The role is responsible to develop tactical strategy and delivery plans, formulate associated practice(s) and to ensure the operational implementation and adoption in terms of actuarial methodology, governance, and delivery objectives under the supervision of a senior actuarial specialist. The role enables sound management of business performance and financial risk. Candidates who are interested should be able to perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk.

Accountabilities

• Assisting with the design and pricing of new and existing products.
• Research of new market developments and generation of new product ideas.
• Research product feasibility including administration requirements.
• Deliver and implement new products at a high efficiency level – liaising between different divisions and departments ensuring all aspects of the new products have been considered and are being attended to, including wordings, marketing, system development and reporting.
• Review and refine current products in terms of both profitability, persistency and their ability to meet clients’ needs relative to competitor alternatives.
• Manage Products’ Key Performance Indicators (KPIs), including:
• Take-up Rates
• Loss Ratio’s
• Lapse Rates
• Monitor and analyse in-force data (e.g. perform an experience analysis) to confirm product key performance indicators such as: take-up rates, cancellation rates, and lapse rates.
• Provide input into the control cycle based on the above results, through recommendations to product design etc to ensure product KPIs remain within set target limits.
• Make recommendations about improvements and opportunities relating to reserving. Advise management in the selection of reserving assumptions and methodologies. Work with stakeholders to make efficient use of capital in line with relevant regulation and accounting standards.
• Support business, marketing and sales around the products:
• By being available to answer questions on the products.
• Assisting with material for training on products; and
• Giving insight into areas where sales should be targeted, and lapses can be prevented.
• Presenting of products to relevant stakeholders.
• Be able to present products to relevant stakeholders, such as: management, Investors, Brokers, Sales teams.
• Ensure presentations are up-to-date, relevant and represent our organisation correctly.

Skills/Experience Required

• Undergraduate degree in Actuarial Science.
• Passed at least 5 A-level exams.
• 1-2 years of short-term insurance experience will be advantageous.
• Experience with the following software will be advantageous:
• SAS
• Emblem
• ResQ

Competencies Required

• Interpreting data.
• Interacting with people.
• Articulating information.
• Conveying self-confidence.
• Showing composure.
• Thinking positively.
• Meeting Timescales.
• Team working.
• Checking things.
• Producing output.

Additional Comments

• Sound understanding of Insurance Operations and Insurance Processes.
• Good project management skills.
• Work accurately and quickly.
• Self-belief, good communication, strong interpersonal skills with ability to work effectively as part of a team, dealing with people on all levels.
• Ability to prioritise, while remaining flexible to deal with changing work demands.
• Flexible, adaptable and excited about working in a dynamic non-conventional environment.