The role will involve the modelling and financial analysis of a wide range of product types in order to ensure that pricing risks and rewards are properly understood and communicated in papers produced for senior management. This will also involve setting premium rates, profitability and data analysis, helping in the assessment of Solvency II capital requirements, experience analysis, product monitoring and reviews, proposition development, negotiation of reinsurance terms and close involvement in system implementations. The successful candidate will have the opportunity to gain valuable experience in a dynamic and challenging environment.
Responsibilities:
* Working with Business Development and Commercial teams to assess and develop viable product concepts.
* Analysis of CNPSI own experience and other relevant statistics in order to develop and set appropriate business mix and pricing assumptions for input into pricing models.
* Contribute to the development, improvement and maintenance of pricing models for the purpose of pricing and profitability analysis.
* Carry out the necessary calculations required for pricing exercises including setting premium rates, assessing profitability metrics, P&L and Balance sheet impacts, return on capital and sensitivity analysis.
* Produce detailed Product Specifications for implementation purposes including specifications of all product features and calculations related to the product along with the collation of all data requirements for wider Actuarial purposes in BAU.
* Support the implementation of new products and product/pricing changes including the provision of policy calculation test cases, gathering of business requirements and validation of system testing across all impacted systems (Distributor, TPA and CNPSI)
* Contribute to the production of product notes for the Risk, Actuarial and Finance Forum, the Product Committee, CNP Group and where relevant the CNPSI Executive Committee and Board.
* Adherence to existing processes and controls and contribution to the ongoing development of the process in order to deliver maximum efficiency while minimising risk.
* Monitoring and reviewing existing products and portfolios to ensure pricing remains appropriate and contributing to the wider company POG monitoring and review process.
* Work with the Actuarial Reporting and Economic Capital teams in order to ensure information is shared and to maximise the consistency and quality of Management Information.
* Support the development of new and improved claims and persistency analysis processes.
Experience
* Trainee Actuary or actuarial graduate, making good progress in the actuarial exemption subjects.
* Strong analytical and problem-solving skills and ability to develop solutions.
* Ability to apply actuarial techniques to practical business situations.
* Desire to build and maintain internal and external business relationships.
* Excellent interpersonal and communication skills.
* Highly motivated, inquisitive and adaptable with the ability to identify and introduce new initiatives.
* Energy, drive & commitment to deliver excellent service to all areas of this growing business.
* Ability to meet deadlines and to be a good team player.
* Experience of risk management with strong knowledge of risk and control.
* Computing skills and the ability to adapt these skills to a range of software.
Seniority Level
Associate
Employment Type
Full-time
Job Function
Analyst and Other
Industries
Financial Services and Insurance
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