Miryco Consultants Ltd
Pricing Actuary - individual Annuities
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Miryco has an amazing opportunity for a Pricing Actuary with a specialism in Individual Annuities.
A leading UK retirement specialist is entering an exciting new phase of growth, expanding its offering into the individual annuity market.
The Pricing Actuary will be responsible for building and evolving the pricing model, developing processes and governance for model updates, designing and helping to implement the quotation infrastructure and MI that will underpin our customer proposition.
The role will combine rigorous actuarial modelling with commercial awareness, requiring close collaboration with other parts of the retail team including the distribution, operations, technology and proposition development teams.
Key Responsibilities
- Develop the individual annuity pricing model and work closely with the relevant technology teams to maintain and improve the model over time.
- Design and run the process to select a reinsurer and work closely with the chosen partner to integrate their underwriting with the company's pricing approach.
- Create the necessary MI reporting on market pricing dynamics. Carry out regular competitor rate monitoring and provide pricing recommendations in response changes in relative value between pricing segments.
- Provide actuarial input to the product development process, assessing the pricing implications of new product features, benefit structures and underwriting changes.
- Contribute to regulatory and capital reporting as relevant to the individual annuities book.
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Skills and Experience
- Qualified or nearly qualified actuary (IFoA Fellowship or equivalent), with experience in Individual Annuity pricing.
- Experience of longevity postcode models, mortality experience.
- Strong Excel skills.
- Good commercial awareness, with the ability to translate technical pricing outputs into clear business recommendations.
- Strong communication skills, with the ability to explain complex actuarial concepts to non-actuarial stakeholders, including large groups and senior stakeholders.
- Curiosity and willingness to learn needed to become a subject matter expert for the business in new areas.
- Self-starter mindset, able to take initiative and work effectively in a fast-paced build-out environment.
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For similar opportunities, follow Miryco Consultants on LinkedIn: https://www.linkedin.com/company/miryco-consultants-ltd/
Please note that if you have not been contacted within ten working days of submitting your application, unfortunately your application has not been shortlisted on this occasion.
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