Reporting to the Global Head of Pricing, your primary role is to represent Global Pricing on the referral team. This involves determining the official opinion of the Pricing Function on deals referred to the global level and working with the Risk Function to form a business acceptance view.
The Global Pricing team are responsible for all pricing activities within the business acceptance function. We provide support and controls to the pricing actuaries of our macro-market entities. The team’s responsibilities include setting pricing and assumption methodology, sharing expertise, ensuring good practices and quality controls and supporting wider divisional strategy. Global Pricing work closely with Risk and Underwriting contributing to Business Acceptance decisions.
We are responsible for the review of larger and more complex transactions that exceed local authorities.
Global Pricing, in consultation with other departments, determine the pricing methodology to be used around the division, in order to appropriately determine the value brought to us by the deals being priced around the globe. The role holder will participate the development of the pricing methodology.
Key duties and responsibilities:
As a Pricing Actuary, you will responsible for the following tasks:
• Participate in the organization and optimization of the Global Referral process, in coordination with Risk Management. The Global pricing team scope is worldwide and offers diversity in terms of insurance products, markets and risks.
• Form the official pricing opinion of the Pricing Function on Global referrals. Technical tasks involved are:
– Review of Best Estimate assumptions, with the support of R&D Knowledge teams, if required
– Review of Modelling, KPIs and capital calculations, making sure deal structuring is adequately reflected.
– Ensure appropriate understanding and communication of the expert judgement decisions taken when evaluating the deal
– Deal documentation should describe best estimate, tools and processes used, expert judgement and sign off process.
– Technical support for more complex, non-standard deals.
• Collaborate with all stakeholders to ensure the wider business acceptance implications of writing a new deal are fully considered and communicated when material.
• Lead the pricing workstream when involved in a cross review of the business acceptance process of a local entity.
• Participate in the animation of the Pricing Function Community in terms of news communication, best practice sharing, know how transfer, etc. Due to its global nature and perspective, Global Pricing team is in the best position to analyse and spread original ideas within the organisation.
• Aid with regular updates of the Pricing methodology to align with strategic plans and market needs. Follow up the publication on new methodology, with support on implementation to local teams.
• From time to time, work on the derivation of best estimate guidelines with the macro markets.
Required experience & competencies:
• Relevant experience in the international Insurance/Reinsurance industry, primarily in a Pricing role
• Strong experience in RBC regulatory context(s) such as Solvency II
• Management/project management experience
• Experience of multiple markets and products would be an advantage
• Strong appetite and proven ability to work in an international context with cross-team collaboration.
Open-minded, result oriented, you work in an autonomous, organized and rigorous manner. You have proven communication skills especially in a complex context.
Please contact [email protected] or 016099404 in strictest confidence for further information.
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