Pricing Actuary

We’re looking for an experienced pricing actuary to lead our pricing work and play a key role in the commercial success of the Society.

You’ll take ownership of how our products are priced, reviewed and monitored, while working closely with teams across the business.

Summary ofArea / Department focus:

For the commercial success of the Society, the pricing actuary will be responsible for:

• Developing pricing methodologies, assumptions and models.
• Delivering new products to the market.
• Monitoring the experience and profitability of existing products.
• Re-pricing existing products.
• Carrying out premium reviews on reviewable products.
• Supporting other product related work, for example:
• Implementing new or updated reinsurance agreements.
• Supporting consumer duty activities.
• Developing management information for the business.
• Supporting the Chief Actuary with any other BAU (e.g. experience analysis, valuation etc), peer reviews and project work as required.

The Pricing Actuary will lead the pricing work and is responsible for the timely delivery at acceptable cost and quality of all agreed deliverables. They will be responsible for:

• Agreeing a plan for pricing work with key stakeholders each year.
• Developing the methodology, assumptions, models and outputs for each deliverable, as required.
• Ensuring work meets technical actuarial standards.
• Ensuring work meets the Society’s governance requirements.
• Providing oversight and review of work (pricing, valuation & project) carried out by other team members, as required.
• Providing actuarial support to the wider actuarial team and the rest of the business as required.

• Actuarial modelling for life products
• Actuarial assumption setting for life products
• Software skills (e.g. Excel, VBA, R or Python)

• Solvency UK
• UK protection products and market
• Knowledge of income protection products a bonus but not necessary
• General understanding of reinsurance for protection business

At least 5 years of actuarial experience, including:

• Modelling for pricing or valuation work.
• Project work.
• Responsibility for deliverables.
• Reporting to senior stakeholders.

Either qualified or currently sitting final exam.

• Company pension scheme, you contribute 1%, we contribute 7%