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Pricing Actuary

Date Posted
15th July 2014
Reference
VSR/941
Sector
General Insurance
Job Type
Permanent
Location
Zurich, Switzerland
Benefits
Salary dependant on level of experience
Salary
Negotiable

Job Description Apply: Pricing Actuary

Job content

Under the direction of the Head of TPC & Governance, you contribute to the delivery of pricing assurance through the definition and execution of a strategy in relation to pricing governance, Technical Price Certification, actuarial pricing guidelines, global pricing reviews and global profitability reviews. This role requires proven stakeholder management, coordination and influencing skills, along with a high level of expertise in pricing methodologies and processes. Experience in governance and control processes, as well as with quality assurance, would be an asset.

Your role
As a TPC & Governance Actuary your main responsibilities will involve:

Supporting the continuous improvement, communication and execution of actuarial pricing governance & guidelines, framework and best practice in relation to Technical Price (TP), target price and the delivery of business insight.
Supporting the implementation and leveraging of the TP Hub used to manage, improve and report on TP and pricing tool activities.

Developing and implementing the Pricing Authority Framework’s two pillars: (1) assessment of individual’s skills; and (2) subsequent cascading of authority, both in relation to TP Certification (TPC) and pricing tool governance.
Supporting the TPC process for global portfolios i.e. those directly in the global team’s remit, such as energy, marine cargo, engineering and non-US special lines.
Supporting the continuous development of target price standards, methodology and tools
supporting global consistency in pricing practices.
Embedding pricing governance into Group policies, and local awareness and adherence.
Formalizing the pricing review framework, identifying priorities for global pricing reviews and executing selected ones.
Supporting pricing & underwriting data requirements incl. local and global data projects, as requested.
Supporting data granularity in respect to (1) exposure and claims information capture, as well as (2) data availability and accessibility.

 

Requirements

Fully qualified actuary in a globally recognised actuarial body.
5-10 years of experience in a non-life actuarial environment.
Experience in multiple functions, cultures and business units preferred.
Collaboration and influencing skills across a range of stakeholders within and external to the actuarial function.
Self-motivation and drive to achieve and maintain best practice standards; enthusiastic and positive attitude.
Effective experience of formulating and presenting clear recommendations and business decisions to senior management.
Competent at prioritizing.
Impact, credibility, and ability to influence at business unit level.
Intermediate knowledge of actuarial professional guidance and relevant legislation & regulation.
Intermediate knowledge of finance and accounting practices, financial analysis, and reporting; ability to apply this knowledge appropriately to diverse situations.
Intermediate knowledge of the insurance industry's trends, directions, major issues, regulatory considerations and trendsetters.
Proficiency in English with a preference for proficiency in at least one other language.
Effective communication, presentation and interpersonal skills.
Understanding of the roles of pricing actuaries, market facing and product underwriting functions.
High level of influencing and negotiation skills, coupled with an ability to build relationships at all levels.
Intermediate to advanced knowledge of the techniques and concepts behind non-life insurance rating & pricing.
Intermediate to advanced knowledge of pricing governance practices, tools and techniques.

This global role will require some international travel to ensure effective stakeholder and relationship management as well as execution of global pricing reviews and support to local data projects.

 


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