Pricing & Product Development Analyst

ARC LTD is seeking a Pricing & Product Development Analyst in the Underwriting Department to join a team to successfully implement its strategy towards inclusive growth and sustainability.

DUTIES AND RESPONSIBILITIES:

1. Responsibility for technical aspects related to the underwriting aspects of the company including:
   1. Perform and develop detailed technical analysis of the sovereign & non-sovereign business portfolios in accordance with ARC set technical guidelines.
   2. Contribute to the design, price and implement new parametric insurance products in line with the needs of clients. This includes carrying out market research to ascertain the markets and client needs.
   3. Provide technical assistance to clients by supporting them to develop viable strategies necessary for growing and up-scaling agriculture insurance.
   4. Developing technical notes and briefs for clients & any relevant partners/stakeholders etc.
   5. Monitor profitability of the sovereign & non-sovereign business portfolios and progress towards the achievement of income targets.
   6. Contribute to the development of ARC Ltd’s underwriting protocol by assessing, reviewing and recommending changes to take into account industry standard practices, latest developments and ARC specific considerations.

2. Pricing Support
   1. Perform technical pricing of both primary insurance & reinsurance for both the sovereign & non-sovereign business to ensure ARC Ltd accepts and retains quality business.
   2. Prepare quotations for offers of parametric insurance covers to clients, brokers, and any other relevant stakeholders.
   3. Support the creation of procedures for product approval and review processes within ARC Ltd’s universe of portfolios for both sovereign and non-sovereign business ensuring recent pricing methodologies are incorporated.
   4. Support the development of ARC Ltd pricing tool by assessing, reviewing and recommending changes to take into account industry standard practices, latest developments and ARC specific considerations.
   5. Communicate and resolve issues within business development, underwriting, finance, and reinsurance broker impacting efficient execution of ceded reinsurance programs.

3. Reinsurance, Capital & Risk Management:
   1. Perform and develop detailed risk analysis of the sovereign & non-sovereign business portfolios in accordance with ARC set technical guidelines to ascertain that any deals/offers are within the risk appetite framework.
   2. Support the development of ARC Ltd’s Risk protocol by assessing, reviewing, and recommending changes to take into account industry standard practices, latest developments and ARC specific considerations.
   3. Contribute to the placement of reinsurance arrangements that support the sovereign & non-sovereign business portfolios.
   4. Contribute to the enhancement of ARC Ltd Capital Management Framework considering the risk based regulatory, credit rating and economic aspects.

4. Stakeholder Management
   1. Maintain proper records of all sovereign & non-sovereign business deals that are in the pipeline, updating the status of the deal in the approval workflow.
   2. Support sovereign & non-sovereign business processes such as season reports, payout monitors, crop cut inspections along the season and claims adjustments at the end of the season.
   3. Support sovereign & non-sovereign portfolio in claims management, ensuring that all claims reports, cash calls request and other claims supporting documentation are timely processed for a prompt settlement of claims.
   4. Process reminder notices to facilitate the recovery of outstanding amounts due from clients and brokers while also ensuring timely remittance of amounts due to them.
   5. Communicate and resolve issues within business development, underwriting and finance.
   6. Engage with re-insurers and any other strategic partners for the refinement of any new products that suit the needs of the market in order to grow the sovereign & non-sovereign portfolios.
   7. Promote and sensitize stakeholders on parametric insurance by conducting trainings and preparing briefs as and when required.

5. Other:
   1. Support the preparation of underwriting, risk and capital management reports for Underwriting and Reinsurance Committee and the Board.
   2. Support ARC Ltd Inclusive Growth Strategy by carrying out any special projects and performing other duties and tasks as required from time to time.

The ideal candidate will demonstrate the following characteristics:

• Bachelor’s degree within Economics, Finance, Risk Management, Mathematics, Actuarial

Science or related field.

• Professional insurance qualifications.

• Previous experience of at least 3 years in index-based insurance and parametric covers, alternatively professional experience in the areas of data analytics, hedging / commodity trading or in insurtech start-ups.
• Recognized professional Actuarial qualification preferr
• Knowledge of risk management principles, Solvency II and risk based regulatory regimes will be an added advantage.
• Ability to apply basic mathematical concepts in communicating complex issues.
• Advanced quantitative, modelling and coding skills will be a plus.
• Innovative thinker with strong analytical and problem-solving skills, including the ability to deal with ambiguity.
• Excellent verbal and written communication skills with the ability to interact with internal and external customers.
• Demonstrated successful ability to prioritize and multi-task various and conflicting responsibilities.
• Demonstrated successful ability to build positive partnerships and work collaboratively with cross-functional business teams.

Please send your CV to Ange Chitate on achitate@ltd.arc.int . Closing date: 06 August 2021