Team Head of Actuarial, UK Products, Insurance UK
Insurance UK are responsible for the manufacturing, sourcing and supply of insurance products and services for HSBC UK, first direct, M&S Bank and Commercial Banking, with external distribution for a number of product lines under both the HSBC and other brands.
The Team Head of Actuarial, Products will lead the UK Pricing Team and will supply subject matter expertise on all pricing related issues for both the manufactured and non-manufactured business. The focus is on providing pricing support on all new and extant products in order to drive and deliver the Insurance UK AOP. Pricing will include reviewing reinsurance terms and driving commercial discussions whilst supporting financial requirements.
By considering customer satisfaction measures, alongside product reviews, conduct risk data and other feedback, the role will drive forward initiatives which help to ensure our customers’ needs are achieved.
Your responsibilities will be:
- To lead a pricing team on the delivery of pricing of new and extant products, both manufactured and non-manufactured business.
- Consider commerciality and pricing levels to deliver on AOP, whilst balancing the financial requirements of profitability and return needed.
- To clearly communicate to stakeholders any pricing proposals, meeting all governance, regulation and standards required.
- Planning and prioritising activities to ensure delivery in line with agreed objectives; individual and business.
- Continual assessment, identification and implementation of opportunities for product improvement and mitigation of risk.
- Setting the business agenda to achieve improvement for the customer, stakeholders and shareholders.
- Demonstrate leadership through personal drive, energy, tenacity and resilience through a complex governance and matrix managed business.
- Driving momentum for delivery across the team/department/ wider business.
- Initiating, building and maintaining trusted relationships with key internal and external stakeholders across the full product journey, including but not exclusive to; product design and propositions, marketing, distribution, retention, procurement, business performance, Wealth, Group Insurance, Underwriting, Claims, servicing and Global Functions – Legal, HR, Risk, Compliance, Finance, Change Delivery.
- Understanding, aspiring and managing yourself and others to ensure that right results are achieved, in the right way – in line with HSBC’s Values and Behaviours.
- Leads and facilitates open and honest communication across various mediums displaying leadership skills with tact and integrity.
- Driving change in the wider team, sharing knowledge and expertise, either in a line role, project team or cross functional group.
- Driving self-development and developing others to bring out the best in everyone in an inclusive way.
- Ownership and oversight of the Operational risks associated with the delivery of new products and initiatives, maintenance and assessment of existing product or exiting of products/relationships, taking account of but not exclusive to; changing economic or market conditions/legal and regulatory requirements/ operational procedures and restructuring/new technology/ internal audits.
- Demonstrating understanding and adherence to the regulatory environment and Governance Process.
- Deliver fair outcome for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
To be successful in this role, you will need to have:
- Qualified Actuary and/or extensive experience.
- In depth knowledge of pricing and product development.
- Familiarity with solvency II, IFRS17, economic capital and risk frameworks.
- Knowledge of a wide variety of life insurance products in HSBC’s markets.
- Strong leadership and relationship building skills.
- Confident communicator across various channels and at different levels.
- Excellent planning and organisational skills.
- Good analytical and problem solving skills.
- Adaptable and flexible to change.
- Able to manage conflicting priorities with challenging timescales.
The base location for this role is flexible within the UK.
Come Power a Business that Defines How to Power the World
HSBC offers the opportunity to develop a fulfilling career within a supportive and inclusive environment. We aim to be a place where everyone can achieve their full potential, regardless of their background. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.
We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.
As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.
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Telephone: +44 2078328500