Actuary - Cyber

Country: United Kingdom of Great Britain and Northern Ireland

Creation Date: 03-Mar-2025

Closing Date: 17-Mar-2025

Employment Type: Permanent, Full time

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Role Title: Actuary - Cyber

Division: Global Risk Solutions (GRS)

Department: Global Actuarial Solutions

Location: UK or France

Type: Permanent/Full Time

Reporting to: Senior Director, Actuarial

About the Role:

The Global Actuarial Solutions, within Global Risk Solutions (GRS) is looking for a Cyber Actuary to advance the pricing sophistication and profitability of the line of business. This role will focus on the launch and maintenance of our global rater in support of the new global cyber product, aligning pricing strategies across the world. By leveraging the support of Business Segment Actuaries and the Cyber Product organization, the successful Actuary will drive improved pricing and market sensing that results in profit and appropriate growth throughout GRS. Strong expertise in Cyber, as well as advanced pricing techniques, is desired.

Key Responsibilities:

• Serve as an Actuarial partner and adviser to the Global Cyber team and Product Boards to develop product strategies.
• Influence key strategic decisions related to Cyber, such as portfolio design and capital allocation.
• Implement and maintain Global Cyber Rater, including Actuarial support for US filings, in collaboration with key stakeholders from product, Business Segment Actuaries, underwriting leads, technology and business agility leads, and operations.
• Support Cyber product by contributing to initiatives on portfolio improvement, monitoring etc.
• Coordinate reviews with Cyber Risk Management, and Catastrophe Modelling team to formulate Cyber catastrophe loss ratio that should be used in profitability reviews and planning.
• Synthesize and share competitive intelligence and insights on leading indicators to support market cycle sensing and performance monitoring.
• Partner with Business Segment Actuaries to develop strategies around technical price and global pricing tool, with consistent pricing standards.
• Support Product Planning and associated strategic posturing, as well as provide expertise throughout Financial Planning process.
• Champion Cyber strategies with the relevant Actuarial teams, adjusting to local realities as needed.
• Work with Cyber-focused actuarial leads within GRS businesses to translate global pricing strategies into execution level strategies.
• Create and maintain a feedback loop between Business Segment Actuaries, Reserving Actuaries, GRS Office of Underwriting, Product Boards and other relevant functions.
• Adhere to all relevant regulatory requirements and demonstrate behaviours as set out in the Conduct Risk Policy, related to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.

Skills and Experience:

• Cyber pricing expertise, as well as advanced pricing techniques, is desired.
• Experience in Cyber Actuarial required.
• Requires detailed knowledge of the operations and processes associated with the operational group.
• Strong analytical skills with solid understanding of all Cyber actuarial techniques, standards, and assumptions.
• This position requires an experienced and knowledgeable actuarial viewpoint in a wide variety of actuarial subjects, and in company, industry, and regulatory practices.
• Knowledge should include data, methodologies, systems and platforms.
• Advanced to expert knowledge of specialized software, actuarial and statistical methods, tools, and the existence of programming languages.
• Able to undertake new processes/analysis based on cutting edge research and technologies, within and outside the insurance industry.
• Focus efforts on staying competitive in the market.
• Ability to grasp theoretical concepts.
• Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing.
• Ability to make decisions with incomplete information.
• Ability to establish and build effective relationships within and outside the organization.
• Ability to give effective training and presentations to senior management and other groups.
• Ability to collaborate with Business Segment Actuaries and Office of Underwriting.