Our client has a proud heritage in helping people secure their financial futures. They're continuing to build on that foundation and are growing their thriving bulk annuity business, partnering with pension schemes to protect members’ retirement benefits. This is a fantastic opportunity to join them in an exciting period of exponential growth and be part of a trusted business, where your work makes a real difference and you can accelerate your career.
This position reports to the Deputy Head of Pricing and plays an integral role in the Bulk Purchase Annuity team. Working independently, you'll undertake a variety of different tasks to enable the department to meet its objectives, including:
• Support and oversight for pricing activity, working collaboratively with the Pricing, BPA Transition and wider Actuarial teams.
• Perform analysis, modelling, testing and documentation of strategic BPA pricing processes, in conjunction with the Pricing team and other departments as appropriate.
• Provide oversight of others’ work and feedback to contribute to the effective operation of the BPA department.
• Support the team in ensuring that new pricing opportunities are set up to produce cashflows.
• Support the BPA team in ensuring that successful bids are migrated appropriately onto the Life Insurance Company systems and that any true-up or variation is appropriately priced.
• Support the development and maintenance of pricing bases and pricing models for BPA that adhere to our risk tolerances and are scalable for future growth.
• Preparation and analysis of policyholder data for pricing, including methods and assumptions for addressing gaps in data.
• Experience investigations for factors affecting pricing assumptions.
• Provide appropriate support to managers and others to implement. recommendations/facilitate change to support the requirements of the business.
• Ad hoc tasks as required.
• Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards.
Core competencies:
• Knowledge of UK Defined Benefit Pensions and reinsurance structures.
• Understanding of actuarial concepts related to annuity pricing and valuation.
• Good communication skills.
Experience and qualifications:
• Part qualified Actuary.
• Experience of working within pensions or similar role with an insurer.
• Experience of annuity modelling and pricing.
If you think these skills align well with your own and you're keen to join a progressive company involved in one of the most robust and mature insurance markets globally, please apply today.