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Senior Pricing Actuary
City of London / Hybrid
Permanent
Paying up to £90,000
cer Financial are working alongside a commercial insurance company who are based in the City of London. They are seeking a Senior Pricing Actuary to work with them on a permanent basis.
The responsibilities of a Senior Pricing Actuary will include:
Carry out pricing calibrations, provide challenge and oversight of pricing models, model governance, pricing strategy, processes and compliance
Assess need for external pricing software support and work closely with IT to improve existing system and embed pricing changes
Act as the companys pricing/data expert reference point
As part of the Finance team, nurture, and develop a near qualified actuary in the Underwriting Management team to assist in pricing work
Build upon and extend the existing infrastructure so that cutting edge pricing and analytics practices are implemented throughout our commercial business in accordance with the companys pricing framework
Review pricing structure and recommend changes based on analysis of performance of different customer segments.
Review external and internal data sources for value to insurance pricing and make recommendations.
Design and Implement Pricing tests to understand customer behaviour like elasticity.
Build and run regular reports/dashboards that highlights performance by different segments. Create actionable insights and help the company to continuously improve pricing structure.
Support the CUO in setting product level benchmark prices, underwriting and reinsurance strategies from a pricing perspective
Support new products pricing and product fair value assessment reviews
Translate complex analysis to non-technical audiences, concentrating on material financial impacts of key modelling
Own pricing risk governance with relevant regular reports and ensuring embedding of pricing controls
Communicate results and prepare pricing regulatory returns and MI across the Underwriting and Product Management Committees
The successful Senior Pricing Actuary will have:
2.1 or higher in a numerate degree such as Mathematics, Engineering or Economics (or equivalent).
5+ years experience in commercial insurance pricing. Personal lines pricing considered a plus
Qualified or partly qualified actuary
Able to code in Python or similar languages
Has prior experience with any programming language (SAS, SQL, Big Query or a similar language) is preferred
Good Excel Skills and ability to set up basic business models.
Experience in setting and embedding pricing controls and dealing with complex data and ambiguity
Good commercial sense, with a deep understanding of FCA/PRA pricing requirements.
