Pricing and Underwriting Actuary

3 weeks ago


United Kingdom Utmost International Full time
Job Details: Pricing and Underwriting Actuary

This is a role for a candidate with bulk annuity experience and strong communication skills to help develop a Bulk Purchase Annuity (BPA) business within a growing and ambitious Life Insurer. The individual will need to help the team build bulk annuity capability and implement new business, working closely with the Executive Committee, Board and wider Utmost Group.

Responsibilities:
To work independently as a senior member of the Actuarial / BPA team undertaking a variety of different tasks to enable the department to meet its objectives as agreed including:
  • Developing and Maintaining pricing bases and pricing models for annuity business, including bulk annuities that adhere to our risk tolerances and are scalable for future growth
  • Supporting business development and relationship management (meeting with clients, managing pipeline etc.)
  • Managing stakeholders and ensuring compliance with risk governance
  • Keeping abreast of industry issues and developments to ensure the business processes and strategies are in line with the industry
  • Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business
  • Ad hoc tasks as required
  • Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards
  • Notify the regulator(s) of matters reasonably expected to be notified.

Core Competencies:
  • Strong knowledge of UK Defined Benefit Pensions and reinsurance structures
  • Understanding of the DB buy-in/buyout market and actuarial concepts related to bulk annuity pricing
  • Strong communication skills (able to communicate technical issues to senior people including non-actuaries)

Experience and Qualifications:
  • Qualified Actuary
  • 10 years’ experience pricing annuity and/or BPA business
  • Experience of working within pensions or similar role with an insurer
  • Experience of bulk annuity modelling and pricing
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