Pension Risk Transfer (PRT) Transaction Manager

Job Type: Permanent

Location: This role will be based in our London office with some flexibility to work between the office and home.

We will discuss what is important to you and balancing this with business requirements during the recruitment process.

Salary and Benefits : from £100,000 - £140,000 (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Join Standard Life's expanding Pension Risk Transfer (PRT) business and be part of one of the most exciting growth stories in the UK retirement market.

Backed by a recently announced £2bn capital commitment and a bold vision for future growth, we're investing in our people, capabilities and market presence as we support an increasing number of pension schemes through complex de risking journeys.

As a Transaction Manager, you'll be at the centre of that growth, taking ownership of transaction pricing, negotiation and execution whilst working alongside industry leading experts to deliver innovative solutions and outstanding customer outcomes.

If you're looking for an opportunity to combine technical expertise, commercial influence and tangible market impact, there has never been a more exciting time to join our team.

Who are we?

We're Standard Life, a retirement specialist focused entirely on retirement savings and income.

We champion the belief that everyone's journey to and through retirement can be better, and for more than 200 years, we've been helping our customers plan and prepare for their financial futures.

Life today is increasingly complicated, uncertain and unpredictable.

People move through different careers, face unexpected moments and navigate important choices.

We offer our colleagues flexibility, trust and benefits that work for whatever life brings.

In return we expect curiosity, connection, accountability and high standards.

We make room for what matters - so you can bring your best, every day.

The Opportunity

You will lead the pricing, negotiation and execution of small and medium sized Bulk Purchase Annuity transactions, taking responsibility for all aspects of deal management and governance through to contract completion.

You will also support senior colleagues on the delivery of larger and more complex transactions.

Combining strong technical expertise with commercial judgement, you will play a central role in shaping transaction strategy, overseeing pricing and supporting informed and effective decision making.

You will work closely with colleagues across the business to deliver successful transaction outcomes that support our strategy and maintain a clear focus on customers and policyholders.

A key part of the role will be building strong relationships with trustees, sponsors, advisers and internal stakeholders, while helping to develop the technical capability and future talent of the wider team.

• Key Responsibilities Lead transaction execution and commercial decision making
• Lead all aspects of deal management for small and medium sized transactions, taking responsibility for delivery from the initial transaction process through to contract completion.
• Support senior colleagues on the delivery of larger and more complex transactions.
• Lead transaction pricing, negotiation and execution, ensuring activity is coordinated effectively across all relevant workstreams.
• Oversee the quality and accuracy of pricing, applying the agreed pricing basis alongside commercial judgement, current market dynamics and Standard Life's wider strategy.
• Use strong technical and business knowledge to support informed decision making and successful commercial outcomes.
• Contribute to the legal aspects of transactions and work closely with internal and external legal advisers to support effective execution.
• Deliver robust risk management and governance
• Ensure transactions are delivered in line with relevant risk management and governance requirements.
• Take responsibility for relevant audits, documentation and annual reviews.
• Maintain high standards of accuracy, quality and governance across all areas of transaction delivery.
• Provide technical and strategic expertise
• Act as an actuarial subject matter expert on strategic business and Group level projects.
• Provide specialist technical input to support business decision making and the delivery of strategic priorities.
• Apply knowledge of pension liabilities, complex benefit structures and Bulk Purchase Annuity pricing to support transaction development and execution.
• Use external market developments and internal information to provide meaningful insight and inform commercial decision making.
• Build trusted relationships and communicate with impact
• Build and maintain strong relationships with trustees, sponsors and advisers to UK Defined Benefit pension schemes.
• Communicate complex actuarial and technical information clearly and credibly to specialist audiences.
• Develop trusted relationships across the business, including with Senior Leadership, Finance, Capital Management, Asset Management and Line 2.
• Contribute to relevant pipeline, marketing, brand and PR activity where required.
• Lead, develop and collaborate
• Lead, coach and mentor actuarial trainees and analysts, helping individuals to maximise their contribution and develop their careers.
• Support recruitment activity and the development of a strong internal talent pipeline.
• Work collaboratively across Capital Management and Asset Management to support workload prioritisation and the effective delivery of transactions.
• Identify opportunities to improve processes, ways of working and the use of technology across the transaction process.
• Promote a collaborative, inclusive and high performing culture across the team and wider business.

What are we looking for?

We are looking for an experienced pensions professional with a strong track record of leading and managing the execution of Bulk Purchase Annuity transactions, or similar work gained within an Employee Benefit Consultancy, bulk annuity provider or reinsurer.

You will bring strong technical expertise, including experience valuing pension liabilities and working with complex pension benefit structures.

You will also have experience working directly with trustees, sponsors and advisers to UK Defined Benefit pension schemes, either within an insurer or DB pension consultancy.

Commercially minded and results focused, you will be comfortable overseeing pricing, applying commercial judgement and making effective decisions in a fast moving transaction environment.

You will be able to balance commercial objectives with the need for robust governance, risk management, accuracy and positive customer outcomes.

You will be a confident relationship manager and communicator, able to convey technical actuarial information clearly to specialist audiences while making complex issues accessible to broader business stakeholders.

You will also have experience training, managing and developing more junior colleagues.

Knowledge of the Solvency UK regulatory regime and the pricing of Bulk Purchase Annuity transactions would be beneficial, as would an established network across the Defined Benefit pensions market, including Employee Benefit Consultants, legal firms and professional trustees.

• Personal Attributes
• This role would suit someone who is;
• Commercially astute, applying sound judgement to pricing, negotiation and transaction decision making.
• Technically strong, with the ability to analyse complex pension liabilities, benefit structures and transaction considerations.
• An influential communicator, able to present complex issues and recommendations clearly to stakeholders at all levels.
• Relationship led, building credibility and trusted relationships with clients, advisers and internal stakeholders.
• Results focused, delivering accurate and high quality outcomes within demanding transaction timescales.
• Risk aware, maintaining strong governance and professional standards throughout the transaction process.
• Collaborative, working effectively across organisational boundaries to deliver shared outcomes.
• Improvement focused, identifying opportunities to strengthen processes, technology and ways of working.
• A supportive leader, coaching and developing colleagues while contributing to a strong team culture.

Qualifications & Certifications

• Fellow of the Institute and Faculty of Actuaries.
• Applicants will ideally hold a university degree, or equivalent qualification, in a relevant field.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds.

If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about working at Standard Life

• Guide for Candidates

• Find or get answers from our colleagues