Senior Pricing Actuary, Single Risks Pricing & Modelling

Job description

Job Summary

The work includes large account pricing, working with Underwriters and the Actuarial Methods and Insights team to develop and maintain pricing models and to provide analyses and management information reports to internal and external Stakeholders.

This role would suit a commercially minded Casualty Actuary who would like to take the next step in their career and broaden their knowledge. It provides the opportunity to work within a diverse, and growing pricing team who oversee a global book of Casualty and Financial Lines business.

Required experience & competencies
•   Experience
•   Solid understanding of basic ratemaking concepts on exposure adjustments, trend, loss development, exposure rating and experience rating.
•   Strong background in Umbrella and Excess Casualty, General Liability for all industries (inc. Energy)
•   London Market pricing experience and exposure to Directors and Officers (D&O), Errors & Omissions (E&O), Environmental Liability and other Professional Liability Lines of business is a plus.
•   7-10 years of P&C Specialty or Reinsurance pricing experience 
•   Strong problem-solving skills.
•   Ability to handle large, complex datasets.
•   Significant experience using R, Python or any other programming languages in commercial environment
•   Personal Competencies
•   Effective communication and collaboration skills with excellent interpersonal verbal and written skills that enables the candidate to communicate with colleagues from non-actuarial team.
•   Self-Starting individual and excellent team player
•   Highly motivated and driven individual with excellent analytical and problem-solving skills
•   Strong organisational and time management skills required; ability to multi-task.
•   Proactively support the team as a recognised centre of excellence for Pricing within the Specialty Insurance 
•   Stays up to date with new/emerging knowledge in actuarial pricing as well as in respect of major market and underwriting related issues. 
•   Has a commercial outlook but with a principled stand where required and contributes to create viable and innovative solutions that outperform competitors and differentiates SCOR.
Required Education and Qualification 
•   Fellow of the Casualty Actuarial Society (or any recognised actuarial organisation)
•   Degree in a quantitative discipline or related field required

Key duties and responsibilities
•   Large account pricing
•   Evaluate profitability, exposure and loss data and provide technical pricing indications for key accounts
•   Improve experience rating methodology by leveraging submission data to compile portfolio level data, establish benchmark frequency, severity selection by segment
•   Ensure that all accounts priced adheres to appropriate pricing peer review process as defined in Specialty Insurance Pricing Guidelines.
•   Develop, test, maintain and enhance pricing tools
•   Lead model design, development, evaluation, sensitivity testing and calibration studies 
•   Ensure pricing models are appropriately calibrated and used correctly by underwriters, including rate change calculation.
•   Maintenance of pricing tools including technical documentation/specifications/parameter update.
•   Portfolio Analysis, business planning and recalibration
•   Assist in studies to improve pricing methodology and predictiveness of pricing analyses.
•   Create portfolio monitoring tools to aid the monitoring of pricing adequacy by segments.
•   Contribute and manage the annual business planning review of portfolio (deep-dive) by considering combined ratios, rate levels, inflationary effects, and class of business mix for Specialty Insurance (including SCOR Syndicate).
•   Reporting and Projects
•   Lead / represent Single-Risks Pricing in various projects as and when required.
•   Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR), and board reports.
•   Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
•   Any other ad-hoc reporting requirements.