Senior Actuary – LMRe Portfolio Pricing & Analytics

Liberty Specialty Markets

Country: United Kingdom of Great Britain and Northern Ireland

Creation Date: 26-Jul-2024

Employment Type: Permanent, Full time

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Description & Requirements

Role Title: Senior Actuary – LMRe Portfolio, Pricing & Analytics

Department: Actuarial

Team: LMRe Actuarial

Location: London

About the Role:

Reporting to the LM Re Head of Portfolio, Pricing & Analytics, you will drive actuarial portfolio, pricing & analytics to improve business performance, growth and meeting operational goals. You will be expected to apply a comprehensive understanding of the business implications, significantly influence the course of action taken and provide clear actuarial advice to senior managers and other groups on actuarial, underwriting, financial and strategic matters.

You will work closely with the following stakeholders:

• LMRe Actuarial Metaline teams to ensure case pricing, model governance and planning as core deliverables to Management and UW stakeholders increase GRS A&DSS influence.
• Underwriting and Portfolio Management: To help drive better underwriting decision making through account pricing, portfolio deep dives and product development.
• LM Re Reserving Team: To understand the key drivers of the reserves, be able to communicate this to management/UW and improve pricing/reserving output based on integrated feedback loops. This will include portfolio deep dives.
• LM Re Data & Analytics Team: As a key user of central MI, you will be critical in ensuring the required data is captured, appropriate underwriting metrics are designed and used.

About the Department & Team:

The actuarial team evaluate business performance and provide LM Re management with a clear, risk-based view for making decisions on business strategy and risk mitigation. The department covers aspects of actuarial work including pricing, non-cat parametrisation and business planning. The team also collaborate with other functions in the actuarial support of data & analytics, capital management, exposure management and reinsurance purchasing & strategy.

The LM Re actuarial team consists of 19 members, across Singapore, Cologne, London, Stamford, and Boston. We form part of the wider, 60 person, LSM actuarial team.

Key Responsibilities:

• Own LMRe’s pricing model risk governance framework. Be responsible for the delivery of projects in compliance against both internal and external standards.
• Creating and/or delivering Strategic initiatives, bringing greater use of data and analytics to UW decision making.
• Be responsible for the development of pricing tools – Work to deliver the next generation of pricing models on leading-edge platforms as part of the wider underwriting transformation to increase our pricing sophistication, the quality and enhancement of our data, functionality, user experience, and speed of model build/maintenance. Develop team/self to improve technical skills and capabilities that will be needed by analytical professionals of the future.
• Strategic projects, typically LMRe wide – Collaborate, influence and lead development and rollout of analytical models that help drive competitive advantage. Dynamically manage multiple analytics projects affecting multiple stakeholders ensuring quality technical delivery and good stakeholder management.
• Drive LMRe’s approach to Portfolio Management and tools working with Underwriting Portfolio Managers, Data & Analytics, and Operations to ensure analytical tools lead to improved decision making.
• Self-service analytics – Drive the delivery of insightful and timely self-service MI on portfolios, lines of business and key risks to drive better data-driven decisions within key forums such as pricing committees, quarterly business reviews and deep dives.
• Understanding the external and competitive landscape and to increase help LM Re’s position and reputation in the market.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• Qualified Actuary (ideally from three years post qualification upwards).
• Relevant work experience in the general insurance, reinsurance or consultancy field.
• Excellent communication skills (written and verbal).
• Able to apply the depth/breadth of actuarial skill and business acumen that often comes from highly technical experience.
• Requires educational attainments: 2.1 or better (or equivalent) in a numerate/scientific degree and an A / A in A-Level Maths or equivalent.
• Strong interpersonal, verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques.
• Strong negotiation, analytical and decision-making skills required.
• Strong IT skills with practical experience (and/or desire to learn) in Excel, SQL, Python, R, PowerPivot, PowerBI, and DAX.
• Utilise relevant methods, data, and tools effectively to solve technical problems, communicate technical concepts effectively to varying audiences, draw meaningful conclusions and make recommendations, enhance actuarial analyses ensuring clear audit trails.
• Strong desire to learn and continually advance breadth and depth of expertise supporting delivery of array of different projects and workstreams. High degree of self-motivation, maturity and positive outlook.
• Anticipate and adapt to business and customer needs, aligning work with Liberty Mutual’s broader goals and making informed decisions based on organizational understanding and key metrics.
• Foster cross-functional relationships, engage in inclusive problem-solving, and drive innovative solutions by considering multiple stakeholder perspectives and requirements.
• Serve as a mentor and coach to junior team members, promoting trust, motivation, and engagement within a specific area of expertise.
• Assume ownership and responsibility for delivery, manage timelines and workload effectively, ensure error-free and well-reviewed work, respond proactively to feedback, and take responsibility for detailed handovers and personal skill development.
• Experience working with rating technologies for example Hyperexponential Renew, Emblem, Radar, Tyche etc. would be an advantage but is not a requirement.
• Experience of working in a non-life commercial (re)insurance pricing team or doing predictive modelling and analytics in the (re)insurance industry is an advantage but not a requirement. Relevant experience from data science, consulting, commercial or personal lines also welcomed.

About Liberty Mutual Reinsurance:

Liberty Mutual Reinsurance is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

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