Pricing Actuary

General<br><br><strong>Job Title:</strong> Pricing Actuary<br><br><strong>Division:</strong> Finance - Actuarial<br><br><strong>Reports To:</strong> Lead Pricing Actuary – Cyber & Executive Risks<br><br><strong>Key Relationships:</strong> Underwriters and business managers, Beazley actuaries, Claims managers, Data Management and Ceded Reinsurance teams, regulators, external actuaries, brokers.<br><br><strong>Job Summary: </strong> Actuarial pricing for the Cyber Risks Division and the Executive Risks classes (within the Specialty Risks Division) at Beazley<br><br><strong>Key Responsibilities<br><br></strong><strong>Technical<br><br></strong><ul><li>Provide pricing support to the Cyber & Executive Risks underwriting teams at Beazley; pricing support includes (as required): </li><li>Developing pricing tools that support the estimation of price adequacy and rate change </li><li>Performing portfolio and transactional pricing analyses </li><li>Performing segmental and trend analyses </li><li>Performance monitoring (e.g. rate change and price adequacy metrics) </li><li>Develop, maintain and review pricing models to the required standards </li><li>Contribute effectively to the production of the relevant reports required for any key committees where required. </li><li>Provide training to underwriters in pricing; this includes technical pricing and rate change requirements </li><li>Understand and support the underwriting controls related to pricing and relevant regulatory principles </li><li>Understand and apply the pricing quality assurance process </li><li>Assist in other projects undertaken by the actuarial team e.g. liability transfer valuations and business planning analyses </li><li>Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives </li><li>Build your technical pricing skills and experience </li><li>Provide support and mentoring to the junior members of the team </li><li>Keep abreast of industry best practice, new initiatives and changes in regulatory requirements </li><li>Build and maintain constructive working arrangements with those groups identified as being key to your role </li><li>Work with the underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of the data used for pricing; ensure the necessary data is captured from pricing tools to enhance future pricing capabilities </li><li>Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs </li><li>Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies </li><li>Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable <br><br></li></ul><strong>General<br><br></strong>It Is Important That Within All Your Interactions Both Internally And Externally You Adhere To Beazley’s Core Values - Being Bold, Striving For Better, And Doing The Right Thing – As They Contribute To An Internal Environment Of Teamwork And Promote a Positive Brand Image And Experience To Our External Customers. We Also Expect Beazley Employees To<br><br><ul><li>Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct. </li><li>Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system. </li><li>Display business ethics that uphold the interests of all our customers </li><li>Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs. </li><li>Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management. </li><li>Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups. <br><br></li></ul><strong>Personal Specification<br><br></strong><strong>Essential Criteria<br><br></strong><ul><li>Actuarial qualification </li><li>Pricing experience; with specialty (re)-insurance market knowledge desirable </li><li>Firm grasp of actuarial / statistical techniques used in pricing </li><li>Understanding of reinsurance and capital with application to pricing <br><br></li></ul><strong>Education And Qualifications<br><br></strong><ul><li>University degree in Mathematics or related field <br><br></li></ul><strong>Skills And Abilities<br><br></strong><ul><li>General commercial and financial knowledge </li><li>Competent user of MS Excel; VBA, Access, Python, SQL and R skills desirable </li><li>Strong analytical skills with attention to detail; accurate and numerate </li><li>Able to communicate effectively both verbally and in writing </li><li>Team worker as well as able to work on own initiative </li><li>Ability to manage time, meet deadlines and prioritise <br><br></li></ul><strong>Aptitude and Disposition<br><br></strong><ul><li>Outcome focused, self-motivated, flexible and enthusiastic </li><li>Professional approach to successfully interact with team members, internal and external stakeholders <br><br></li></ul><strong>Competencies<br><br></strong><ul><li>Achievement and solution focused </li><li>Analytical </li><li>Information seeking </li><li>Stakeholder focus </li><li>Using initiative </li><li>Having integrity </li><li>Taking responsibility </li><li>Attention to detail <br><br></li></ul><strong>Who We Are<br><br></strong><strong> <br><br></strong>Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.<br><br>Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.<br><br><strong> <br><br></strong><strong>Our Culture<br><br></strong>We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.<br><br><ul><li>Be bold </li><li>Strive for better </li><li>Do the right thing <br><br></li></ul>Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.<br><br>We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.<br><br>Explore a variety of networks to assist with professional and/or personal development. Our Employee. Networks include<strong>: <br><br></strong><ul><li>Beazley RACE - Including, understanding and celebrating People of Colour </li><li>Beazley SHE - Successful, High potential, Empowered women in insurance </li><li>Beazley Proud - Our global LGBTQ+ community </li><li>Beazley Wellbeing - Supporting employees with their mental wellbeing </li><li>Beazley Families - Supporting families and parents-to-be <br><br></li></ul><strong> <br><br></strong>We Encourage Internal Career Progression At Beazley, Giving You All The Tools You Need To Drive Your Own Career Here, Such As<br><br><ul><li>Internal Pathways (helping you grow into an underwriting role) </li><li>iLearn (our own learning & development platform) </li><li>LinkedIn Learning </li><li>Mentorship program </li><li>External qualification sponsorship </li><li>Continuing education and tuition reimbursement </li><li>Secondment assignments <br><br></li></ul><strong> <br><br></strong><strong>The Rewards</strong> <strong>UK<br><br></strong><ul><li>The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization. </li><li>Attractive base compensation and discretionary performance related annual bonus </li><li>Private medical insurance coverage for both you and your dependents </li><li>Company paid life assurance and long term disability insurance </li><li>Pension with 10% employer contribution, plus a further matched contribution up to 2.5% </li><li>25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also available up to a maximum of five additional days per year. </li><li>Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually </li><li>Up to £550 reimbursement towards home office setup </li><li>Free in-office lunch and monthly lifestyle allowance </li><li>Monthly travel allowance or annual season ticket </li><li>The opportunity to save for, and purchase, shares of Beazley stock </li><li>Six months fully paid parental leave, regardless of how you come to parenthood </li><li>Company paid sabbatical up to 12 weeks after 10 years of continued service </li><li>Support with exam/study leave and fees for relevant qualifications related to furthering education </li><li>Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business</li></ul>

