This role sits within the proposition team, which is responsible for setting the strategy, pricing and roadmap for existing products. This role, reporting to the Pricing & Modelling Actuary, will develop, maintain and produce output from models (including stochastic models) which employ the agreed economic framework to support business decisions, including product pricing.
The role will contribute actively to the selection, and ongoing maintenance and use, of an economic scenario generator (ESG) to power the production of stochastic simulations, and will develop models to generate and exploit those simulations.
The role will support the Pricing & Modelling Actuary in analysing and developing product propositions, exploring risk issues including investigating investment backing, and seeking to ensure that business continues to offer a competitive proposition whilst adding to the long-term sustainability of the business.
Job details:
- Amend existing, and develop new, models to support the development of new propositions, by generating a rich understanding of prospective outcomes, including by means of stochastic simulations
- Review economic scenario generators available in the market on an ongoing basis, liaising with providers and consultants to keep the approaches of The People's Partnership in line with good practice
Experience needed:
- Good understanding of life & pensions business & pricing approaches
- Good understanding of economic scenario generators and stochastic modelling
- Excellent skills in building models (including stochastic models) using one or more mainstream coding languages, such as VBA or Python
