Protection Pricing Actuary - South West - 1 year fixed term contract (Part time) Remote/Hybrid - M&R TALENT LTD : Job Details

A fantastic opportunity has arisen for an experienced and qualified Protection Pricing Actuary to join a friendly, growing and progressive Insurance company in the South West.

This position would report into the CFO. Ideally, the successful applicant would be open to a 1 year fixed term contract - this can be 3-4 days per week. This role has the opportunity to become permanent.

PURPOSE OF THE POSITION

· Working with our Pricing Actuary, help lead our Protection product pricing

· To take a lead role in the development of innovative propositions

· To work with the Capital and Reporting Actuary to understand our Protection experience

· To manage risk within the risk framework of the business

· To deliver the requirements of Customer Duty

· To reinforce the company brand and support delivery of its purpose and vision

Critical Outcomes

· Product design and pricing that are profitable and marketable and meet business plans.

· Effective protection pricing philosophy documented and agreed.

· Deep level of Protection experience and the market to allow prices to be set at a sustainable level.

· Underwriting and claims handling procedures that are consistent with product design and pricing

· Delivery of outcomes that are consistent with our members’ expectations.

· Adherence to the Group’s core values and behaviours.

KEY RESPONSIBILITIES

· To work with our Pricing Actuary and lead Protection pricing to maximise (within the agreed constraints) the value generated by new business

· To work with our Pricing Actuary to review and make recommendations to propositions to improve the value generated by new business

· To represent (as agreed) the Chief Actuary and the Pricing Actuary at Proposition Governance Committee and Distribution Quality Management

· To work with the Head of Insurer Solutions to help develop reinsurance strategies for new and existing protection business

· To advise management on appropriate business quality metrics

· To liaise with IT and other departments in specifying, developing, testing, implementing and operating systems

· To liaise with our reinsurers, our proposition team, our distribution and marketing teams and other departments in specifying and developing product changes and new products

· To liaise with our underwriting and claims departments on suitable underwriting strategies and to assist them in optimising the value of underwriting

· To analyse and report to the Board on new product or distribution opportunities

· To assist analysis of potential mergers, acquisitions, and partnerships

· To peer review the output of other members of the actuarial team

· To provide insight into business planning

· To identify, escalate, manage and mitigate risks in a timely manner

OTHER RESPONSIBILITIES

· Adhere to the Financial Conduct Authority Individual Conduct Rules, and The business's Expectations

EXPERIENCE AND QUALIFICATIONS

· Must be a qualified actuary

· Must have experience of protection pricing or product development

· Prophet experience an advantage

· Must have the right to work in the UK

PERSON PROFILE

· Strong technical skills

· Ability to think logically and creatively

· Ability to apply judgement in both actuarial and business contexts

· Excellent organisation and prioritisation skills

· Effective written and verbal communication skills

· Able to work at a fast pace and manage interruptions