Pricing Compliance Manager

Somerset Bridge; Bristol; Hybrid; GBP 65,000 - 70,000; Full time

Job summary

A leading company in the insurance sector is seeking a Pricing Compliance Manager to oversee ethical pricing practices and regulatory compliance. This role involves collaborating with various stakeholders to ensure pricing strategies align with business objectives while addressing customer fairness and regulatory standards. You will need a minimum of four years' experience in pricing or compliance roles, alongside a relevant degree. The position offers hybrid working, competitive benefits, and a salary of up to £70,000.

Benefits

Hybrid working

25 days annual leave

Discretionary annual bonus

Pension scheme

Flexible working hours

Healthcare Cash Plan

Life Assurance

Cycle to Work Scheme

Qualifications

• Minimum 4 years in pricing compliance or regulatory roles.
• Degree qualified in a relevant field.
• Ability to analyze data and interpret regulations.

Responsibilities

• Ensure ethical and legal pricing practices.
• Monitor compliance with industry standards and regulations.
• Analyze data to identify pricing risks and recommend solutions.

Skills

Data analytics

Regulatory compliance

Customer advocacy

Judgement

Statistical methods

Problem-solving

Education

Degree in business studies, legal, mathematics, statistics, data science, actuarial science, physics, economics

Tools

Statistical modelling

Job description

Pricing Compliance Manager

Department: [SBL] Analytics and R&D

Employment Type: Permanent - Full Time

Location: Bristol

Compensation: £65,000 - £70,000 / year

Description

We are recruiting for a Pricing Compliance Manager to support the Head of Analytics and R&D to achieve targets & objectives of the Analytics and R&D function. The Pricing Compliance Manager will ensure that we provide good value to our customers, and that our pricing and our processes are compliant with all relevant regulations.

What you'll be responsible for:

• Ensure all pricing-related activities are conducted in an ethical and legal manner and good value to customers, with extra attention to vulnerable customers.
• Ensure compliance with all relevant regulatory requirements, industry standards, and company policies.
• Monitor and review pricing practices to identify any areas of pricing errors or non-compliance and make recommendations for corrective action.
• Design and implement controls and measures, and develop an early warning system to help identifying issues and risks early.
• Analyse and interpret data to identify potential pricing risks and propose solutions to mitigate them.
• Keep up to date with changes in insurance regulations and make necessary adjustments to pricing strategies.
• Promote data governance best practices, ensuring data integrity, quality, and security in all pricing activities.
• Understand all the data currently available; highlight concerns & propose solutions.
• Work with internal stakeholders and suppliers to explore new data enrichment opportunities (DPIA, contracts, invoices, etc.)
• Act as a subject matter expert on insurance pricing integrity and provide guidance to other team members.
• Proactively identify opportunities for process improvement and implement changes as needed.
• Collaborate with cross-functional teams, including legal, compliance, the Data and Ethics Committee, and the DPO to ensure pricing practices are in line with company policies and external regulations.
• Work with internal and external stakeholders and suppliers to deliver objectives.
• Review, organize, and summarize contracts, DPIAs, budgets and invoices, co-funds, etc.
• Support the R&A function in managing complex projects involving multiple departments and third parties.

What you'll need:

Essential:

• A minimum of 4 years in pricing, pricing compliance or regulatory compliance, data analytics, or MI/BI roles.
• Degree qualified in a relevant field (business studies, legal, mathematics, statistics, data science, actuarial science, physics, economics, or a related field).
• Ability to champion the customer’s best interests by embedding fairness and ethical thinking into pricing processes.
• Excellent judgement and confidence to challenge practices that may be technically compliant but not in the customer’s best interest.
• Ability to read, understand, interpret and replay highly technical or legal language (contracts, regulations, etc.)
• Comprehensive understanding of the motor insurance industry, its regulatory environment, and market trends.
• Capability to interpret and synthesize large and complex datasets into actionable pricing recommendations.

Desirable

• Actuarial or CII qualification
• Experience in pricing techniques, statistical modelling, and predictive analytics
• Knowledge of statistical methods and general insurance pricing methods and techniques
• Programming skills

Our Benefits:

• Hybrid working – 2 days in the office and 3 days working from home
• 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
• Discretionary annual bonus
• Pension scheme – 5% employee, 6% employer
• Flexible working – we will always consider applications for those who require less than the advertised hours
• Flexi-time
• Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs
• Electric vehicle – salary sacrifice scheme
• 100’s of exclusive retailer discounts
• Professional wellbeing, health & fitness app - Wrkit
• Enhanced parental leave, including time off for IVF appointments
• Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
• Life Assurance - 4 times your salary
• 25% Car Insurance Discount
• 20% Travel Insurance Discount
• Cycle to Work Scheme
• Employee Referral Scheme
• Community support day