Director, Product Pricing

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

The Director, Product Pricing role holder will report to the Group Director, Products and will be responsible for overseeing pricing and technical areas within the remit of the Group Product function. This is a pivotal role in the newly established Group Product function, and will play a key role in helping establish the new target operating model. The role requires a strong technical actuary, with the passion to work in a fast-paced environment bringing industry best practice and a willingness to go above and beyond.

Key Responsibilities:

Product Pricing

• To collaborate with the Group Product and Customer team to ideate and develop new insurance products that meet the needs of all stakeholders. Work with Group Agency and Group Partnership Distribution on refining product features and compensation schemes while ensuring products financial viability, profitability and customer value.
• To lead the pricing for Group HNW products, ensuring that premiums are fair to customers, whilst company financial outcomes can be met.
• Lead the negotiations with reinsurers, and collaborate with Group Actuarial to optimise the value from reinsurers.
• Support LBUs pricing team. Ensure industry best practice in pricing techniques and methodology is applied across all LBUs. 
• To ensure key stakeholders are well informed and managed throughout the product approval process, including the Group Chief Actuary, Group Finance as well as Group Risk. To recommend and assess changes over time to Prudential’s product governance.
• Support the Group and LBUs in addressing specific business issues such as the financial outcomes of possible strategic and commercial decisions, introduction of new regulations, actuarial model changes etc

Education and Experience

• At least 15 years of insurance company experience, with fellowship of an international actuarial association
• Strong commercial background with relevant experience in pricing, and a good sense of international actuarial best practices
• Previous valuation and reporting experience, preferably with international metrics such as Embedded Value and IFRS17
• Articulate communicator, with excellent ability to interpret actuarial results
• Strong technical and analytical skills
• Experience of team management and a passion for developing more junior members’ capabilities.
• Ability to work in an agile and fast paced team environment, and in close collaboration with various functions and markets.

 

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.