About the role:
The role holder will be a member of the Longevity pricing team and part of the wider Pricing division.
The team is responsible for delivery of quotes (which includes both production of data/Biometric analysis and Pricing deliverables); inputting in to deal executions; supporting client requests; monitoring of experience on inforce treaties for reporting purposes; supporting the Basis development team in the review of assumptions for both existing and new propositions; and supporting the Infrastructure and Tools team with continued improvement and maintenance of our tools and processes. Where appropriate the team will also support the commercial team on other related activities.
The wider division also covers Pricing for Protection and Structured reinsurance. Where there is appetite we would look to offer future opportunities to get exposure to the other lines of business as well.
Your job:
- Develop technical knowledge and expertise relevant to reinsurance pricing.· Draft written reports and documentation for results and methods employed.· Responsible for delivering accurate and timely work as part of a team working together towards deadlines.·
- Help deliver quotes and projects which includes accurate manipulation of data and production of experience analysis, setting of appropriate Pricing assumptions and producing metrics to help negotiate commercial terms
- Help produce important metrics and analysis to support commercial negotiations both internally with key stakeholders and externally with clients.·
- Develop relationships with the commercial teams and construct an important branch wide network of contacts.
- Represent the team and communicate results to senior management and other departments.
- Contribute to the team's on-going drive to ensure we are the most efficient we can be by proposing and supporting improvements to Pricing tools and process' and embracing new technology.·
- Help with the development and review of the Pricing basis and assumptions.· Where required assist the commercial teams on their activities.·
- Input into team discussions on non-technical topics (including people and culture) and show an interest in branch wide initiatives.·
- Develop an understanding of the UK life insurance and Longevity market.
Competencies:
Nimble learning (we think big) – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.
Collaborates (we lead the ‘we’) – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.
Optimises work processes (we grow with our clients) – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.
Resourcefulness (we care and dare) – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.
Communicates effectively (we are clear and authentic) – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way.
Your profile:
- Relevant knowledge or experience of the UK life insurance market, or relevant pensions knowledge.·
- Knowledge or experience of Pricing processes including production of experience analysis, assumptions setting and modelling methodology is desirable.·
- Demonstrates a strong ability to quickly understand new concepts and technical topics, and to communicate them clearly and collaboratively with colleagues across diverse backgrounds
- Good numerical skills with a willingness to offer judgement calls where there is uncertainty.·
- Confidence and diplomacy to challenge peers and manage upwards.·
- A team player who can adapt and work effectively with different people across the branch.
- Strong computer literacy, particularly in Microsoft Excel & Word skills but also experience with R, Python, Basic VBA or similar programming.
- Experience with Power BI is desirable.
Qualifications and Educational Requirements:
- University graduate or equivalent
- Commitment to train towards Actuarial qualification for which the Company will provide support
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
