Venquis
Pricing Manager
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Role Purpose
This is a high-profile and critical role offering considerable exposure and the opportunity to make a significant impact by ensuring actuarial oversight and technical pricing excellence across a large consumer member base and significant policy portfolio. The role holder will deputise for the Director of Pricing and Value on retention matters.
The role will help to develop opportunities based on expert market insight to deliver best in class pricing practice and execution, that drives our Retention trading performance.
You’ll influence and constructively challenge at senior & Exec organisational levels, providing oversight to delivery and growth plans to challenge the norm where required and ensure executional excellence and best in class practise.
Context
- Highly competitive market, set against a background of changing social, legal and economic pressures, with an emergence of new risk scenarios.
- Changing regulatory environment.
- UK based and operating within one of the organisation’s largest P&Ls.
- Critical role in achieving and maintaining the organisation’s strategic priorities, whilst driving profitability and mitigating churn.
Reports To
- Director of Pricing and Value.
Key Relationships
- Exec / Board.
- Senior Consumer Leadership / Retention Team.
- Senior Leadership and Finance Directors.
- Consumer Pricing & Finance Teams.
- Marketing & Insights Team.
Key Responsibilities
- Drive and develop the successful delivery of Consumer pricing strategy, development and initiatives across the Division, driving profitability upwards.
- Lead programme execution where required to deliver on initiatives and programmes critical to Division and group commitments.
- Produce Executive summaries of FCA regulatory pricing changes, understanding and communicating the impact these may have on the Business.
- Liaise with the Financial Conduct Authority and Financial Ombudsman Service as required. Ensure Financial Ombudsman pricing complaints are responded to appropriately.
- Undertake detailed statistical analysis using actuarial modelling techniques to support the Risk Based Pricing element of the Renewal Pricing Strategy and ensure correct implementation.
- Consider and model the tax implications of pricing changes.
- Support business decisions by providing accurate and predictive analysis to support business strategy.
- Investigate and drive forward market leading pricing capabilities.
- Develop forecasting models and explain weekly / yearly variances vs forecast.
- Understand FCA regulatory guidance, both Pricing and non-Pricing.
- Develop action plans to ensure that the pricing strategy aligns to the evolving regulatory landscape.
- Lead the Product & Pricing (P&P) Forum and translate outcomes to inform the Executive P&P, acting as an advisory service to non-actuarial business stakeholders.
- Ensure decisions taken are compliant and adhere to Governance sign-off processes.
- Manage and develop a small team of pricing analysts who will provide accurate and timely analysis of business trading data to inform strategic thinking and decision making.
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Key Performance Indicators
- P&L and Budget plan delivery supported.
- Business margins maintained / increased.
- Organisation perceived by others as a market leader.
- Business and Compliance Risks managed within agreed appetite.
- Compliance with all appropriate company policies, ensuring appropriate sign-offs are achieved through the Pricing & Product Forum and Executive Board.
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Skills, Knowledge & Experience
- Extensive pricing experience and demonstrable expertise in a relevant field such as Finance, Insurance or Banking.
- Excellent technical knowledge of pricing and analytical techniques.
- Highly numerate with strong analytical and problem-solving skills.
- Experience of statistical modelling software (e.g. Emblem, R, Python) advantageous, but not required.
- Experience of optimisation software (e.g. Radar Optimiser, Earnix) advantageous, but not required.
Personal Attributes
We’re looking for a skilled analytical thinker with the ability to handle competing priorities, complex dynamics and exercise judgement in the development and implementation of strategic plans. You’ll also need strong experience of delivering complex programmes at a senior level.
In addition, you’ll demonstrate:
- Strong delivery and leadership experience with exceptional communication and negotiation skills.
- Strong stakeholder management experience with a demonstrable ability to build relationships based on credibility and trust with Exec, regulators and Group-wide stakeholders at all levels.
- Finance acumen to build, track and deliver business cases.
- Experience of leading diverse, professional teams.
Qualifications
- Relevant numerate degree / post qualification.
- Progress towards a relevant professional qualification, e.g. CII, MBA or FIA, desirable.
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