Pricing Actuary

Holloway Friendly Society Ltd.; United Kingdom; On-site; GBP 80,000 - GBP 100,000; Full time

Job summary

A leading insurance company in the United Kingdom is looking for a Pricing Actuary to oversee pricing methodologies and deliver new products. The ideal candidate should have at least 5 years of actuarial experience, expertise in actuarial modelling for life products, and knowledge of the UK protection market. They will be responsible for developing technical outputs, ensuring compliance with standards, and supporting the Chief Actuary. The position offers a competitive pension scheme and opportunities for professional growth.

Benefits

Company pension scheme: contribute 1%, we contribute 7%

Qualifications

• At least 5 years of actuarial experience, ideally in pricing or valuation.
• Experience in project work and responsibility for deliverables.
• Ability to report effectively to senior stakeholders.

Responsibilities

• Lead the pricing work and ensure timely delivery of all deliverables.
• Develop methodologies, assumptions, models, and outputs.
• Ensure work meets actuarial standards and governance requirements.
• Support the Chief Actuary and the wider actuarial team.

Skills

Actuarial modelling for life products

Actuarial assumption setting for life products

Software skills (e.g. Excel, VBA, R or Python)

Education

Qualified actuary or currently sitting final exam

Tools

Excel

VBA

R

Python

Job description

Summary of Area / Department focus

For the commercial success of the Society, the pricing actuary will be responsible for:

• Developing pricing methodologies, assumptions and models.
• Delivering new products to the market.
• Monitoring the experience and profitability of existing products.
• Re-pricing existing products.
• Carrying out premium reviews on reviewable products.
• Supporting other product related work, for example:
• Implementing new or updated reinsurance agreements.
• Supporting consumer duty activities.
• Developing management information for the business.
• Supporting the Chief Actuary with any other BAU (e.g. experience analysis, valuation etc), peer reviews and project work as required.

Summary of Job Purpose

The Pricing Actuary will lead the pricing work and is responsible for the timely delivery at acceptable cost and quality of all agreed deliverables. They will be responsible for:

• Agreeing a plan for pricing work with key stakeholders each year.
• Developing the methodology, assumptions, models and outputs for each deliverable, as required.
• Ensuring work meets technical actuarial standards.
• Ensuring work meets the Society’s governance requirements.
• Providing oversight and review of work (pricing, valuation & project) carried out by other team members, as required.
• Providing actuarial support to the wider actuarial team and the rest of the business as required.

Skills we’re looking for

• Actuarial modelling for life products
• Actuarial assumption setting for life products
• Software skills (e.g. Excel, VBA, R or Python)

Knowledge

• Solvency UK
• UK protection products and market
• Knowledge of income protection products a bonus but not necessary
• General understanding of reinsurance for protection business

Experience

At least 5 years of actuarial experience, including:

• Modelling for pricing or valuation work.
• Project work.
• Responsibility for deliverables.
• Reporting to senior stakeholders.

Qualifications

Either qualified or currently sitting final exam.

What we offer

• Company pension scheme, you contribute 1%, we contribute 7%