You are required to work closely with the Active Underwriter / Chief Underwriting Officer for the Syndicate and the underwriting teams across the London & International entities on a day to day basis. Your responsibility extends to developing and maintaining an appropriate underwriting strategy in comparison to the business plan in line with the portfolio feedback responsibilities, supporting growth and development of the pricing function. This includes formulating the business plan for the Syndicate in accordance with the SIMA Board's risk appetite.
Your wider responsibilities in order to facilitate an appropriate underwriting strategy includes ensuring the Syndicate operates and adheres to the Lloyd's Minimum Standard Principles across pricing and planning disciplines. This requires reviewing the Underwriting Minimum Standards in respect of Underwriting Strategy, Pricing & Rate Monitoring.
Other responsibilities include advising and guiding Underwriting staff and Senior Management on technical related matters as well as being responsible for pricing related matters including peer review of contract / model based pricing and the pricing of large bespoke contracts.
You report to the Chief Pricing Actuary and you will be in a role that is FCA certified (i.e. a SMF holder).
Your responsibilities include:Reviewing and owning Principle 1 (Underwriting Strategy & Pricing) of the Lloyd's Minimum Standards and providing recommendations for sign off to the Chief Underwriting Officer.Effectively line managing the UK based Pricing Actuaries to support their development and performance and support the training of actuaries / technical underwriters across International.Assisting the Active Underwriter and Class Underwriters in the following:Preparation of Syndicate management material including but not limited to, the Syndicate Business Plan, monthly management reports and premium income, and to assist as required, on reserving and capital assessment etc.Monthly / Quarterly review of the Syndicates' planned premium income, lines of business allocation, price and rate adequacy.Assist in the preparation, approval and submission of Syndicate returns via Lloyd's Core Market Returns (or MDC), in accordance with Lloyd's regulatory timetable.Monitoring the development of underwriting tools in order to crystalise pricing structures and other risk management tools.Addressing any concerns with regards to the underwriting with the underwriters in the first instance and to the Strategic Executive Committee / Board.Development of the pricing framework including policy, guidance, models, outputs, technical rating and adherence to best practice guidelines.Ensuring that risk is managed optimally within the technical framework particularly in risk acceptance and underwriting appetite.In conjunction with the Pricing Actuarial department, facilitating the development and implementation of technical rating solutions that satisfy the company's stated financial objectives.Overseeing day to day pricing through review of Actuarial Referral Templates and the pricing model feedbacks.Assisting in the pricing of large contracts that are material to the Syndicate's income and / or result.Taking part in client discussions in order to assist in developing solutions that better both the client and SiriusPoint's positions either financially or risk related.Overseeing the completion of the Syndicate Business Plan and provide support to the Group's planning process where appropriate.Assisting and enabling the Actuarial Function to express an opinion on the key threats to future profitability as detailed in the Actuarial Function Report.Acting as a member of the Strategic Underwriting Committee and management committee (as required), being a selected alternate to the Risk & Capital Committee and Reserving Committee.Supporting the Chief Pricing Actuary in Group related matters, particularly in unifying Global pricing assumptions and methodology and supporting process driven improvements for all lines of business.Supporting both all P&Ls where appropriate.Performing all duties in line with the FCA Individual Conduct Rules as documented in the Employee Handbook.Any other duties as reasonably required.
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