Pricing Actuary
7 days ago
City of London
Job Title: Actuarial Pricing Analyst\n\nLocation: London / Hybrid 2 or 3 days per week\n\nContract: 6 months\n\nRates: up to £950p/d via Umbrella \n\nJob Description\n\nSRG are looking for a Pricing Actuary to going a Reinsurance Business Agility team is seeking an Actuarial Pricing Analyst to support the transformation of our global pricing capabilities through a new high-profile global Treaty Reinsurance Pricing Platform, based on hx Renew. The new cloud-based, fully integrated solution will allow Underwriters and Actuaries to move away from pricing on team-specific tools and enable enhanced risk decision-making through improved data aggregation, global pricing consistency and greater efficiency.\n\nReporting to the Pricing Platform Senior Product Owner, and working as part of an Agile team, the Actuarial Pricing Analyst will contribute both actuarial insights and detailed analysis to support the initial implementation and future enhancements of the pricing platform. They will lead on business engagement and carry out ideation and discovery work including customer experience and journey mapping, requirements elicitation, business analysis, process mapping, analysis and optimisation and other documentation tasks such as user story creation to ensure that the project outcomes are the ideal solution for the business. The actuarial nature of the role will also drive a focus on consolidating and optimising pricing models from across different classes of business within collaboration with Actuarial and Underwriting colleagues.\n\nDuties and Responsibilities \n\nPricing governance framework - Be responsible for the detailed analysis and requirements of pricing models in compliance with both internal and external standards\nUnderstanding the various pricing needs across product and region, and rationalising these onto the Pricing Platform with direction from the Product Owner\nPredictive analytics - Collaborate and influence the development and rollout of predictive models such as loss cost, submission triage, customer behaviour, credit etc. Practical application of more advanced techniques including GLMs (Generalised Linear Models) and GBMs (Gradient Boosting Machines) would be an advantage using Python & R\nReviewing the current pricing models, understanding the duplication in techniques, and recommending the best-in-class methods and optimal modularisation\nAnalysis of the pricing modules, layout, data flow, process flow and user experience within the platform for the different products and structures that will be priced\nPrototyping models working closely with the Actuaries and Underwriters\nConduct analysis work to a consistently high standard within a range of business areas, producing output to agreed timescales, and standards\nConduct analysis work to understand current state processes and to identify the "to be" future state operating models through process and technology\nIdentify the relationships, dependencies and impacts of change (highlighting options) on multiple systems and processes\nContribute to the project as required to develop proposals, requirements or other project documentation\nElicit further requirements and test / challenge assumptions using a variety of methods including interviews, document analysis, workshops and business process descriptions\nStakeholder management - support the Product Manager and Senior Product Owner to interact with all levels of management, obtain buy in and sign off and manage expectations\nContribute to the Business Solutions Team development of standards / methodology for capturing and publishing business processes, requirements and other documentation\nDefining and documenting epics, user stories, acceptance criteria, etc for complex solutions\nWork effectively as part of a project team alongside the Product Owners, Scrum master and delivery team\nAccurately identify and estimate deliverable efforts and commitments\nContribute to team sprint planning and set expectations for delivery of new capabilities, features, and functionalities.\nParticipate in team demos, retrospectives, and all other ceremonies.\nSupport creating and maintaining the backlog (including prioritization, and acceptance criteria). \n\nExperience and Qualifications\n\nQualified/newly qualified Actuary\nMinimum 5 years relevant work experience, ideally in P&C reinsurance pricing with both US and RoW experience\nRequires educational attainments: 2.1 or better in a numerate/scientific degree and an A / A* in A-Level Maths or equivalent\nExperience of Reinsurance (preferred) and/or Insurance technology solutions\nExperience of pricing platforms ideally hx Renew\nRequires knowledge of MS Excel (essential), VBA, MS Access, SQL\nExpertise and appreciation of actuarial techniques\nStrong interpersonal, verbal, written and presentation skills, communicating with a range of stakeholders\nDemonstrated ability to communicate both in business and technical terms\nGood knowledge of business functions, business operations, objectives and strategies\nGood knowledge of MS Excel to help with requirements gathering and demonstrating concepts\nDocumentation of management systems & workflow application experience\nGeneral knowledge of IT concepts, strategies and methodologies, including architectural and security concepts, systems development lifecycle, information management and portfolio management (production systems, release planning, change management)\nBPMN or similar business process modelling skillsGuidant, Carbon60, Lorien & SRG - The Impellam Group Portfolio are acting as an Employment Business in relation to this vacancy