Back to blog

Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

This is what this question poses: When do you focus and start working seriously? What are the hours you work optimally? Are you a night owl? A morning bird? Remote teams can be made up of people working on different shifts and around the world, so you won't necessarily be stuck in the 9-5 schedule if it's not for you...

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

When you're working on a remote team, there's no way to chat in the hallway between meetings or catch up on the latest project during an office carpool. Therefore, virtual communication will be absolutely essential to get your work done...

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

Many people want to work remotely because of the flexibility it allows. You can work anywhere and at any time of the day...

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

With this question, companies are looking to see what equipment they may need to provide you with and to verify how aware you are of what remote working could mean for you physically and logistically...

5. HOW DO YOU PROCESS INFORMATION?

Several years ago, I was working in a team to plan a big event. My supervisor made us all work as a team before the big day. One of our activities has been to find out how each of us processes information...

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

Or you may receive even more specific questions, such as: What's on your calendar? Do you plan blocks of time to do certain types of work? Do you have an open calendar that everyone can see?...

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

Just like your schedule, how you track files and other information is very important. After all, everything is digital!...

8. HOW TO PRIORITIZE WORK?

The day I watched Marie Forleo's film separating the important from the urgent, my life changed. Not all remote jobs start fast, but most of them are...

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

Just as communication is essential when working remotely, so is organization. Because you won't have those opportunities in the elevator or a casual conversation in the lunchroom, you should take advantage of the little time you have in a video or phone conference...

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?

This is a great question because it shows your comfort level with technology, which is very important for a remote worker because you will be working with technology over time...