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- Tasks: Analyse and manage data for pension schemes, ensuring smooth onboarding processes.
- Company: Join Pension Insurance Corporation, a leader in secure retirement incomes.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Why this job: Make a real difference in people's lives by ensuring their pensions are managed effectively.
- Qualifications: Strong background in Maths or related fields; experience with data analysis is a plus.
- Other info: Collaborative team environment with a focus on innovation and personal development.
The predicted salary is between 40000 - 50000 £ 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 Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.
Role purpose
This role sits within the Policy Data Management (PDM) Team, whose responsibility forms part of the end-to-end transition of new business into PIC's operating model. The PDM team works closely with many stakeholders (namely third‑party administrators, Originations, Transitions, Pension Services and Reinsurance Operations, Finance Actuarial and Finance Accounts) to identify and validate all necessary data to support its operations and all downstream systems and processes.
Specific accountabilities assigned to the role of Policy Data Management Analyst within the Customer Operations function:
- Perform scheme and treaty onboarding through analysis of scheme benefit structures, data reconciliation, system preparation and calculation analysis.
- Assist with quarterly data updates by preparing data and analysing results of calculations.
- Raise and chase data issues with third‑party administrators, Pension Services, Reinsurance Ops and Transitions in relation to the above workstreams.
- Raise and chase file delivery issues with third‑party administrators.
- Process new scheme and reinsurance business through setting up scheme and treaty details in the PDM system and provide outputs to the New Business Modelling team.
- Respond to queries raised by experience actuaries, often involving in‑depth analysis of the underlying data within the PDM system.
- Draft, review and maintain procedure guides for the various PDM Team processes.
- Identify issues with the Policy Reference Numbers in intercepted movements and resolve as appropriate.
- Review Policy Reference Numbers and policy statuses for new treaties being loaded to the LISA reinsurance administration system.
Requirements
Knowledge
- Good knowledge of Defined Benefit Pension Schemes preferred.
- Basic knowledge of data analysis techniques used for data migration and data reconciliation.
- Knowledge of pension buy‑ins and buy‑outs.
- Advanced knowledge of MS Excel and MS Word a necessity.
- Good working knowledge of Power BI, SQL, VBA and RAFM an advantage.
Skills
- Strong organisational skills.
- 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.
Experience
- Strong academic record in Mathematics, Statistics, Economics or Actuarial Science or related field, or working toward an APMI qualification.
- Intermediate DB Pension experience.
- Experience of complex data analysis work.
Actuarial Data Analyst (Pensions Onboarding) employer: Pension Insurance Corporation plc
Contact Detail:
Pension Insurance Corporation plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuarial Data Analyst (Pensions Onboarding)
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those who work at Pension Insurance Corporation. A friendly chat can open doors and give you insights that job descriptions just can't.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Defined Benefit Pension Schemes and data analysis techniques. We want you to shine when discussing your skills and how they relate to the role!
✨Tip Number 3
Showcase your organisational skills! During interviews, share examples of how you've managed your time and workload effectively. This will demonstrate that you're ready to tackle the responsibilities of the Actuarial Data Analyst role.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're genuinely interested in joining our team at PIC.
We think you need these skills to ace Actuarial Data Analyst (Pensions Onboarding)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experience mentioned in the job description. Highlight your knowledge of Defined Benefit Pension Schemes and any relevant data analysis techniques you've used. We want to see how you fit into our team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how your background aligns with our values of being Resilient, Adaptable, and Loyal. Let us know what excites you about working with PIC.
Showcase Your Technical Skills: Don’t forget to mention your proficiency in MS Excel, Power BI, SQL, and any other relevant tools. If you have experience with data migration or reconciliation, make sure to include that too. We love seeing candidates who can hit the ground running!
Apply Through Our Website: We encourage you to apply directly through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Pension Insurance Corporation plc
✨Know Your Pensions Inside Out
Make sure you brush up on your knowledge of Defined Benefit Pension Schemes and the intricacies of pension buy-ins and buy-outs. Being able to discuss these topics confidently will show that you're not just familiar with the basics, but that you understand the complexities involved.
✨Show Off Your Data Skills
Since this role involves a lot of data analysis, be prepared to talk about your experience with tools like MS Excel, Power BI, SQL, and VBA. Bring examples of how you've used these tools in past projects, especially in data migration or reconciliation tasks.
✨Communicate Like a Pro
Strong communication skills are key for this position. Practice articulating your thoughts clearly and concisely. Think about how you can explain complex data issues to stakeholders who may not have a technical background, as this will demonstrate your ability to collaborate effectively.
✨Prepare for Scenario Questions
Expect questions that ask how you would handle specific situations, such as resolving data issues with third-party administrators. Prepare some scenarios from your past experiences where you successfully navigated challenges, highlighting your problem-solving and organisational skills.