General Insurance Pricing Actuary/Trainee Actuary


Job Ref:
838

Job Title:
General Insurance Pricing Actuary/Trainee Actuary

Location:
Dundrum - Dublin 16

Closing date:
Close date not set

Vacancy Description

General Insurance Pricing Actuary/Trainee Actuary - Dublin

RSA is one of the world's leading general insurers and a FTSE 100 Company with a heritage dating back over 300 years, and we are proud of it!
Our products are high quality and innovative – just ask our 20 million customers in over 100 countries.
We provide a great service to our customers when they need us most. That’s why we’re always looking at new and innovative ways in which to improve our service for our customers. We set new standards in the industry every day.

Excellent opportunity for a Trainee Actuary/ Pricing to join us here in RSA.

This is a unique job for an candidate who is looking to develop their career in Actuary.  This Actuary Trainee will gain 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.

The individual 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.


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 optimization
  • Creation of demand models - renewal, conversion using GLM/GBM techniques
  • Analyzing 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:

  • Nearly/Newly qualified Actuary, previous experiences in GI
  • Mathematical or statistics 3rd level qualification or equivalent
  • Position in retail pricing team
  • Reporting to Intermediated Pricing Lead
  • 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

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.



Sorry, this vacancy is closed.

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