At a Glance
- Tasks: Support actuarial processes and collaborate with stakeholders to ensure accurate pension management.
- Company: Join Pension Insurance Corporation, a leader in secure retirement income solutions.
- Benefits: Enjoy competitive salary, private medical insurance, 28 days leave, and a generous pension scheme.
- Other info: Dynamic role with opportunities for growth and innovation in a supportive environment.
- Why this job: Make a real impact on people's futures while developing your actuarial skills.
- Qualifications: Strong academic background in Maths, Stats, or Actuarial Science; DB Pension experience preferred.
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.
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.
As an 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.
RequirementsExperience
- 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.
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.
Actuarial Analyst in London employer: Pension Insurance Corporation plc
At Pension Insurance Corporation, we pride ourselves on being an exceptional employer that fosters a collaborative and inclusive work culture. Our commitment to employee growth is evident through our comprehensive training programmes and opportunities for career advancement, particularly in the dynamic field of DB pensions. Located in a vibrant area, we offer competitive benefits including private medical insurance, generous annual leave, and a supportive environment where every team member can thrive and contribute to meaningful client outcomes.
Contact Details:
Pension Insurance Corporation plc Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Actuarial Analyst in London
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Pension Insurance Corporation on LinkedIn. A friendly chat can give us insider info and maybe even a referral!
✨Tip Number 2
Prepare for the interview by brushing up on your actuarial knowledge and the specifics of Defined Benefit Pension Schemes. We want to show that we’re not just interested, but genuinely knowledgeable about the role.
✨Tip Number 3
Practice those communication skills! Mock interviews with friends can help us articulate our thoughts clearly and confidently, especially when discussing complex data analysis or actuarial queries.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows we’re serious about joining the PIC team!
We think you need these skills to ace Actuarial Analyst in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Actuarial Analyst role. Highlight your academic achievements in Mathematics or Actuarial Science, and any relevant experience with Defined Benefit Pension Schemes. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about actuarial work and how you can contribute to our mission at PIC. Be sure to mention your problem-solving skills and ability to collaborate with stakeholders.
Showcase Your Technical Skills:Don’t forget to highlight your technical skills, especially your proficiency in MS Excel and any experience with data analysis techniques. We love candidates who can demonstrate their analytical prowess and how it can benefit our operations.
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’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Pension Insurance Corporation plc
✨Know Your Numbers
As an Actuarial Analyst, you'll be dealing with complex calculations and data analysis. Brush up on your mathematical skills and be prepared to discuss specific actuarial techniques or tools you've used in the past. This will show your technical expertise and confidence in handling the role's responsibilities.
✨Understand the Company Culture
Familiarise yourself with Pension Insurance Corporation's values: Resilient, Adaptable, and Loyal. Think of examples from your past experiences that demonstrate these qualities. This will help you connect with the interviewers and show that you're a good fit for their culture.
✨Prepare for Scenario Questions
Expect questions that assess your problem-solving skills and ability to handle risk incidents. Prepare by thinking through potential scenarios related to pension schemes or data reconciliation, and how you would approach resolving them. This will highlight your analytical thinking and proactive attitude.
✨Engage with Stakeholders
Since the role involves collaboration with various stakeholders, be ready to discuss your experience in working with different teams or clients. Share specific examples of how you've effectively communicated and influenced others, as this will demonstrate your interpersonal skills and ability to work within a team.
