Pricing Actuary - Cyber

Company
Munich Re Specialty - Global Markets
Location
London , United Kingdom

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.
  
About us
MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.
  
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive

 

 

Responsibilities 

• Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to the underwriters
• Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
• Construction, review and maintenance of pricing models for varied classes of business
• Analysis of pricing model data including parameter validations
• Support for syndicate business planning process
• Production and review of pricing management information
• New business initiative analyses and independent reviews
• Investigation and utilisation of alternative data sources for parameterisation of pricing models
• Support underwriting within depth portfolio analyses and performance management
• Ensure all advice offered is in line with TAS requirements
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Significant pricing experience in the London Market
• Qualified actuary by exams OR extensive experience
• Experience with Cyber knowledge in (re)insurance
• Effective communication skills and ability to translate complex models in business terms 
• Strong business acumen and interpersonal skills
• Team player and willingness to train junior members in the team
• Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment
• Knowledge of a range of modelling techniques and applications for pricing
• Knowledge and understanding of the underlying principles of insurance and reinsurance
• University degree in Mathematics, Actuarial Science, Statistics, Economics or similar discipline.

 

Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!
 
Diversity & Inclusion
Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

 

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.

 

Push Boundaries. With us. | Munich Re