Job DescriptionThe RoleYou will be exposed to the full range of pricing activities at a major international global specialty (re) insurer, including working closely with underwriters to price multi-million-dollar commercial insurance deals, determining rates for a diverse range of (re)insurance products and finding and analysing new sources of data to increase the accuracy of forecasts and predictions. The role also offers the opportunity to work as part of an international team developing the next generation of actuarial pricing models, working in Python, SQL and Excel. You will collaborate closely with senior stakeholders and will have the opportunity to work across the functions within the Actuarial team as the business requires.
The right candidate should have at least 5 years' experience in relevant commercial insurance actuarial role with a minimum of 3 years' of pricing experience. Specialty Lines and/or Marine pricing experience a plus. They should also have excellent statistical knowledge and be a confident, engaging communicator, who can convey complex ideas in a concise way to non-specialists.
Responsibilities- Take ownership of case pricing for US classes of business, directly influencing the risk selection process and helping to deliver our ambitious underwriting goals.
- Support the development and maintenance of next generation pricing models for US business using Python, Excel, VBA, R and SQL.
- Gain a deep understanding of commercial lines insurance products, including Cyber, Professional lines and Marine.
- Research key pricing assumptions and market rates and stay apprised of broader industry trends, relaying these to colleagues in the US and globally, as required.
- Deliver training to underwriters on technical topics, to enhance understanding of the techniques and approaches that underpin the pricing process.
- Update Pricing Model parameters on a regular basis while adding enhancements for improved accuracy and process efficiency wherever possible.
- Proactively communicate findings and recommendations to business partners in a manner that is understandable and actionable.
- Assist other teams in the Actuarial Function where resource is required and to help gain a breadth of knowledge and skills.
Skills and Qualifications- 5-8+ years of actuarial experience with demonstrated analytic skills and a proven record of success closely aligned with supporting a business.
- FCAS, but related experience considered in lieu of actuarial credentials. We will consider filling this role as part of our actuarial student program for a qualified Associate meeting requirements for entry into the program.
- Experience in pricing P&C commercial lines including experience using statistical modelling techniques.
- Ability to explain complex technical concepts to non-specialists.
- Strong understanding of P&C commercial insurance with eagerness to further develop expertise.
- Excel and/or programming skills and a strong desire to develop these further.
- Strong problem-solving skills. Ability to apply existing knowledge to a new problem to suggest solutions.
- Ability to work in a team environment including:
- Working in an organised manner, producing clear documentation and audit trails.
- Recognising the need to seek support appropriately from others in the team.
- Prioritising work and assessing feasibility of deadlines.
Salary Range: $150,000 - $187,600
