Pricing Risk Manager
We are Direct Line Group – home to some of the country's best-known brands including Direct Line, Churchill, Privilege, Greenflag, and NIG. Our vision is to create a world where insurance is personal, inclusive, and a force for good, and our purpose is to help people carry on with their lives- giving them peace of mind now and in the future. To help us deliver on this vision and purpose, we're transforming our systems, products, and services, and constantly innovating for the future - in the evolution to be a forward-thinking technology and data company. Servicing millions of customers each year, and employing over 10,000 employees, minimising risk for our customers and employees is so crucial to the success of DLG.
Aligned to the wider business transformation, our Risk and Compliance function has embarked on its own 2-year transformation journey with the aim to reposition and rebrand Risk through a re-energised vision and leadership team under our new Chief Risk Officer (CRO), as well as scaled up capabilities through investment in our people and in technology, while reviewing the framework, strategy, and overall risk appetite.
We have a fantastic opportunity to join DLG as a Pricing Risk Manager, focused on challenging our pricing and underwriting models, processes, governance and strategy. You'll be supporting the Head of Stress and Scenario Testing and Model Risk with leading the second line oversight of Pricing Risk for DLG, including:
- Oversight of technical pricing models
- Pricing and underwriting risk governance
- Strategy and compliance
This is a fantastic role to really hone in and further develop your leadership skills as you'll be relied on and delegated to, on behalf of our Head of Stress and Scenario Testing and Model Risk - eg supporting as required at the relevant Risk and governance forums. And to be successful, you'll have to work closely with our counterparts across the business (e.g. Pricing and Underwriting, Finance) and the broader Risk organisation to independently assess and oversee risk taking activities.
What you'll be doing:
- Provide challenge and oversight of pricing models, model governance, pricing strategy, processes and compliance
- Provide challenge and oversight of underwriting risk management, including risk appetite and management of climate change risk
- Provide insurance risk SME to the business and to other financial risk teams, including input into: oversight of insurance risk, stress & scenario testing; calibration of the internal capital model
- Translate complex analysis to non-technical audiences, concentrating on material financial impacts of key modelling - ensuring we all understand our risk exposure against the Group risk appetite
- Prepare accurate, timely and relevant reports in line with Executive, Group and senior management requirements including Risk Management Committee and Board Risk Committee
What we're looking for:
- Pricing or similar experience within the UK general insurance market (non-life)
- Strong experience of using Emblem and/or other pricing software
- Ability to communicate technical findings or analysis to non-technical audiences
Hours: 35 hours (Monday - Friday)
Hybrid working: We have a hybrid model with a virtual-first approach which means you would primarily work from home. The team currently meet 1 day a week in the Bromley office, but we’re moving to London Bridge this August! As long as you live a commutable distance from one of our offices in Leeds, Birmingham, Bristol, London, or Glasgow and understand you might need to travel into London upto 1x a week, that's great. We'll support you as best as we can!
We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:
- Generous 9% employer pension. Regardless of whether you contribute into your pension or not, DLG pay 9% into your pension (but you can take this as cash if you want!)
- Eligibility for annual performance bonus of upto 10%
- Generous holidays, starting with 25 days per year and going up to 28 days (excluding the bank holidays). Plus, the option of buying or selling upto 5 days each year!
- 50% off home, motor and pet insurance
- Free travel insurance and Green Flag breakdown cover
- Electric Vehicle car scheme which allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax efficient way
- Buy-as-you-earn share scheme
- Employee discounts and cashback
Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.
We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.
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