Pricing Actuary

2 days ago


London, Greater London, United Kingdom Munich Re Syndicate Full time

About Munich Re Specialty Group

Munich Re Specialty Group is a leading provider of specialty insurance solutions, dedicated to delivering exceptional service and expertise to our clients. Our team of professionals is passionate about leveraging individuality and intellectual curiosity to drive innovation and success.

Our Culture

We believe that a diverse and inclusive culture is essential to our success. We empower our employees to make an impact and provide a platform for them to express their unique perspectives and ideas. Our goal is to create a strong and inclusive culture where everyone feels valued and respected.

About the Role

We are seeking a highly skilled Pricing Actuary to join our team. As a Pricing Actuary, you will be responsible for working independently on individual pricing assessments of large risks and binder reviews. You will also support the pricing team in achieving high standards, including technical rating of all risks and regular monitoring of delegated underwriting contracts.

Key Responsibilities

  • Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to underwriters
  • Support pricing team in achieving 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 processes
  • Production and review of pricing management information
  • New business initiative analyses and independent reviews
  • Investigation and utilization of alternative data sources for parameterization 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

Requirements

  • Qualified actuary by exams or extensive experience
  • Experience with Cyber 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 judgments within a business environment
  • Knowledge of a range of modeling techniques and applications for pricing
  • Willingness to continue to develop knowledge of any pricing-related matters
  • Knowledge of FCA regulations and understanding of the underlying principles of insurance and reinsurance

Your Career with Us

We offer a competitive salary and a benefits package that promotes wellbeing and work-life balance, including a non-contributory pension, private medical care, life assurance, and more. Our team is passionate about supporting your career development and providing opportunities for growth and advancement.


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