Tactical Pricing Manager (Tesco Underwriting)

  • Department: TU Tactical Pricing
  • Location: Reigate
  • Published: 06/09/2021
  • Apply by: 17/09/2021

You’ll bring the ambition, we’ll provide the opportunities

Tesco has built its success – and its reputation – on a tradition of excellent service and dedication to the customer, but Tesco Bank is about more than bringing these values to a new market. It’s about bringing a new approach to personal finances and retail banking. As we look to build upon existing talent within our senior and specialist roles, we’re creating a backbone of excellence – offering the highest-calibre of professional a chance for wide-ranging and long-lasting impact in a business that’s breathing new life into the industry.

This is an exciting opportunity as a Tactical Pricing Manager within the Pricing Team for Tesco Underwriting, a wholly owned subsidiary of Tesco Bank. You’ll play an important part in the delivery of Tesco Underwriting’s business objectives, enabling TU to deliver high quality, market-leading personal lines pricing.

The Tactical Pricing Manager main responsibilities will be:

  • To support the Senior Pricing Managers to deliver the key metrics within the financial plan through the delivery, management and oversight of the Home and Motor rating structures.
  • To maintain an accurate rating structure, based on the results of statistical claims modelling, whilst allowing for the most up-to-date view of claims experience and any emerging market trends.
  • To monitor underwriting performance at a granular level and propose that prompt pricing or underwriting action is taken when performance is outside expectations or opportunities arise.
  • To communicate the results of pricing proposals to peers, senior management and external parties as appropriate, including assessment of the end-to-end impact on the Tesco Bank P&L.
  • To ensure that work processes and pricing specifications are adequately documented, validated and stored within a clear directory structure with complete version history.
  • Coaching and full line management of multiple analysts, ensuring the needs of the individual are met. This may involve allocating work, motivating, and supporting personal development.
  • To coach and support other Pricing team members.
  • To take accountability and drive for their own personal development.

Experience and skills required for our Tactical Pricing Manager:

  • A very strong record of education attainment with a degree in numerical subject with minimum 2.1 classification.
  • Ideally a nearly/newly qualified Actuary.
  • Able to use data analysis and data processing/modelling software; ability to coach more junior team members in the use of this software.
  • Sound theoretical and practical understanding of Personal Lines underwriting and pricing principles and experience of using industry standard pricing tools (e.g., Radar, Emblem, SAS).
  • Ability to explain complex analysis in plain English, avoiding the use of jargon and acronyms and able to communicate the material financial implications of modelling and analysis decisions.
  • Able to appropriately balance statistical accuracy with financial materiality.
  • Able to apply judgement where data may be sparse or insufficient in quality or where considerable uncertainty surrounds the range of potential outcomes.
  • Good organisational skills; able to deliver tasks within agreed timescales.
  • Proven ability to work as part of a team, fostering positive relationships and providing mutual support and guidance.
  • Consultative approach; able to influence policy informers and test and challenge business assumptions.
  • Previous people management experience

We are proud to have an inclusive culture at Tesco Bank where everyone truly feels able to be themselves. At Tesco Bank, we not only celebrate diversity, but recognise the value and opportunity it brings to enable us to help our shoppers manage their money a little better every day. We're committed to creating a workplace where differences are valued, and make sure that all colleagues are given the same opportunities.

We also know the importance of balancing work with life's other commitments. Please talk to us at interview about the flexibility you need and we'll explore what's possible.

Wherever your talent lies, you’ll find challenge and reward in equal measure. We’re here to go the extra mile for our customers – and we’ll do the same for you. It’s simple. As long as you have the ambition, we’ll provide the opportunity for success.

This vacancy closes midnight on 17 September 2021.

Tactical Pricing Manager (Tesco Underwriting)


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