Pricing Actuary

Responsibilities

• Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to the underwriters
• Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
• Construction, review and maintenance of pricing models for varied classes of business
• Analysis of pricing model data including parameter validations
• Support for syndicate business planning process
• Production and review of pricing management information
• New business initiative analyses and independent reviews
• Investigation and utilisation of alternative data sources for parameterisation of pricing models
• Support underwriting within depth portfolio analyses and performance management
• Ensure all advice offered is in line with TAS requirements
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Significant pricing experience in the London Market
• Qualified actuary by exams OR extensive experience
• Experience with renewables insurance as an advantage
• Highly developed mathematical / statistical knowledge in (re)insurance
• Effective communication skills and ability to translate complex models in business terms
• Strong business acumen and interpersonal skills
• Team player and willingness to train junior members in the team
• Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment
• Knowledge of a range of modelling techniques and applications for pricing
• Current Lloyd’s market knowledge
• Willingness to continue to develop knowledge of any pricing related matters.
• Knowledge and understanding of FCA regulations and Lloyd’s standards
• Knowledge and understanding of the underlying principles of insurance and reinsurance