Pricing Actuary in Isle of Man - Details

Pricing Actuary
Isle of Man | Full Time | Permanent | £65000 p/a

Job Description and Requirements

A large Multinational Life Assurance Company based on the Isle of Man has an immediate requirement for an International Pricing Actuary to join its expanding team.

Main function of job:
To lead the Proposition Pricing team in setting pricing policy, managing margin and identifying and implementing effective changes to propositions in order to drive increased profitability and service excellence for the International Pillar.

As a member of the Propositions team the successful candidate will contribute to the development of profitable business strategy and proposition for the International Pillar.

Main accountabilities:
Use price and product design to optimise the New Business Value of the International Pillar:
set the pricing policy and parameters for all the International Pillar insurance contracts
manage the profitability of all the International Pillar products in key markets ensuring that product developments meet Life Actuarial guidelines
ensure the International Pillar pricing strategy complies with Group, Global Life, regulatory and professional standards
oversight of but not responsible for the production of NBM and NBV reporting
liaise with the Chief Life Actuary of relevant legal entities to agree on the statutory reserving bases and profit testing assumptions for current and prospective new business
responsible for the use of special offers and initiatives aimed at customers or distributors which impact NBM, NBV
advise the Propositions team and other senior management on the key drivers, opportunities and risks in the management of profitability and margin for the International Pillar
provide Pricing support to the International Corporate Unit

Re-insurance arrangements:
responsible for reinsurance placement and ensuring the reinsurance arrangement complies with Group, company and regulatory requirements

People Management and Relationships:
motivate, coach and develop the Proposition Pricing team to maximise its potential


Competencies / skills:

technical job related
qualified Actuary with at least 3 years&x2019; post qualification experience
demonstrate a wide range of direct life insurance and reinsurance industry experience, ideally gained with international insurance companies
extensive actuarial experience in reinsurance, pricing, and dealing with marketing and distribution areas
sound understanding of financial management in the life insurance industry and the mechanisms to reduce risk and deliver a stream of quality earnings to shareholders
sound understanding of distribution and clients&x2019; requirements
sound knowledge of regulations in key markets


Behavioural person related
highly numerical
commercial / pragmatic mindset
good communicator - verbal and written
strong people management experience
excellent Excel skills
problem solving - particularly &x201C;thinking outside the box&x201D;
can explain complex issues to non-technicians
negotiation experience - particularly with sales and large external distributors

Salary: £45-65k per annum plus £5k relocation package

Benefits: Commensurate with a Multinational Company

Keywords

Start Date

09/03/2010