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Johannesburg: Single Risk Pricing Actuary posted by Hire Resolve

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Job Description

Hire Resolve’s Client in the Reinsurance space is looking for Pricing Actuary to join their single risk pricing team in Johannesburg. This role would suit a Actuarial Analyst who would like to take the next step in their career and broaden their knowledge. It provides the 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.

RESPONSIBILITIES

Test and maintain pricing tools
  • 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.

 

Pricing and review key individual accounts:

  • 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
     

Portfolio analysis, business planning, recalibration: 

  • 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. 
View Job  Cape Town: Buyer posted by Goldman Tech

Reporting: 

  • 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.

People Management: 

  • no people management at the beginning
  • possibly manage a small team of Pricing analysts and/or Cat modellers within few months after the hiring if the situation evolves well as expected.

QUALIFICATIONS

Required experience & competencies

Experience:

  • 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.

    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.

    Education

  • Nearly / Newly qualified actuary from a recognised actuarial organisation 
  • Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.) 

If you meet the above requirements and want to make a career-changing move, apply today by either filling in the online application form or emailing your CV to Hire Resolve at *****@*****.co.za
You are also welcome to contact Michaela Boustred on LinkedIn or call her on (***)***-****.
Please note that correspondence will only be conducted with shortlisted candidates for this position. Should you not hear from us within 3 days, please consider your application unsuccessful.



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