Pricing Actuary
CurrentPricing Actuary with role of Pricing lead on Longevity business.Involvement in all Longevity pricing work at Munich Re UK Life Branch.Responsible for coordinating with client managers to manage the pricing required to participate in reinsurance quotes for insurer buy-ins/buy-outs and for Longevity swaps.Involved in setting bespoke assumptions appropriate for the portfolio being reinsured or for the peer review of those assumptions. Required to present the assumptions to senior management for their scrutiny and sign-off. Input on commercial decisions surrounding setting the final client fee after consideration of risk based metrics. Assist with the formal internal sign off process for deals progressing to completion, including preparing papers for review by local and global risk management function and responding to their questions; and input into final deal submission papers.Responsible for reconciliation to client models during deal completion process, review of proposed collateral methodology and review of actuarial components of final contracts. Monitoring of quote feedback to understand our competitive position. Review and consideration of our Longevity pricing basis to ensure it remains best estimate and in line with latest data. Other responsibilities for Inforce Longevity deals include validation of updated treaty data following initial data cleanse, re-setting assumptions where required after a Mortality Basis Review is requested and monitoring Inforce deal performance.Performed thorough review of Longevity Pricing Process and implementing improvements to produce efficiency gains, improve accuracy and improve offering to clients.