension Insurance Corporation, dedicated to secure retirement incomes.
- Benefits: Competitive salary, performance bonuses, private medical insurance, and generous leave.
- Why this job: Make a real impact in the finance sector while leading innovative pricing strategies.
- Qualifications: Qualified actuary with extensive experience in corporate insurance or consulting.
- Other info: Join a dynamic team with opportunities for professional growth and development.
The predicted salary is between 72000 - 108000 £ per year.
Governing secure retirement incomes through comprehensive risk management and excellence in asset and liability management, Pension Insurance Corporation (PIC) provides exceptional customer service. The company's purpose is to pay the pensions of its current and future policyholders.
Accountabilities
- Lead and manage the Pricing function of the new business Origination Team, liaising with Finance, ALM, Risk and other relevant teams to set general strategy and improve pricing-related processes.
- Support deal teams on their pricing approach and identify optimal pricing for prospects with non-standard aspects, driving optimisation of PIC's new business pricing approach to increase new business written and enhance transaction economics on a risk-adjusted basis.
- Lead on key Origination deals or projects involving unusual features, new structures or new products.
- Elevate talent to develop and enhance both technical and non-technical skills required to deliver a strong Pricing function.
- Champion and drive enhancements and required updates to the New Business Pricing Model, implemented by the ALM team.
- Oversee our panel of third-party actuarial firms providing pricing support and cash-flow provision.
- Provide MI reports and governance-related requirements to senior committees (Pricing Committee, Models and Assumptions Committee, Investment and Origination Committee and Board).
- Keep self and team informed of industry trends, market developments, regulatory changes and best practices related to new business.
Experience
- Qualified actuary with demonstrated post-qualification experience.
- Extensive experience in corporate insurance or consulting, primarily in life insurance or UK pensions consulting.
- Ideal/desirable: familiarity with the technical aspects of longevity risk and its reinsurance (longevity swap and funded reinsurance).
Knowledge
- Detailed understanding of actuarial and wider aspects of pricing BPA (Bulk Purchase Annuity) business.
- Strong technical knowledge of Solvency UK reserving and capital calculation.
- Strong technical knowledge of UK pension scheme benefit structures and valuation approaches (ideally).
- Established knowledge of the regulatory framework as it applies to the company, and to Origination/new business pricing specifically.
- Skilled MS Excel user; additional modelling tools such as MATLAB are helpful.
- Good working knowledge of MS PowerPoint, MS Word.
- Familiarity with Power BI suite (ideally).
Skills
- Exceptional interpersonal skills and the ability to communicate and influence across all seniority levels, up to Board.
- Ability to identify and implement change opportunities, steering through required governance paths.
- Effective people leader.
- Expert business and report writing skills, including for papers that may be seen by the PRA.
- Ability to conceptualise and lead others in solving specific problems.
- Strategic and innovative thinker with exceptional commercial judgement.
- Entrepreneurial focus.
Benefits
- Competitive base salary, annual performance-related bonus plan, private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and more.
Seniority level: Director
Employment type: Full-time
Job function: Finance
Head of Pricing in London employer: Pension Insurance Corporation plc
Contact Detail:
Pension Insurance Corporation plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Pricing in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, especially those who work at Pension Insurance Corporation or similar firms. A friendly chat can open doors and give you insights that might just help you land that Head of Pricing role.
✨Tip Number 2
Prepare for the interview by brushing up on your technical knowledge. Make sure you can discuss longevity risk, pricing strategies, and regulatory frameworks confidently. We want you to shine when it comes to showcasing your expertise!
✨Tip Number 3
Showcase your leadership skills! Be ready to share examples of how you've elevated talent and driven change in previous roles. We love candidates who can inspire and lead teams effectively, so let that shine through.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, we’re always on the lookout for passionate individuals who align with our mission.
We think you need these skills to ace Head of Pricing in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV speaks directly to the job description. Highlight your experience in pricing, risk management, and any relevant actuarial qualifications. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for the Head of Pricing role. Share specific examples of your achievements and how they relate to the responsibilities outlined in the job description.
Showcase Your Technical Skills: Don’t forget to mention your technical skills, especially in MS Excel and any modelling tools you’re familiar with. We love seeing candidates who can demonstrate their expertise in pricing and actuarial work!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Pension Insurance Corporation plc
✨Know Your Numbers
As a Head of Pricing, you'll need to demonstrate your strong technical knowledge. Brush up on key metrics related to pricing BPA business and be ready to discuss how you would approach pricing strategies in different scenarios. Show them you can crunch the numbers and make informed decisions!
✨Showcase Your Leadership Skills
This role requires effective people leadership. Prepare examples of how you've elevated talent in previous roles. Think about specific instances where you’ve led teams through change or developed skills within your team. They want to see that you can inspire and guide others.
✨Stay Current with Industry Trends
Make sure you're up-to-date with the latest trends in the insurance and pensions sector. Be ready to discuss recent regulatory changes or market developments that could impact pricing strategies. This shows your commitment to staying informed and your ability to adapt to changes.
✨Communicate with Confidence
Exceptional interpersonal skills are a must for this position. Practice articulating your thoughts clearly and confidently. Prepare to discuss complex topics in a way that’s easy to understand, as you’ll need to influence stakeholders at all levels, including the Board.
