Pricing Actuary Expert

3 weeks ago


London, United Kingdom cer Financial Ltd Full time
Role Overview

Cer Financial Ltd is seeking an experienced Senior Pricing Actuary to join their team on a permanent basis. The ideal candidate will have expertise in commercial insurance pricing, with a strong understanding of FCA/PRA pricing requirements.

Job Description
  • Carry out pricing calibrations, provide challenge and oversight of pricing models, model governance, pricing strategy, processes, and compliance.
  • Assess the need for external pricing software support and work closely with IT to improve existing systems and embed pricing changes.
  • Act as the company's pricing/data expert reference point.
  • Nurture and develop a near-qualified actuary in the Underwriting Management team to assist in pricing work.
Responsibilities

The successful Senior Pricing Actuary will be responsible for:

  • Building upon and extending the existing infrastructure to implement cutting-edge pricing and analytics practices throughout the commercial business in accordance with the company's pricing framework.
  • Reviewing pricing structures and recommending changes based on analysis of performance across different customer segments.
  • Reviewing external and internal data sources for value to insurance pricing and making recommendations.
  • Designing and implementing pricing tests to understand customer behavior like elasticity.
  • Creating actionable insights and helping the company continuously improve pricing structure.
  • Supporting the Chief Underwriting Officer (CUO) in setting product-level benchmark prices, underwriting, and reinsurance strategies from a pricing perspective.
  • Supporting new products pricing and product fair value assessment reviews.
  • Translating complex analysis to non-technical audiences, focusing on material financial impacts of key modeling.
  • Owning pricing risk governance with relevant regular reports and ensuring embedding of pricing controls.
  • Communicating results and preparing pricing regulatory returns and management information across the Underwriting and Product Management Committees.
Requirements

To be considered for this role, you should have:

  • A numerate degree such as Mathematics, Engineering, or Economics, or equivalent.
  • 5+ years of experience in commercial insurance pricing, with personal lines pricing considered a plus.
  • Qualified or partly qualified actuary status.
  • Able to code in Python or similar languages.
  • Prior experience with any programming language, including SAS, SQL, Big Query, or similar.
  • 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.
Estimated Salary Range: £80,000 - £90,000 per annum

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