At a Glance
- Tasks: Support pricing and reinsurance activities in managing longevity risk for pension schemes.
- Company: Join a leading insurance firm focused on innovation and collaboration.
- Benefits: Competitive salary, private medical insurance, 28 days' leave, and a generous pension scheme.
- Other info: Embrace diversity and grow in a supportive environment with excellent career development opportunities.
- Why this job: Make a real impact in the insurance industry while developing your analytical skills.
- Qualifications: Honours degree in a numerate subject; experience in pensions or reinsurance is a plus.
The predicted salary is between 30000 - 40000 £ per year.
We are seeking a Longevity Risk Analyst to support a growing team responsible for managing increasing volumes of longevity risk. This role combines pricing and reinsurance activities, playing a key part in managing insurance risk and supporting strong commercial outcomes. The role contributes to the success of the business by supporting the pricing of bulk annuity transactions and the delivery of PIC’s reinsurance strategy, which is central to our risk management approach. You will apply your knowledge of defined benefit (DB) pension schemes and/or UK life insurance to deliver high-quality analysis, support decision-making, and help embed efficient pricing processes.
Specific accountabilities assigned to the role of Longevity Risk Analyst within the Origination team include:
- Conducting scheme specific analysis (including experience analysis) for the purpose of setting longevity and demographic assumptions for the buy-in/buy-out process.
- Contributing to reinsurance quotation analysis to help with feedback (and subsequent negotiation) of longevity reinsurance prices.
- Helping to complete the reinsurance process with particular regard to reconciliation of cashflows.
- Effectively collaborating with other members of the Origination team, Finance, Risk and Investments to understand the impact of proposals on the wider business.
- Assisting with risk, compliance and internal audit actions.
- Taking ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Origination.
- Keeping informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to bulk annuity pension schemes by attending industry seminars, reading and sharing relevant published articles.
Knowledge
- Good knowledge of Design of UK DB Pension Schemes – including benefit structures and relevant legislation.
- Good knowledge of reinsurance.
- Good knowledge of valuation or pricing principles of DB pension schemes.
- Established knowledge of data analysis techniques.
- Basic level of Investment knowledge useful but not essential.
Skills
- Strong organisational skills.
- Strong communication skills.
- Strong modelling skills, in particular, Excel based modelling.
- Ability to manage people and other resources effectively.
- Ability to organize work to meet deadlines.
- Ability to work within defined procedures as recommended by functional teams.
- Commercial judgement.
Experience
- Honours degree in a numerate subject.
- Qualified or part qualified and making continued good progress through Actuarial exams.
- Experience working in a corporate or consulting environment, with knowledge of BPA Pensions and Reinsurance.
Benefits
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.
Longevity Risk Actuarial Analyst - 12 months FTC employer: LGBT Great
At Pension Insurance Corporation, we pride ourselves on being an excellent employer that fosters a collaborative and inclusive work culture. Our Longevity Risk Actuarial Analyst role offers not only competitive compensation and comprehensive benefits, including private medical insurance and a generous pension scheme, but also ample opportunities for professional growth and development in a dynamic environment. Join us to be part of a team that values diverse perspectives and is committed to driving innovation in the longevity risk space.
