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| » Job Details | Go Back |
| Job Title: AssistantPricingActuary/London/Excellent |
| Description |
| This role is to produce quotes and reprices accurately within deadlines to the necessary standards.
This job description sets out the responsibilities of this role with regard to that function.
Scope: The UK, Irish and off shore life insurance market
Key Responsibilities:Ensure the timely production of accurate reinsurance quotes for clients;To understand the products and objectives of our clients to formulate appropriate advice; Understand clients’ products and objectives, to formulate appropriate advice; Maintain and develop our clients pricing methods; Assist the Pricing Actuary in developing the capabilities of other members of the pricing team; Contribute to our clients goal of being a leading individual life mortality and morbidity reinsurer in all markets in which it operates; Help clients achieve their goals in respect of underwriting and reinsurance matters;Participate in our clients marketing efforts in all business.
Specific Responsibilities
Pricing: Production of reinsurance quotes accurately according to quotes process; Develop a specific understanding of the pricing of each client; To develop a good understanding of each client and its mode of pricing e.g. plans, requirements, personnel, type of market, strategy and future vision; Contribute to winning business in a format that is profitable to our client, which can be administered by our client and does not cause foreseeable difficulties for our client; Keep abreast of industry trends and developments pertaining to pricing; Maintain professional and technical knowledge by attending workshops, reviewing professional publications, establishing personal networks and participating in professional societies; Assist in special projects and research and development as required by Pricing Actuary.
Reinsurance: Develop a good knowledge of the UK and Irish life insurance market; Develop a thorough understanding of UK and Irish reinsurance practices; Become familiar with specific treaty practices required to manage and handle quotes, and assist in drafting reinsurance treaties.
Technical: Develop a thorough understanding of our clients pricing standards and philosophy; Develop an understanding of the actuarial modelling systems used by our client and contribute to ongoing development and maintenance of pricing models; Develop a thorough understanding of Microsoft Excel and Access; Develop an understanding of UK and US GAAP reporting methods as required for pricing; Meet all requirements for continuing professional development; Act as quotes manager for individual pricing projects.
Interactions: Reporting to the Pricing Actuary; Work closely with other members of the pricing and marketing teams; Work closely with underwriting and claims teams when responding to client tenders, and with other departments to enable them to administer treaties won; Maintain close contact with other actuaries; Develop links with other entities in the group of companies and utilise the international network of resources; Develop good personal and business relationships with actuarial staff of all target life insurance companies in the UK and Irish markets; Maintain effective communication throughout;Contribute to the team building spirit within the company.
Skills: Strong IT skills with a good understanding of MS Office 2003 & XP Professional, particularly in Excel and Access; Capability of leading quote process for individual quote;Ability to analyze quote including, self consistency, comparison to other quotes and market positioning; Effective interpersonal skills; with the ability to interact with employees at all levels and across different departments; Ability to focus on priorities, targets and deadlines; Ability to plan and manage owns time and several projects at once, delivering them to agreed schedules; Proactive team player who can also work on own initiative; Ability to develop original and creative ideas to problems and develop new approaches; Ability to contribute to the team building spirit within the company
Knowledge: Good working knowledge of understanding the individual risk factors affecting our client (Mortality, Interest, Persistency etc);
Knowledge of Insurance and Reinsurance Pricing and Protection Pricing; Knowledge of the UK life reinsurance market
Experience: Nearly or newly qualified actuary with several years experience in the UK life insurance/reinsurance market, students having sat all CT exams; Experience in working with a small team of actuarial students
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| Details |
| Company: |
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| Contact Person: |
Martine Scott-Gordon |
| Job Ref: |
PR0128 |
| Hours: |
Full Time |
| Location: |
London, UK |
| Working Term: |
Permanent |
| Salary: |
£48k-£60k |
| Application Deadline: |
asap |
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