Pricing Model Development Trainee Actuary London, England
SCOR
Full Time
London, England
90000 - 108144 GBP ANNUAL Today
Job description
The SGP&C Specialty Insurance Single Risk Pricing team are in the process of implementing a more data driven approach to their pricing processes with pricing model development on two web-based platforms:
- The Underwriting Platform (UP) , an internal web-based application designed to be a submission to bind tool for underwriters to write risks.
- Renew , a third-party software as a service (SaaS) platform for developing and deploying Python pricing models.
With two pricing models already delivered on UP and three models being planned for 2023 delivery (Property, Casualty and D&O) the pricing modules of the UP project are expected to be the focus of the role.
The successful candidate will work within an experienced actuarial pricing team and will have the opportunity work with a range of stakeholders including underwriters, actuarial methods and tools team, IT, and the technology team (CTO).
The role will provide an excellent opportunity to continue to develop (or kickstart) a career in the insurance/reinsurance field by developing an in demand skillset of programming, project development and insurance/reinsurance domain knowledge.- Development of pricing models on these platforms present a range of interesting challenges from both an actuarial, commercial and data management perspective, these include;
- Working with actuarial developers who are writing and testing new pricing models to check they are working as expected.
- Taking existing pricing model datasets and transforming data from old data structures to the new data model for:
- Model testing,
- Calibration of the new models
- And migration of pricing data to the new platform.
- Creating data access layers to sit between the data storage of the new platforms and our pricing engines.
- Making sure pricing requirements within the new applications are specified and working as expected (manual and automated testing).
- Helping with analysis and data provision for actuarial analysis and creation of dashboards.
- Helping to write and manage pricing documentation to ensure smooth transition to the new platforms.
- Managing user onboarding to the platform; explaining how the models work, answering queries, and collecting and implementing user feedback.
- Helping design and update the pricing user interfaces.
- Python based solutions using version control (git) and project/code repository management software (Gitlab & Azure DevOps) will be used to address these challenges. Examples of current Python frameworks and toolkits being used include:
- Flask (API deployments)
- SQL Alchemy (database management)
- Sphinx (documentation)
- Selenium (automated application testing)
- Pytest (testing framework)
The successful candidate will be primarily responsible for providing support in addressing the challenges described above whilst also providing support to the wider actuarial team when required.
The role would suit an ambitious trainee who wants to:
- Experience a dynamic and multi-cultural actuarial team within the Specialty Insurance division of SCOR Global P&C.
- Has an interest in and wants to develop:
- knowledge in system design, programming, project management and has actuarial experience, or
- actuarial skills and has a background in computer science/programming.
- The candidate would be expected to have experience in Excel, SQL and Python (or other programming languages)
Personal Competencies
- Communication : excellent interpersonal verbal and written skills that enable the candidate to communicate effectively with colleagues (especially underwriters), brokers and clients.
- Integrity : the ability to make a principled stand where required.
- Independent : a thinker with an analytical mindset.
- Flexibility : the ability to manage workload and prioritise different tasks.
- Personality : a self-motivator who is keen to learn and take on increasing responsibility over time.
- Teamwork : ability to work collaboratively with others in the Actuarial Team
Education
- Degree in Mathematics, Actuarial Science, Computer Science or any other scientific discipline (statistics, physics etc.) or equivalent experience
SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.
In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.
At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.
