Actuarial Analyst

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.

This role supports the Operations Actuarial and Policy Data Management (PDM) teams within PIC\’s Customer Operations department. Both teams work closely with many stakeholders (namely third-party administrators and/or actuarial professional services firms) as well as PIC\’s Origination, Transitions, Pension Services and Reinsurance Operations, Finance Actuarial departments.

Actuarial Analyst, you will support the production and oversight of PIC\’s Factor Tools processes, and support the resolution of actuarial queries, referrals and calculations from PIC\’s internal and external stakeholders including third-party administrators, trustees and their administration providers.

You will also provide subject matter/technical actuarial expertise as required in any context connected to the ‘customer proposition\’ and support the onboarding of new pension schemes and reinsurance treaties to the Policy Data Management (PDM) system.

Specific accountabilities

• Assist with the initial and monthly production of PIC factor tools, reviewing the accuracy of historical factor tools to ensure they are appropriately maintained and well controlled/governed
• Check calculations produced by the factor tools where required, as well as large value CETVs, PCLS and other complex calculations
• Create and maintain spouse trivial commutation tools
• Provide actuarial input into resolution of risk incidents and other considerations relating to the ‘customer proposition\’
• Perform scheme and treaty onboarding (including processing new scheme and reinsurance business in the Policy Data Management system) through analysis of scheme benefit structures, data reconciliation, system preparation and calculation analysis

Requirements

Experience

• Strong academic record in Mathematics, Statistics, Economics or Actuarial Science or related field
• DB Pension experience highly valued / desirable
• Experience of complex data analysis work
• Experience working in a corporate or consulting environment desirable

Knowledge

• Actuarial knowledge and techniques
• Good knowledge of Defined Benefit Pension Schemes preferred
• Basic knowledge of data analysis techniques used for data migration and data reconciliation
• Familiar with pension buy-ins and buy-outs
• Advanced knowledge of MS Excel

Skills

• Strong organisational and strong communication skills
• Effective collaboration with key stakeholders
• Ability to persuade and influence both directly and indirectly
• Ability to manage own time and workload effectively
• Ability to organize work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams

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

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.