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- Tasks: Join our team as a Pricing Actuary, managing BPA transactions and developing cash flow models.
- Company: Nationwide Building Society is a leading insurance client with £290 billion in assets.
- Benefits: Enjoy a full-time role with opportunities for development and training in a dynamic environment.
- Why this job: Be part of a collaborative culture, tackling complex challenges and making a real impact.
- Qualifications: Qualified or near-qualified actuary with experience in cash flow modelling and defined benefit pensions.
- Other info: This is a mid-senior level position based in London, perfect for ambitious individuals.
The predicted salary is between 78000 - 130000 £ per year.
2 days ago Be among the first 25 applicants
Direct message the job poster from Lorien
Delivery Lead at Nationwide Building Society –
We have an incredible and unique opportunity to join our Insurance client based in London with around £290 billion of assets under administration as a BPA Pricing Actuary, pricing and managing our extensive book of BPA clients.
The role
- Working with the Pricing Managers on the ongoing management of our book of Bulk Purchase Annuity transactions.
- Working closely with key internal and external stakeholders such as Client Services in executing data cleanses, including GMP equalisation implementation and the transition to buyout
- Leading the production of cash flow and pricing models for BPAs, ensuring robust controls and processes are followed
- Working with others to navigate complexities and non-standard requests, driving thinking on solutions
- Development, coaching and training of junior members of the team
- Leading on project management to ensure that key contractual requirements and timescales are met
- Building, developing, documenting, running and maintaining actuarial models
- Presenting technical content with confidence to internal and external stakeholders
What We’re Looking For
- Be a qualified actuary or near qualified actuary
- Practical experience of actuarial cash flow modelling, including development of models for bespoke projects and exercises, and application of actuarial methodologies for setting assumptions
- Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
- Strong problem solving, communication and analytical skills, and the ability to work quickly and accurately with a high attention to detail
- Ideally have an appreciation of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment along with experience of bulk annuity modelling and pricing
If this role is of interest and you\’d like more info please apply with your CV or drop me a message to set up a call.
Seniority level
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Seniority level
Mid-Senior level
Employment type
-
Employment type
Full-time
Job function
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Job function
Finance and Other
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Industries
Insurance
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Pricing Actuary - BPA / Pensions employer: Lorien
Contact Detail:
Lorien Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Actuary - BPA / Pensions
✨Tip Number 1
Network with professionals in the actuarial field, especially those who work in pensions and bulk purchase annuities. Attend industry events or webinars to connect with potential colleagues and learn more about the latest trends and challenges in the sector.
✨Tip Number 2
Familiarise yourself with the specific actuarial software and modelling techniques used in BPA pricing. If possible, take online courses or tutorials to enhance your skills in cash flow modelling and GMP equalisation, as these are crucial for the role.
✨Tip Number 3
Prepare to discuss your problem-solving approach during interviews. Think of examples where you've navigated complex actuarial challenges or led projects, as this will demonstrate your capability to handle the responsibilities outlined in the job description.
✨Tip Number 4
Research the regulatory environment surrounding defined benefit pensions, particularly Solvency II and the Matching Adjustment. Being well-versed in these topics will not only help you in interviews but also show your commitment to understanding the industry's intricacies.
We think you need these skills to ace Pricing Actuary - BPA / Pensions
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in actuarial cash flow modelling and your qualifications as an actuary. Emphasise any specific projects or roles that align with the responsibilities of a Pricing Actuary.
Craft a Strong Cover Letter: Write a cover letter that showcases your understanding of defined benefit pensions and your problem-solving skills. Mention your experience with GMP equalisation and bulk annuity pricing to demonstrate your fit for the role.
Highlight Technical Skills: In your application, clearly outline your technical knowledge related to actuarial methodologies and financial services regulations like Solvency II. This will show that you are well-versed in the complexities of the industry.
Showcase Communication Abilities: Since the role involves presenting technical content to stakeholders, include examples in your application where you've successfully communicated complex information. This could be through presentations, reports, or team collaborations.
How to prepare for a job interview at Lorien
✨Showcase Your Technical Knowledge
Make sure to brush up on your understanding of defined benefit pensions and actuarial cash flow modelling. Be prepared to discuss specific methodologies you've used in the past, especially regarding GMP benefits and pricing models.
✨Demonstrate Problem-Solving Skills
Prepare examples of complex problems you've solved in previous roles. Highlight your analytical skills and how you navigated through non-standard requests, as this will show your ability to think critically under pressure.
✨Communicate with Confidence
Practice presenting technical content clearly and confidently. You may be asked to explain complex concepts to stakeholders, so being able to communicate effectively is key. Consider doing mock presentations to refine your delivery.
✨Understand the Regulatory Environment
Familiarise yourself with the regulatory frameworks relevant to the role, such as Solvency II and the Matching Adjustment. Being knowledgeable about these regulations will demonstrate your commitment to the industry and your readiness for the role.
