Senior Actuarial Analyst; Longevity Pricing

Position: Senior Actuarial Analyst (Longevity Pricing)
Job d:

Location:

London, England, United Kingdom Category:
Actuarial & Risk Management Company:
Munich Re Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch:

With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition.

So we need a smart strategy and structure in order to succeed.

At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big  terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role:

You will be a member of the Longevity Pricing team, supporting the Pricing Leads in the deliverables of the team. You will also assist the more junior members of the team, providing technical expertise and guidance and also checking their work.

The team is responsible for delivery of Longevity quotes (which includes both production of data/Biometric analysis and Pricing deliverables); inputting in to deal executions; 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 Longevity team on other related activities.

Key Responsibilities:

Be an important technical expert within the team across Pricing and Biometric elements, developing technical knowledge relevant to reinsurance pricing for Longevity business.

Represent the team and communicate results to senior management and other departments.
· Checking work that's produced by the team for quotes and projects, ensuring the accurate use of data and production of experience analysis, setting of appropriate Pricing assumptions and supporting the negotiation of commercial terms.
· Develop an understanding of the financial implications, across all appropriate metrics, of decisions made. Ensuring the right balance between commercial needs and risk is achieved.
· Develop relationships with the commercial Longevity team and construct an important branch wide network of contacts.
· Support the training and development of more junior members of the Pricing team, providing feedback.

Contribute to the team's ongoing 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.
· Support the development and review of the Longevity basis and assumptions.
· Where required provide support to the development of new Longevity propositions and support the commercial Longevity team on their activities.

Input in to team discussions on non-technical topics (including people and culture) and show an interest in branch wide programs.

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think…