The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR (including SCOR Syndicate), focusing on Property, Construction and Specialty lines of business.

The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad-hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.

Develop, test, and maintain pricing tools

• Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team. 

• 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).

• Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web-based platforms: Underwriting Platform (UP), an internal web-based application designed to be a submission to bind tool for underwriters to write risks, and Renew, a third-party software as a service (SaaS) platform for developing and deploying Python pricing models.

• Actively build relationship with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.

Portfolio analysis, business planning, parameterisation and outwards RI pricing: 

• Development and maintenance of dashboards and various management information

Reporting: 

• Contribute to various regulatory tasks such as the Lloyd's Performance Management Data Return (PMDR)

• Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.

• Any other ad-hoc reporting requirements.

• Development and maintenance of dashboards and various management information

Projects & Consulting: 

• Provide actuarial consulting during exploration of new projects.

• Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects

Pricing and review key individual accounts:

• Analyse and pricing of individual accounts typically with complex features or high premium in UP or Xact.

• 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 SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.

Required experience & competencies

• Some work experience in the financial services industry, preferably in reinsurance/insurance with a focus on analytical and/or actuarial work, for instance the development and structuring of reinsurance products, financial instruments, and pricing tools

• Knowledge in P&C lines of business and reinsurance/insurance underwriting is an advantage

• Knowledge of Microsoft Office (Proficiency in Excel). SQL, GIS and Programming skills ideally in R or Python is a plus

• Strong analytical skills. Pro-active, hands-on mentality and can-do attitude. Self-starter and solution oriented. Flexible, can adapt according to priorities. Expertise in digital technology and Data Engineering

• Clear communicator, able to structure an argument and ability to explain complex issues in a simple way. Team player, interested in sharing knowledge and helping to develop the team.

• Strong mathematical, modelling, technical background, good knowledge in digital technology

• Skills in data science, predictive modelling & analytics, machine learning, AI, Programming skillstuarial credentials are strongly preferred. 

• English: B2 level (CECRL)

Required Education

• Excellent academic qualifications including a minimum of a bachelor's degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance. An advanced degree (master's or PhD) would be a plus.

• English: B2 level (CECRL)