Richard Wright

Experience

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  Standard Life

  Sept 1999 - Feb 2005

  Actuarial Trainee
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  Self Employed Actuarial Consultant

  Jun 2005 - Sept 2009

  Self Employed Actuarial Consultant
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  Zurich Life

  Apr 2008 - Feb 2009

  Placement - Pricing Actuary (Protection)

  - Responsible for calculation of Life and CI protection product reprices- Identified and then implemented a change for model point creation by programming the method into VBA; this reduced the process down from several days to a matter of minutes and significantly reduced the error risk- Programmed part of the quotation system for launch of the Group Protection product using Visual Basic

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  WMW Actuarial Solutions Ltd

  Sept 2009 - Jun 2011

  Director
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  Raw Resources Ltd

  Jun 2010 - Mar 2024

  Director

  Life Assurance Consultancy Services

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  Legal & General

  Sept 2010 - Jun 2011

  Placement - Solvency II Actuary

  Assisted implementation of Internal Model and Standard Formula Model in the Protection product area. Key outputs:- Worked as an Annuities and Protection SME on the build of the Group Standard Formula Model- Significantly enhanced the IM formula fitting process for Protection products by improving the existing spreadsheet tools and methodology using VBA code- Authored guidance notes for the derivation of risk factor distributions and correlations- Reviewed a wide range of Solvency II documentation and mathematical papers for feedback to the senior actuary Show less

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  Skandia

  May 2011 - Oct 2013

  Placement - Pricing Actuary (Offshore Products)

  (Role also held March 2009 to August 2010)Extensive range of work undertaken, both pricing and ad-hoc projects: - the main actuarial point of contact for all day-to-day pricing requests and product queries for the full suite of offshore life and investment products- reviewed and developed SII pricing and quotation models across various IT platforms including MoSes, Excel and VBA- reconciled MoSes MCEV valuation model against pricing tools for multiple products; subsequently upgraded the pricing tools on the Chief Actuary's acceptance of my recommendations- main Actuarial SME for several high priority projects- responsible for training of senior students within the team- responsible for resolving customer complaints and TCF issues, including large-scale projects working with foreign regulators- reinsurance tender analysis work- systems change project work Show less

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  MGM Advantage

  Nov 2013 - Jan 2014

  Placement - Pricing Actuary (Equity Release)

  Worked as Product Pricing Actuary on the ERM product. This included reviews of the pricing model and pricing assumptions, as well as working closely with product distributors and CRO to write a product development recommendation report for board approval.On board acceptance of the development proposals, further work involved producing a capital modelling methodology paper using ICA valuation model output.

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  Aviva

  Aug 2014 - Dec 2015

  Placement - Solvency II Actuary (Equity Release)

  Worked on securitisation solution for Equity Release Mortgage business to meet criteria for Matching Adjustment portfolio under Solvency II, including- developing models for SPV cash flows from the underlying mortgages and features such as derivatives- liaising with 3rd party banking partners- supporting queries from the PRA and external auditors on year end reporting for ERMs- coordinating delivery of the legal agreements for the SPV- reviewing the legal agreements and modelling for historic securitisations- investigating methodology and factors that influence House Price Inflation modelling Show less

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  Phoenix Group

  Aug 2016 - Oct 2016

  Project Support Actuary

  Assisting work on implementation of a bulk buy-in of pension scheme liabilities to a Matching Adjustment fund

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  Old Mutual Wealth UK

  May 2017 - Aug 2019

  Senior Project Actuary

  Lead Actuary on the FG16/8 review of customer outcomes on a heritage book of unitised WOL Protection products and the subsequent implementation of a voluntary remediation programme to impacted customers.The success of the delivery required creative thinking and problem-solving skills, and negotiation with key stakeholders up to CEO level. In addition, remediation work demanded the design and build of a highly complex Excel and VBA model to reconstruct plan values for several thousand customers Show less

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  Legal & General Reinsurance

  Sept 2019 - Dec 2020

  Areas of focus include: Reinsurance pricing; Pandemic Stop Loss; US Protection; Pension Risk Transfer; Second Line review

  • Risk Director

    Aug 2020 - Dec 2020

  • Project pricing and risk actuary

    Sept 2019 - Aug 2020
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  Freelance

  Feb 2024 - now

  Consultant