Johannesburg: Single Risk Pricing Actuary posted by Hire Resolve

About the Role

Hire Resolve’s Client in the Reinsurance space is looking for a Pricing Actuary to join their single risk pricing team in Johannesburg. This role provides an opportunity to work within a diverse and growing pricing team who oversee a global book of business covering Property, Energy, Construction, Cyber, War & Terrorism, Marine (Hull, Cargo, & Shipbuilding), and Fine Art & Specie. The ideal candidate will have the chance to broaden their knowledge and take the next step in their career.

Key Responsibilities

• Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
• Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
• Actively build relationship with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
• Analyse and pricing of individual short tail single-risk accounts typically with complex features or high premium.
• Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adheres to appropriate pricing review process as defined in Specialty Insurance Pricing Guidelines.
• Provide pricing assistance to Reinsurance Treaty Team during busy periods (such as the 01-Jan renewal season) on various markets.
• Contribute and manage the annual planning (profitability) review of portfolio (deep-dive) by considering combined ratios, rate levels, inflationary effects, and class of business mix for Specialty Insurance (including SCOR Syndicate).
• Manage and contribute to the annual capital model parametrisation process (Underwriting / Premium Risk), which is concluded in conjunction with Group Risk Management, Capital Modelling Team, and Underwriters.
• Development and maintenance of dashboards and various management information.
• Contribute to various regulatory tasks such as the Lloyds Performance Management Data Return (PMDR), and board reports.
• Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
• Any other ad-hoc reporting requirements.

Requirements

• Pricing experience in P&C insurance is compulsory (if possible on large corporate risk or London Market).
• Working knowledge of pricing ,capital modelling and reserving processes and techniques.
• Strong analytical skills and ability to manipulate or handle large datasets.
• Experience using R, Python, R-Shiny, or any other programming languages in commercial environment desirable but not compulsory.

Qualifications

• Required experience & competencies:
• Nearly / Newly qualified actuary from a recognised actuarial organisation.
• Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.).
• Personal Competencies:
• Highly motivated and driven individual with excellent analytical and problem-solving skills.
• Effective communication and collaboration skills with excellent interpersonal verbal and written skills that enables the candidate to communicate with colleagues from non-actuarial team.
• Strong organisational and time management skills required.
• Self-starting individual and excellent team player.
• Stays up to date with new/emerging knowledge in actuarial pricing as well as in respect of major market and underwriting related issues.
• Has a commercial outlook but with a principled stand where required and contributes to create viable and innovative solutions that outperform competitors and differentiates SCOR.

Salary & Benefits

No information is available.