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Your role at a glance

As the Head of Commercial Pricing you will own and deliver all of the pricing elements outside of the `Risk Pricing Philosophy' with a view to maximising commercial value for the Group Protection business within an approved risk tolerance.

You will also develop and deliver pricing strategies and business wide profitability and distribution oversight mechanisms (including optimised delegated authority frameworks) that enables Group Protection to meet its strategic business goals whilst balancing profitability and risk exposure.

This role will also come with great business exposure as you will not only liaise with the Group Protection Commercial Director, but also the Director of Sales and the Head of Risk Pricing to ensure that our Pricing Strategy is executed to maximum effect.

This is a hybrid working opportunity, based from our London Offices in Moorgate.

What you'll be doing

• Owning, developing and delivering robust commercial pricing strategies and governance mechanisms (including optimised delegated authority frameworks) for new and existing products - including features that enable growth in market share whilst meeting profitability targets and adhering to risk control requirements.
• Owning the setting of expense, cost of capital and target profitability loadings by product, scheme size cohort, vintage and any other relevant split as required to maximise new business value add and profitable existing business retention.
• Owning the optimisation of all commercial decisions made in GP and delivering of target profitability across the book, including the design of appropriate management information. As part of this you will oversee and optimise any required cross-functional business forums designed to maximise commercial value and control commercial decisions. Currently these include New Business Round Tables, Existing Business Retention Forums and Commercial Pricing and Quote Review meetings.
• Working closely with the Distribution Director and Commercial Director to ensure monitoring of distribution teams are adequate and provides sufficient control to maximise commercial value from distribution activity.
• Ensuring the focus of distribution activity is on maximising New Business Value Add and profitability and not just Annual Premium Equivalent.
• Working closely with Head of Risk Pricing, Head of Reinsurance and Head of Underwriting to ensure that risk and commercial pricing elements are combined accurately and that the quality of scheme underwriting execution is appropriate.
• Taking the lead in all matters with regard to the management of employees, ensuring that management discretion is used in a consistent manner and that the area follows the Group’s policies and procedures including the Partnership Agreement to maximise business performance.

What we're looking for

• Qualified Actuary through the IFoA or equivalent
• A commercial outlook and good inter-personal/communication skills.
• Previous experience of pricing products (preferably group protection products)
• Ability to analyse, interpret data and present conclusions in non-technical language
• An understanding of how assumption and pricing recommendations will impact core financial metrics
• Ability to effectively manage high risk situations with senior leadership internally and with clients/external stakeholders.
• Ability to balance strategic goals with immediate priorities and set clear targets to achieve progress against both
• Advanced analytical methods and data manipulation techniques for analysing experience
• Ability to take ownership and deliver with drive & enthusiasm
• Strong people-management skills

Benefits

If you join us, you’ll get access to some great benefits, including private medical insurance, 30 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You'll receive a car allowance of 12% of your annual salary, and you can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave.

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings.