Pricing Actuary - Specialty in London

The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR (including SCOR Syndicate), focusing on Property, Construction and Specialty lines of business. The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad-hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.

Responsibilities

• Develop, test, and maintain pricing tools.
• Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team.
• Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
• Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
• Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web-based platforms: Underwriting Platform (UP) and Renew.
• Actively build relationships with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
• Business planning for allocated lines within the team (company & syndicate).
• Development and maintenance of dashboards and various management information.
• Monitor emerging trends in the market across allocated lines of business.
• Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR).
• Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
• Any other ad-hoc reporting requirements.
• Provide actuarial consulting during exploration of new projects.
• Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects.
• Analyse and price individual accounts typically with complex features or high premium in UP or Xact.
• Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adhere to appropriate pricing review process as defined in SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.

Qualifications

Experience

• FIA (or FCAS) with a couple of years of Pricing experience in P&C insurance required, with Lloyd’s / London Market experience preferred.
• Casualty (e.g. General Liability, Excess Casualty/Umbrella, Environmental, Directors & Officers, Financial Institutions, Professional Lines, etc.) experience preferred.
• Strong analytical skills and ability to manipulate or handle large datasets.
• Significant experience in using MS Excel in a pricing environment required, with VBA experience preferred.
• Experience using Python or any other programming languages for predictive modeling (GLMs, ML, etc.) preferred.

Personal Competencies

• Highly motivated and driven individual with excellent analytical and problem-solving skills.
• Inclination to challenge the status quo in a pricing/actuarial environment.
• Effective communication skills with excellent interpersonal verbal and written skills.
• Strong collaboration skills including across time zones and non-actuarial disciplines.
• Strong organisational and time management skills required.
• Self-starting individual and excellent team player.

Required Education

• FIA (Fellow of the Institute and Faculty of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society).
• Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.) or equivalence.