Assistant Pricing Actuary
Part Qualified/Newly Qualified
Life or Pensions experience considered
South London
£45,000 - £80,000 (depending on experience)
Company Actuarial Recruitment team has teamed up with a market leader of the auto-enrolement pensions market to recruit a part qualified/newly qualified actuary for their propositions team. This role, reporting to the Pricing Actuary offers wide ranging technical experience and commercial decision making, across the workplace pensions proposition.
Technical aspects of the role include:
* Develop & maintain effective pricing tools and a data & experience analysis capability.
* carry out regular actuarial investigations into demographic, expense and economic experience, making recommendations on long-term future experience assumptions.
* Data Science/Data Mining, by looking to include/learn new modelling techniques to gain insights into data to further enhance our pricing capabilities.
* Monitoring the effectiveness of the pricing strategy.
Commercial aspects of the role include:
* Producing quotations and supporting the pricing decisions on individual schemes and complex enquiries.
* subject matter expert articulating the economic benefits in respect of business cases and quantifying market risks and opportunities.
* assisting in research, development and implementation of proposition improvements.
You will:
* Develop and maintain the pricing tools (spreadsheet based) to assess the economic value of new and existing business, supporting pricing decisions, demonstrating a strong control environment.
* Make recommendations of the pricing basis, ensuring assumptions are regularly analysed, recommending updates on a timely basis. This will require a range of actuarial investigations, including.
* Manipulate large data sets (using tools such as SQL or R) to carry out demographic experience analysis and monitor the profile of evolving business.
* Review and challenge cost allocations, carrying out separate analysis as required to improve cost modelling capabilities.
* Demonstrating strong controls on the experience analysis, clearly setting out recommendations for future experience assumptions.
* Monitor the pricing performance, carrying out analysis to support tactical refinements to pricing as well as more strategic pricing improvements.
* Produce quotations for scheme pricing enquiries and provide actuarial support in more complex pricing enquiries and the wider application of the economic framework.
What you need to apply for this role:
* Nearly / newly qualified actuary.
* Good understanding of life & pensions business & pricing approaches.
* Practical experience of actuarial modelling.
