Trainee Pricing Actuary - Dublin

Outstanding career opportunity to join a Best in Class Actuary department.  We are looking to hire a Trainee Pricing Actuary to join our Pricing team in Dublin.  This an excellent position for applicant who is looking to pursue a career within actuary.  We can offer you a vibrant and dynamic environment to work in, paid study days as you work towards or progress your actuary qualifications and most importantly a rewarding career in insurance.

This Trainee Pricing Actuary will provide support to the Intermediated Retail Pricing Team by proposing the front-end pricing rates and structures for the Intermediated Home and Motor channel using Actuarial techniques, helping to ensure the achievement of Op plan.

The team will also report APTP metrics and contribute to the production of KPIs/analysis etc. required to manage the intermediated portfolios and for internal and external reviews/engagement.

This position as Trainee Pricing Actuary will be involved with implementing proposed new pricing techniques and structures and contributing to actuarial and analytical advances/improvements. The individual will also appreciate all aspects of GLMs, GBMs, quarterly claims trending analyses and all the associated complexities and aspects of back end to front end pricing. As a result, the individual will also be required to have a close relationship with the Actuarial Team.

At RSA Ireland our history goes way back. We can trace our roots to 1710. We are proud of our past, but we’re all about the future. A proud future powered by profitable growth and strong values. 
Headquartered in London, we have over 12,500 people supporting our 9 million customers, in over 100 countries. We’ve a long-standing reputation in Ireland too and have been providing insurance solutions to the Irish market since 1721. With teams in Dublin, Belfast and Galway we support our customers through our affinity and broker channels and our 123.ie business. 

We are committed to building an inclusive culture of continued development, with our people at the very heart of it. ‘Your Best U’ is our people brand and reflects our desire for everyone to bring the very best version of themselves to work every day and we build our culture on our values of love simplicity, do the right thing, be better every day and boundless ambition. We are a flexible employer and understand the need to balance work and life outside the office. This is a flexible role with the ability to work dynamically.

Key Responsibilities:

• Gathering required data (qualitative and quantitative) for analytical and/or modelling purposes, from agreed internal and/or external sources, in line with all mandatory data management, reporting and legal/regulatory requirements.
• Liaising with other departments to verify appropriate data sources and understanding of data.  Cleaning and validating information collected to ensure accuracy and reliability, as far as possible.
• Work with Actuarial to specify, build and operate technical pricing models to meet business needs and requirements, ensuring methods and assumptions used are appropriate and consistent with relevant Group/Regional guidelines and reflect material regulatory requirements
• Implementation of commercial rating tariff using actuarial technical models
• Scenario analysis identifying impact of rate changes on profitability, business mix, conversion & retention
• New business & renewal optimisation
• Creation of demand models - renewal, conversion using GLM/GBM techniques
• Analysing information to identify variances, trends, anomalies, etc and explain, highlight and/or refer relevant issues to others as appropriate.
• Regular review of Intermediated accounts – (including AP/TP analysis, claims trends, loss ratio, COR, retention, conversion, etc) to identify problem areas
• Preparing and presenting required reports, forecasts and other outputs to agreed standards in terms of timeliness, content and presentation on a regular and ad hoc basis as required. 
• Taking all reasonable steps to ensure the accuracy and reliability of output, providing appropriate guidance to others on implications and interpretation
• Analysis of Business Mix to identify changes that can affect profitability
• Creation, validation & running of monthly transactional data warehouses

Requirements:

• Mathematical or statistics 3rd level qualification or equivalent
• Advanced knowledge of MS Excel, Intermediate knowledge of Word, PowerPoint, and SAS or SQL
• Knowledge of pricing tools EMBlem, Radar & Optimiser and GLM/GBM modelling techniques
• Good commercial awareness and general understanding of the wider financial services marketplace
• Strong numeracy skills and understanding of statistical analysis
• Ability and willingness to learn and adapt quickly
• Experience of working within an actuarial or statistical environment

Regulatory Requirements:

• This role is subject to the Fitness and Probity Standards (“The Standards”), issued under Section 50 of the Central Bank Reform Act 2010 and any subsequent amendments. The role holder must ensure they are fully aware of the Standards and in a position to fully comply with them at all times.

RSA Insurance Ireland DAC and its affiliate companies consider applicants on the basis of qualifications and without regard to race, colour, religion, sex, national origin, age, marital or veteran status, sexual orientation, disability or any other legally protected status.