Actuarial jobs in United Kingdom

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are currently looking for a Cyber Pricing Lead, to be based in London on a full-time basis, reporting into the Pricing Manager.

Responsibilities:

• Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to the underwriters.
• Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts.
• Construction, review and maintenance of pricing models for varied classes of business.
• Analysis of pricing model data including parameter validations.
• Support for syndicate business planning process.
• Production and review of pricing management information.
• New business initiative analyses and independent reviews.
• Investigation and utilisation of alternative data sources for parameterisation of pricing models.
• Support underwriting within depth portfolio analyses and performance management.
• Ensure all advice offered is in line with TAS requirements.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers/policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills:

• Significant pricing experience in the London Market.
• Qualified actuary by exams OR extensive experience.
• Experience with Cyber insurance as an advantage.
• Highly developed mathematical/statistical knowledge in (re)insurance.
• Effective communication skills and ability to translate complex models in business terms.
• Strong business acumen and interpersonal skills.
• Team player and willingness to train junior members in the team.
• Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment.
• Knowledge of a range of modelling techniques and applications for pricing.
• Current Lloyd’s market knowledge.
• Willingness to continue to develop knowledge of any pricing related matters.
• Knowledge and understanding of FCA regulations and Lloyd’s standards.
• Knowledge and understanding of the underlying principles of insurance and reinsurance.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!