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- Tasks: Support the Funded Reinsurance team and analyse market quotations for new business opportunities.
- Company: Pension Insurance Corporation, dedicated to secure retirement incomes and exceptional customer service.
- Benefits: Competitive salary, private medical insurance, 28 days annual leave, and a generous pension scheme.
- Why this job: Join a dynamic team and make a real impact on securing pensions for future generations.
- Qualifications: Qualified or part qualified actuary with experience in corporate or consulting environments.
- Other info: Embrace a culture of learning and innovation with excellent career growth opportunities.
The predicted salary is between 36000 - 60000 £ per year.
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 Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.
A fantastic opportunity has arisen at PIC for a Reinsurance Actuary. The purpose of the role is to support the expansion of PIC\’s Funded Reinsurance team, sitting in the wider Origination department.
You will work closely with our Funded Reinsurance Pricing Manager and assist the Head of Pricing and Funded Reinsurance as well as supporting longevity swap transactions and all senior Deal Leads in the team on larger transactions as required.
You will be a key participant in executing new Funded Reinsurance arrangements and on-boarding new counterparties, help to maintain and grow relationships with Funded Reinsurance counterparties, and help PIC to maintain our existing Funded Reinsurance pricing framework. You will also apply knowledge and insights concerning reinsurance and how this impacts our policyholders.
Specific accountabilities assigned to the role of Reinsurance Actuary within Origination:
- Conducts thorough analysis of quotations from the reinsurance market to develop opportunities for new business transactions.
- Ensuring existing Funded Reinsurance treaties are maintained and collateral is monitored on an ongoing basis.
- Prepare comprehensive reports reflective of the intended audience that demonstrate sound analysis and recommendations for new funded reinsurance arrangements as part of the new business strategy.
- Effectively collaborates with other members of the Origination team, Finance, Risk and Investments to understand the impact of proposals on the wider business.
- Developing working relationships with existing and new funded reinsurance counterparties.
- Takes 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 reinsurance.
- Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to funded reinsurance and bulk annuities by attending industry seminars, reading, and sharing relevant published articles.
Experience:
- 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/or Reinsurance.
Knowledge:
- Good awareness of pricing of longevity risk for defined benefits pension schemes.
- Good understanding of reinsurance pricing and collateral arrangements
- Good knowledge of defined benefits pension schemes -including benefit structures and relevant legislation
- Basic knowledge of legal contracts and negotiation useful.
- Basic level of Investment knowledge useful but not essential.
Skills:
- Strong organisation skills
- Strong communication skills
- Ability to persuade and influence both directly and indirectly
- 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
- Good working knowledge of MS Excel, MS PowerPoint, MS Word
Desirable personal attributes aligned to what success looks like in the role:
- 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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Reinsurance Actuary employer: Pension Corporation
Contact Detail:
Pension Corporation Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Actuary
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out to current employees at PIC. Building relationships can open doors that a CV just can’t.
✨Show Off Your Skills
When you get the chance to chat with someone from PIC, make sure to highlight your analytical skills and knowledge of reinsurance. Share specific examples of how you've tackled challenges in the past – it’ll show you’re the right fit for the Reinsurance Actuary role.
✨Stay Informed
Keep up with the latest trends in reinsurance and pension schemes. Being knowledgeable about market developments will not only impress interviewers but also help you engage in meaningful conversations about the industry.
✨Apply Through Our Website
Don’t forget to apply through the PIC website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in being part of the team.
We think you need these skills to ace Reinsurance Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Reinsurance Actuary role. Highlight relevant experience and skills that align with what we’re looking for, like your knowledge of reinsurance pricing and defined benefit pension schemes.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about this role at PIC and how your background makes you a perfect fit. Don’t forget to mention our values of being Resilient, Adaptable, and Loyal!
Showcase Your Analytical Skills: Since the role involves thorough analysis of quotations and preparing comprehensive reports, make sure to highlight any relevant projects or experiences where you’ve demonstrated strong analytical skills and sound judgement.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Pension Corporation
✨Know Your Numbers
As a Reinsurance Actuary, you'll be dealing with complex data and pricing models. Brush up on your technical skills, especially in data analysis and Excel. Be prepared to discuss specific examples of how you've used these skills in previous roles or projects.
✨Understand the Market
Familiarise yourself with current trends in the reinsurance market, particularly around longevity risk and defined benefit pension schemes. Bring insights to the interview about recent developments or changes in regulations that could impact the role, showing that you're proactive and informed.
✨Showcase Your Communication Skills
Effective communication is key in this role. Prepare to demonstrate how you've successfully collaborated with teams or influenced stakeholders in the past. Think of examples where you’ve had to present complex information clearly and persuasively.
✨Emphasise Your Curiosity
PIC values intellectual curiosity and a willingness to learn. Be ready to share how you stay updated on industry trends and your approach to continuous learning. Discuss any seminars, articles, or courses you've engaged with recently that relate to reinsurance or pensions.
