Overview

Actuarial Modelling Specialist

Permanent

Our client is looking for an Actuarial Modelling Specialist to work in their West Yorkshire office.

Ref: 1024814

  • Location: N/A
  • Category: Actuarial
  • Type: Permanent
  • Pay Range: £70k - £90k

Overview

Main Role:

  • Responsible for building and maintaining the Company’s technical risk pricing models at all stages, from data gathering and validation through to implementation, including producing clear and communicating these to senior management
  • Carry out customer and portfolio impact analyses, and provide insights to allow the Company to optimise its portfolio in line with its pricing strategy
  • Continuously review and suggest improvements to pricing models, and drive these improvements through to completion

Ideal Core Competences:

Ideally Required Competencies / Skills / Qualifications:

  • Nearly/newly qualified actuary (equivalent experience will be considered)
  • At least 4 years’ experience of actuarial work in the UK personal lines insurance market – at least 2 years of that in Household
  • Proven first-hand experience of building and maintaining technical risk pricing models for UK Household business, using generalised linear modelling techniques, and other approaches where appropriate
  • The preferred candidate would also have experience of price optimisation and consumer/demand modelling
  • Experienced user in Emblem and Radar software, or equivalent alternatives
  • Highly competent in managing large datasets including complex queries, using SAS or other equivalent software
  • Extensive knowledge of actuarial best practice and market standards in pricing
  • Strong knowledge of Microsoft Office
  • Excellent problem-solving ability – breaks down and analyses highly complex problems and uses specialised techniques to analyse and solve the problem
  • Strong communicating and influencing skills, including the ability to clearly present complex ideas both in person and through documentation
  • Good organisation and project management skills
  • Resilience to maintain high quality output under pressure both with and without support
  • Ability to successfully manage relationships internally and externally
  • A high standard of professionalism in line with required actuarial standards, both technical and ethical, is expected

Principle Responsibilities:

  • Promote and adhere to a TCF culture at all times
  • Provide actuarial recommendations and solutions in discussions with underwriters, senior management, the Company’s external capital providers and product distributors
  • Use own initiative, knowledge and experience to suggest new sources of pricing insight and test the predictiveness of these sources
  • Monitor experience against assumptions and proactively investigate new areas of interest, with and without guidance
  • Manage own contribution to the business to ensure profitability levels and service levels are met, including delivery and implementation of operational and other projects
  • Recommend and implement enhancements to existing pricing data capture and validation, and all other pricing processes, where appropriate
  • Work closely with the underwriting team in order to manage data quality, understand underwriting trends and developments, and appreciate practical constraints
  • Maintain detailed knowledge of market developments, trends in claims and customer behaviour, and actuarial best practice
  • Coach and train junior members of the team where necessary
  • Actively support the business in other activities as required, to best contribute to the delivery of the Company’s objectives

Qualifications required:

  • Nearly/newly qualified actuary (equivalent experience will be considered)

Experience required:

  • At least 4 years’ experience of actuarial work in the UK personal lines insurance market – at least 2 years of that in Household
  • Proven first-hand experience of building and maintaining technical risk pricing models for UK Household business, using generalised linear modelling techniques, and other approaches where appropriate
  • The preferred candidate would also have experience of price optimisation and consumer/demand modelling

Consultant

Michael Doherty

Associate Director – General Insurance

T: +44 (0)203 867 9863

Email me

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