£120,000 Per Annum
Excellent Bonus and Benefits
Main Purpose of Job:
The Actuary will be responsible for developing the pricing role of the Actuarial Function for a highly reputable Lloyd’s Syndicate, working closely with the Chief Actuary and Senior Underwriters, as well as the Finance Director and other members of senior management.
This is predominantly a pricing role, but with exposure to reserving and capital modelling.
This role requires strong actuarial knowledge, organisational skills, and the capacity to develop the pricing function in line with the growth of the business.
- Building and continuing maintenance of pricing models for the Syndicate in compliance with Lloyd’s minimum standards to enable pricing of the portfolio as applicable. Development and maintenance of price and adequacy monitoring system.
- Building and maintenance of pricing models for the MGAs and delegated authority business.
- Develop data and infrastructure/systems to provide optimum pricing tools for the business including development of management information including rate change monitoring.
- Validate models at regular intervals using benchmark data, historical data & scenario generated outcomes.
- Build relationships with underwriters to be a trusted business partner.
- Provide insight into the business lines as part of the reserving and capital model processes and embed the capital model within the business.
- Provide feedback and data on pricing as part of the business planning process.
- Assist with other areas within the actuarial team as required.
?Key Personal Skills Required:
- Proven experience, 5 years+ experience in the London market, preferably with Lloyd’s experience.
- Advanced knowledge of pricing.
- Exposure to and knowledge of reserving and capital models.
- Advanced knowledge of the actuarial techniques for general insurance lines of business.
- Previous experience of working with MGA binders an advantage
- Experience in leading project work to completion. Able to formulate appropriate judgement based on actively gathering all relevant information and input and defend this judgement when challenged.
- Ability to manage priorities on multiple projects simultaneously.
- Ability to communicate with a number of stakeholders and adapt style for different stakeholders.
- Ability to manipulate and analyse data to identify trends and anomalies, working to a high level of accuracy.
- Engage with other market actuaries in order to independently challenge reserve projections, and build a good network of contacts within the market.
- Work with Financial, Compliance and Underwriting teams in the development of the Actuarial Function.
- Ensure compliance with company and other relevant standards and regulations.
- Collaboration: a strong team worker who is able to work well with others and establish strong relationships both internally and externally.
Key technical skills, knowledge and professional qualifications required:
- Member of the Institute & Faculty of Actuaries
- A detailed understanding of the Lloyd’s insurance market and the regulatory framework in which it operates
- Self-Management identifying specific activities of the role in context of the business's goals and what it's trying to achieve. Successfully directing work towards these objectives - prioritising duties, working well under pressure, and managing time effectively - demonstrating flexibility and trustworthiness
- Strong communication skills to effectively manage internal stakeholders of all levels
- Proven record of leading and delivering major initiatives and projects
- Experience of advising and participating at Committee level meetings
- Knowledge of various IT tools including, but not limited to, Excel, Access, Sequel, Word. Previous experience in Remetrica an advantage