Title: Actuarial Analyst
Location: London/ hyrbid
Salary: Competitve

About the role:

To assist the Lead Actuary in Bermuda in the provision of actuarial pricing support, working closely with the underwriting teams in London & Bermuda and support other Group functions in respect of pricing, business planning and other actuarial related activity as required.

Principal Accountabilities:

Pricing and Business Planning

To assist with and undertake the provision of actuarial pricing support to SVP underwriters in Bermuda and ensure there is an appropriate level of actuarial peer review.
To assist with and undertake development of existing and new exposure and experience rating models using actuarial tools and techniques to quantify and evaluate risk factors in order to analyse the profitability of risks within the division.
To collate data and undertake appropriate research, including analysis of market statistics, in order to assist the Bermuda underwriting teams (re-)parameterisation of the pricing models developed, including benchmarking the models to the commercial marketplace.
To collaborate with risk aggregation and exposure management teams to ensure natural catastrophe and non-natural catastrophe risks are appropriately considered in pricing methodologies and assist with creating an efficient pricing and underwriting workflow.
To assist with and undertake detailed segmentation analysis on relevant classes to identify areas of outperformance/underperformance and help inform underwriting decisions.
To assist with and undertake the input, analysis and justification required for the actuarial review of the business plan.

Group

To provide contribution to Group-wide key underwriting capability projects relating to pricing, or insurance risk parameterisation and any strategic initiatives as directed by Actuarial management.
To provide contribution to the wider Actuarial team via input and insight to pricing or insurance risk parameterisation activities and departmental meetings.
To have a detailed understanding of each line of business written within the relevant divisions.

Regulatory Conduct Rules

Act with integrity.
Act with due skill, care and diligence.
Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
Pay due regard to the interests of customers and treat them fairly.
Observe proper standards of market conduct
Act to deliver good outcomes for retail customers.

Education, Qualifications, Knowledge, Skills and Experience

Commenced the actuarial exams, with a willingness to complete the full FIA qualification.
Obtained a relevant, numerate degree (or equivalent) with a high overall grade and good overall educational passes at GCSE and A-Level (or equivalent).
Experience of working in an analytical role at a P&C reinsurer or reinsurance broker is preferable.
Excellent IT skills, in particular an advanced level of MS Excel. VBA, SQL, Python or similar coding experience is desirable.

The incumbent must also demonstrate the skills and ability:

To effectively manage own time to deliver individual and group wide objectives.
To ensure effective and professional written and verbal communication across all areas of work, encouraging open discussion and contribution from others.
To establish and maintain effective working relationships with the Bermudian underwriters, across the Actuarial division and across other internal departments.
To identify efficiencies and process improvements within tasks assigned.
To identify any obstacles to the delivery of tasks, problem solving using existing solutions and escalating any issues to management as required.