Chief Pricing Actuary

Title:

Chief Pricing Actuary

Company:

Everest Advisors (UK), Ltd.

Job Category:

Analytics

Job Description:

Everest is a leading global Reinsurance and Insurance organisation with extensive product and distribution capabilities, a strong balance sheet and an innovative culture. Throughout our history, Everest has maintained its discipline and focus on creating long term value through Underwriting excellence and strong risk and Capital Management. 

Everest Global Markets (EGM) is a growing division of Everest Insurance and part of a global reinsurance group, consists of Everest Insurance (Ireland) DAC (EIID), Everest Syndicate 2786 and a number of related service companies.  Everest Insurance (Ireland), DAC is a specialty Insurance company based in Dublin, which writes a variety of specialty insurance risks across Europe, North American and Asian markets.  Everest Syndicate 2786 is a multi-line Lloyd’s syndicate managed by a third-party managing agency and is fully capitalised by Everest Reinsurance. The EGM Finance & Actuarial team provides high-profile services across EGM serving key stakeholders across EGM, Everest Insurance and the wider Everest group. 

Role Purpose:

Consistent with Everest Group and External, regulatory, requirements, lead the definition of standards and frameworks, the development and continuous improvement of pricing capabilities (models, data sources, processes, systems, MI) to enable superior underwriting risk selections across all Everest International Classes of business and geographies.

To support performance management and key decisions, leverage and continuously improve Pricing MI in relation to planning, reinsurance purchase, underwriting appetite and risk management.

Be an integral part of the management feedback loop (e.g across underwriting, Claims, Finance, actuarial and exposure management) as well as ensure alignment of priorities with group stakeholders, in particular with the Global Insurance Chief Actuary.

Key Accountabilities:

• Manage, motivate and develop a team of actuaries and analysts to perform to a high level.
• Lead pricing activities across all classes, with a focus on creating and embedding best in class pricing and risk selection tools using modern analytical techniques.
• Coordinate case pricing requests and delivery
• Understand and work in compliance with Lloyd’s and Group pricing standards
• Own (in collaboration with Group/Division) Pricing policies, standards and corresponding frameworks. Ensure peer review of pricing carried out in line with policy
• Lead actuarial projects to improve data, processes, systems, methodologies and controls and ensure that business needs are met (e.g evolving regulatory requirements or entry in new markets)
• Collaborate with Group/Division and leverage group initiatives/capabilities effectively
• Responsible for training Underwriters on actuarial methods and tools.
• Work integrally with underwriting teams on deals and participate in meetings with brokers and clients. Attend UW committees
• Quarterly and/or monthly reporting on key actuarial metrics across all lines of business.
• Regularly perform portfolio reviews to segment and analyse the book and identify trends, opportunities or concerns, and support the Planning process
• Provide counsel/support to senior manager (executive leaders, head of classes of business) in managing portfolio, planning, performance reviews, setting targets.
• Ensure strong collaboration exists between functions, Reserving, Finance underwriting and all Business Management functions.
• Collaborate with Reserving to integrate Pricing data and perspectives into reserving processes and assumptions and vice versa.
• Awareness of competitor activity and performance, able to spot trends in the market and communicate impact. Keep on top of market issues and provide thematic reports as required
• Ensure the pricing function is applying generally accepted actuarial principles and methods and is complying with all regulatory and risk management policies and practices.
• Responsible for team training

Professional Experience:

• Qualified Actuary, holding membership of a recognised actuarial association.
• Strong actuarial pricing experience across a number of lines of business with a history of working collaboratively with Underwriting teams to improve performance.
• Skilled in implementing best practice pricing standards.
• Proven ability to operate effectively at all levels and gain the trust and confidence of colleagues and senior management.

Skills & Abilities:

• Excellent senior stakeholder management and influencing skills.
• Good business judgement; an ability to solve complex issues with pragmatic solutions.
• A strategic thinker who can contribute to the development of a broader vision; yet, is able to roll up sleeves to execute the strategy.
• A team builder who fosters open dialogue and collaboration. A change agent who will encourage new approaches and will challenge the status quo in a respectful manner.
• An innovative thinker; will identify opportunities to anticipate and respond to regulatory changes as well as identify opportunities to differentiate pricing and risk assessment compared to peers.
• Able to critically review and analyse processes, controls and data.
• Able to simplify, analyse and explain complex issues.
• Able to manage projects, meet deadlines and prioritise.

Competencies:

The role holder will be required to embrace the Everest Core Values: Respect everyone; Pursue Better; Lead by example; Own our outcomes; Win together.

The Everest Core Values are the foundation upon which we (a) conduct our work, and (b) conduct ourselves both internally with our colleagues, and externally with clients/customers.

The Company's success and that of our employees begins with these values. All employees are expected to support and exhibit these values in their interactions with others and through their day-to-day responsibilities.

Type:

Regular

Time Type:

Full time

Primary Location:

London

Additional Locations:

N/A