Associate, Actuarial and Funding Risk Team

One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. Once successful applicants are on board, we trust our people to work in the way that works best for them, which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.

We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. Recently, we invited our entire workforce to describe in three words what is great about us and they said – our people, flexibility and collaboration.

LPPI is seeking an Associate to work within the Actuarial Risk team. They will bring their modelling skills and knowledge of the wider pensions marketplace to support and enhance the existing capabilities of the funding and contribution risk oversight LPPI provides. The individual should have at least two years of experience in a similar role, strong modelling and analytical skills, interest and understanding of pensions and investment, and good communication skills. They will deliver and develop funding and contribution risk modelling, analysis and reporting for LPPI’s LGPS Partner Funds and stakeholders. This will include the development and monitoring of Partner Fund risk appetite statements, risk management oversight of long-term funding strategy, and maintaining the team’s ALM software.

Key Responsibilities

• Work within the Actuarial and Funding Risk Team.
• Deliver and develop actuarial and funding risk modelling, analysis and reporting for LPPI’s Partner Funds and stakeholders.
• Preparation of funding (asset and liability) risk modelling, using ALM software, covering analysis and oversight of long-term Partner Fund funding and contribution strategy.
• Prepare funding risk reporting before it is issued for checking and review.
• Maintain and enhance funding risk data, models and reporting processes and infrastructure.
• Support development and monitoring of Partner Fund risk appetite statements.
• Provide support to the wider risk, client management and investment strategy teams.
• Provide support to projects from a risk perspective, including climate risk scenario analysis.
• Assist with the preparation of regular reports as required to the CRO, Executive and the Board.
• Support the maintenance of appropriate policies and desk procedures.
• Keep up to date with relevant actuarial, regulatory and financial markets matters; in particular, LGPS regulations and developments.
• Conduct research of wider pensions market and industry level funding considerations, to provide perspective on risk and funding.
• Develop technical skills and knowledge in relation to the role and gain knowledge of systems and processes through application.

Requirements for the role

• At least a 2(i) degree in Mathematics/Finance/Actuarial Science/Sciences or equivalent.
• To have started the actuarial qualifications would be attractive but not essential.
• Demonstrable interest and experience in working in the DB pension fund industry.
• Experience within the pensions industry using asset liability modelling software. Knowledge of Ortec GLASS would be desirable but not essential.
• Good modelling and excel skills. Some prior coding knowledge and experience in using PowerBI or Python would be attractive.
• Confident in answering queries, ability to explain technical issues in simplified terms.
• Ability to work under pressure to tight deadlines, prioritise work effectively and deliver work to a consistent standard of excellence.
• Change orientated and commercially aware, with the ability to produce good quality reports and add tangible value to technical discussions.
• Well-developed numerical, analytical and report writing skills.
• Demonstrable lateral thinking, problem solving, excellent communication skills and attention to detail.
• Adaptable and flexible, proactive, self-motivated.

Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.