Policy, process, & procedures

• Operate in accordance with Actuarial Professional Standards.
• Open and cooperative with the FCA, PRA and other regulators.
• Act in accordance to Sompo values.
• Observe proper standards of market conduct.
• Contribute to the development, enhancement and maintenance of internal standards and governance frameworks for UK Pricing.
• Adhere to internal requirements and policies relevant to the role including pricing policies and referral criteria
• Contribute to improving internal pricing processes through continuous improvement and supporting broader strategic projects.
• Ensure understanding and support adherence to policies and procedures.

Leadership

• Demonstrate Sompo UK Leadership support as a senior member of the UK Pricing team, supporting actuaries and analysts across the department, and working with senior leadership to promote the vision, goals and strategy for the UK Pricing function.
• Provide input to strategic thinking around the development of the team to meet and exceed requirements and provide the best service to the business.
• Provide point of contact for pricing governance across the business and functions, connecting with senior leaders who have a contribution or an interest in pricing governance.

People Management

• Provide information to senior actuarial leadership on resourcing, delivery and performance to support broader team management.
• Provide a clear vision for the team with regards to pricing governance aligned to the broader vision from the Head of Pricing, UK.
• Support the UK Pricing team’s business towers on governance related matters, training and peer review.
• Ensure clear requirements and expectations are set for the pricing actuaries to ensure the team can meet governance requirements both collectively and individually.
• Support broader development of junior members of the UK Pricing team through training and team events.
• Ensure clear communication of UK pricing governance to pricing teams operating across Sompo and provide support for efficient implementation of the requirements.

QUALIFICATIONS, SKILLS, & EXPERIENCE

Qualifications

• BSc in Mathematics, Statistics, Economics, Actuarial Science, or Similar.
• Qualified Actuary (FIA or equivalent) or a Part Qualified Actuary who has demonstrated capabilities through extensive experience and prior roles.

Experience

• Good previous experience of individual case pricing and pricing models within a general insurance environment.
• Demonstratable capability of working closely with other members of the team and other functions to support day to day governance activity and deliverables.
• Significant knowledge of pricing performance metrics and how they can be utilised in terms of performance measurement and governance.
• Understanding of regulatory requirements in respect of case pricing, planning and performance including appropriate governance requirements.
• Good understanding of Financial Services Industry best practice in actuarial analysis, modelling and underwriting
• Demonstratable capability to develop the required understanding of Sompo business and processes relevant to the role.
• An ability to identify potential risks and support mitigation through development and implementation of appropriate controls relevant to the role.

Skills

• An ability and interest in promoting the Actuarial & Pricing value proposition across key stakeholders in the business.
• The capacity to proactively support a team to ensure appropriate influence and drive regarding pricing governance.
• A desire to identify opportunities for continuous improvement and additional value add for the team and for stakeholders.
• Appropriate levels of knowledge of MS Excel, Access, Powerpoint and Word.
• Knowledge or the ability to develop knowledge within the wider team, as required, of relevant programming languages.
• A deep understanding of actuarial techniques relevant to the role, as well as other parts of the Actuarial Function which could be impactful on pricing.
• Excellent communication.
• Ability to persuade and influence stakeholders and collaborators in the support of day-to-day business decisions.
• Excellent report writing skills, and the drive to ensure appropriate documents are in place to enable Pricing actuaries to meet internal requirements as well as meeting Professional standards.