The Pricing Actuary has the objective of supporting the Senior Pricing Actuary in:

• designing and pricing new products
• analysing the impact of changing existing products
• monitoring profitability of existing business

They must ensure that the business unit and group strategies are complied with and that the developments align with agreed methodologies, policies and regulations.

Responsibilities

• Managing the actuarial design of products so that it meets relevant profit criteria whilst remaining commercially attractive
• Detailed Financial evaluation of new developments and changes to existing products
• Representation on key company project teams and responsible for securing appropriate actuarial resource to deliver the project.
• Production of actuarial specifications and reports
• Input to processes like business planning and Individual Capital Assessment
• Ensure compliance with internal risk monitoring framework, correct reporting of emerging risks and rectification of issues arising.
• Monitoring and managing all actuarial risks arising out of projects assigned to and ensuring that appropriate mitigation is put in place with actions and owners identified.
• Acting to ensure that actuarial needs are clearly understood and that solutions meet the requirements and align with corporate strategic direction and policies
• Continual process improvement in terms of quality, risk, flexibility and efficiency
• Maintaining effective relationships in the Finance function, BCD and Marketing
• Provides thought leadership to requirements specification and able to respond to queries raised within project teams
• Monitoring new business profitability
• Ensuring that new product launches or changes to existing products are communicated to all parts of the Finance Team from systems to financial reporting to ensure the impacts are fully understood
• Ensuring the pricing processes adheres to regulatory requirements
• Managing reinsurance relationships consistent with the documented risk appetite and insurance risk policy.

The successful candidate will be a nearly/newly qualified Actuary with previous pricing experience.