Senior Investment Actuary

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilience, Adaptable, and Loyal. Our Company values are expected to be reflected in the delivery and performance of every role.

PIC is recruiting for a Senior Investment Actuary whose role will entail generating value by leveraging deep understanding of the insurance business model combined with investment expertise to:

Take the lead on asset specific initiatives within PIC Capital within the Investments function specifically to identify, analyse, originate, structure and manage assets that are within our risk appetite in partnership with internal stakeholders (especially, but not limited to, asset origination teams) to deliver strong business outcomes aligned to PIC’s strategic objectives.

Provide expertise and market insight to our internal stakeholders on asset origination and management (such as for Equity Release Mortgages).

Take ownership of the design and implementation of strategic initiatives aligned to the investment strategy and partner with the Head of Technical Investment Strategy and other senior members to effectively incorporate it into PIC’s strategic objectives.

Specific Accountabilities:

• Deploying the relevant skills, knowledge and expertise to positively influence internal stakeholders to achieve strong financial outcomes for PIC.
• Develop a regular cadence of communication, both in written and verbal format, on technical investment strategy activities, risk levels, and incidents that can be easily transferred into management information packs for circulation to senior management, Committee meetings and Boards.
• Acts as a change agent leveraging a skillful understanding of persuasion and influence to key internal stakeholders knowing which techniques to deploy while remaining a trusted advisor to the Head of Technical Investment Strategy.
• Provide technical guidance and support to the PIC Capital team on deal structuring, internal pricing/balance sheet implications to include but not limited to hedging.
• Deals confidently in the preparation of matching adjustment application materials (from an investment perspective) and Capital Resources Committee for the purpose of addressing requests from the relevant committees and regulators.
• Attract, engage and retain less experienced team members with the purpose of developing their technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills.
• Role model strong technical and interpersonal skills to elevate the profile of PIC Capital and the wider Investments function utilising PIC’s values and behaviours both internally and externally in the markets we currently operate or are seeking to enter.
• Proactively collaborate with colleagues in the business drawing upon their expertise and experience with the intention of giving due care and attention to investments decisions within the context of their ESG impact.
• Provide technical guidance and advice on Financial Modelling across PIC Capital, creating appropriate models and processes to effectively enhance PIC Strategic Equity investments both during initial deal review and during operational phase.
• Keeps informed of industry trends, market developments, regulatory changes in the private asset space and relevant sectors, by attending industry seminars, reading and sharing relevant published articles.

Experience:

• Recognised qualification in the relevant field of study or a strong employment record in Actuarial, Economics, Asset Management, Capital Modelling, Investment Management.
• Proven track record of experience and management of a range of asset classes in the context of insurance investing.
• Strong demonstrable experience of investment and balance sheet management.
• Experience of working within a regulated environment would be an advantage.
• Strong demonstrable experience of applying effective analysis, structure and management of a business model that can be easily transferred into management information packs for circulation to senior leadership and Committee meetings.

Knowledge:

• Expert knowledge of the Solvency II regulatory framework and its applicability within financial services, within the context of life insurance would be an advantage.
• Expert knowledge of insurance business models as it applies to asset management.
• Expert knowledge of Asset Liability Management and capital principles within an insurance context.
• Knowledge of various asset classes to include but not limited to Mortgages and Private Assets with varying degrees of competency level across each asset within an insurance context.
• Strong knowledge of actuarial concepts and techniques applied to asset management and capital modelling.

Skills:

• Strong problem-solving skills.
• Strong interpersonal skills.
• Strong organisational skills.
• Strong communication skills.
• Ability to persuade and influence both directly and indirectly.
• Aptitude for preparing comprehensive reports to suit different audiences.
• Ability to conceptualise and lead others in solving specific problems.
• Ability to organize work to meet deadlines.
• Ability to work within defined procedures as recommended by functional teams.
• Strategic and innovative thinker.
• Strong commercial judgement.
• Advanced knowledge of MS Excel.
• Good working knowledge of MS Access, MS PowerPoint, MS Word.

Desirable Personal Attributes:

• Intellectually curious with a willingness to learn through own research.
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
• Effective communicator – structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• Innovative thinker – positive attitude to change and a willingness to embrace new ideas and techniques to improve performance.

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days’ annual leave (excluding bank holidays), a generous pension scheme and much more.

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