Head of Pricing

2 weeks ago

Johannesburg, Gauteng, South Africa The Vine Partners Full time

Job Description:

We are a prominent commercial risk specialist in Southern Africa focused on proactive risk management and exceptional customer service. Leveraging our extensive industry insights and specialized knowledge, we collaborate with clients and brokers to protect their businesses and elevate their risk profiles across the region. Our approach to managing customer risk is purposeful, working closely with brokers and clients to facilitate well-informed risk decisions.

Key Responsibilities

  • Pricing: Evaluate current and potential new business lines in short-term insurance offerings, encompassing Commercial Lines, Personal Lines, Marine, Engineering, and Hospitality.
  • Team Management: Lead and supervise the pricing team, overseeing around 10 team members.
  • Stakeholder Management: Collaborate with different stakeholders within the organization, such as Broker Distribution and Underwriting, to ensure alignment with financial goals.
  • Portfolio Analysis: Continuously analyze portfolio results to inform pricing decisions and explore alternative actions to meet business objectives.
  • Pricing Best Practices: Develop pricing best practices, system design, and procedures, and contribute to their implementation as necessary.
  • Pricing Tools Oversight: Oversee pricing tools, including contracting, budgeting, implementation, and alignment with industry standards.
  • Strategic Translation: Translate organizational plans into actionable pricing bases and risk management strategies in accordance with governance policies.
  • Predictive Analysis: Utilize statistical techniques to predict outcomes accurately and support strategic decision-making.
  • Project Leadership: Lead complex pricing projects requiring collaboration across various business units.
  • Actuarial Support: Offer actuarial insights to the business, providing guidance on performance and profitability monitoring.
  • Reporting: Develop business reports to monitor profitability and identify market opportunities.
  • Business Support: Translate income statement deviations into pricing actions and drive pricing initiatives.

Relationships:

  • Internal: Collaborate with internal stakeholders in IT, Underwriting, Claims, Finance, Risk Management, and Sales and Distribution.
  • External: Engage with consultants, software providers, Insurance Partners, and relevant industry groups.

Qualifications & Experience:

  • Minimum NQF Level 7 (University degree) in Actuarial Science or related field.
  • Qualified FASSA designation of the Actuarial Society of South Africa or equivalent.
  • At least five years' experience in short-term insurance pricing, including modelling and deployment.
  • Experience providing actuarial advice to senior management.
  • Strong background in underwriting, portfolio management, and general management.
  • Experience in project management and large-scale IT development projects.

Behaviours:

  • Collaborative mindset with the ability to influence across functions.
  • Self-motivated and proactive with a drive to achieve business objectives.
  • Professional, enthusiastic, and positive attitude.
  • Deadline-oriented with the ability to work under pressure.
  • Strong leadership skills with effective team management abilities.

Knowledge:

  • Intermediate to advanced knowledge of actuarial principles, legislation, and pricing best practices.
  • Proficiency in finance, accounting, and economic trends impacting underwriting and pricing.
  • Proficient product knowledge with an understanding of policy wordings and commercial and personal lines.
  • In-depth understanding of insurance industry trends, regulations, and market dynamics.
  • Knowledge of IT governance and software development lifecycle.
  • Familiarity with enterprise underwriting strategy development and implementation.

Technical Skills:

  • Proficiency in English; proficiency in additional languages preferred.
  • Strong communication and presentation skills.
  • Advanced computer literacy, including SAS, VBA, and pricing software.
  • Expertise in statistical and actuarial pricing tools and methods.
  • Knowledge of IT architecture and fault diagnosis.
  • Advanced understanding of portfolio management and optimization methods.

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