At a Glance
- Tasks: Support pricing and onboarding of new business in a dynamic financial environment.
- Company: Join a leading financial services firm committed to innovation and diversity.
- Benefits: Enjoy competitive salary, private medical insurance, and generous annual leave.
- Other info: Collaborative culture with strong focus on career development and inclusion.
- Why this job: Make a real impact on pricing strategies and enhance your actuarial skills.
- Qualifications: Qualified Actuary with experience in life insurance or pensions.
The predicted salary is between 45000 - 55000 £ per year.
Role purpose
You will work closely with the Origination team in supporting the successful pricing and onboarding of new business.
Help ensure that pricing is competitive, aligned with the business plan, appropriate for the balance sheet and reflective of the underlying risks.
You will also support the end-to-end onboarding of new transactions, ensuring that balance sheet impacts, unusual deal features and downstream implications are understood and communicated effectively.
A further key focus will be ensuring that liabilities and reinsurance within the Matching Adjustment (MA) portfolio meet eligibility requirements, with any ineligible elements appropriately reflected through deal structuring.
Key Responsibilities & Accountabilities
- Assess Matching Adjustment (MA) eligibility for new BPA and reinsurance transactions, supporting appropriate deal structuring to ensure compliance.
- Review and challenge new business pricing, ensuring it is competitive, reflects underlying risks and is appropriate for PIC’s balance sheet.
- Assess and communicate the balance sheet impact of prospective transactions and support the effective onboarding of new business.
- Partner closely with Origination, Actuarial, Risk, Legal and Operations to support the successful delivery of new BPA and reinsurance transactions.
- Drive improvements to pricing, business partnering and MA processes, enhancing commerciality, efficiency and risk management.
- Key skills and experience
Ideally, you will have experience working within a regulated financial services environment and an understanding of the FCA and PRA regulatory frameworks.
- Technical Attributes
- Qualified Actuary with the Institute and Faculty of Actuaries (IFo A), or an equivalent professional qualification.
- Strong technical understanding of UK life insurance balance sheets, including Solvency II and IFRS 17, together with established actuarial modelling and analytical skills.
- Good knowledge of the UK DB pensions and Bulk Purchase Annuity (BPA) market, including the Matching Adjustment and relevant regulatory requirements.
- Experience within life insurance or pensions, ideally gained in a commercially focused, pricing or new business environment.
- Strong relationship-building skills, with experience working collaboratively across multidisciplinary teams.
- Personal Attributes
- Strong communication and influencing skills, with the ability to build effective relationships across a range of stakeholders.
- Excellent numerical and analytical capability, with the confidence to assess, challenge and evaluate new or complex concepts.
- Strong commercial judgement, balancing commercial opportunities with risk and regulatory considerations.
- Highly organised and delivery-focused, with the ability to prioritise effectively and meet deadlines in a fast-paced environment.
- DE&I at PIC
At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences.
We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed.
We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community.
While we’re proud of our progress, we recognise there’s work ahead, and we remain dedicated to listening, learning and evolving together.
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’ll have access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection, and much more.
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Senior Actuary - 12 month fixed term contract employer: Pension Insurance Corporation
Pension Insurance Corporation is an exceptional employer that fosters a collaborative and innovative work culture, where your expertise as a Principal C# Architect & Engineering Leader will be valued and impactful. With a strong focus on employee growth, we offer mentorship opportunities and the chance to shape technology strategy in a supportive environment, all while contributing to meaningful projects that enhance our digital services. Located in a vibrant area, we provide a dynamic workplace that encourages professional development and work-life balance.
Contact Details:
Pension Insurance Corporation Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuary - 12 month fixed term contract
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We think you need these skills to ace Senior Actuary - 12 month fixed term contract
Some tips for your application 🫡
Show Off Your Academic Achievements:In banking and financial services, your academic record can really make you stand out. List relevant grades, certifications, or coursework on your CV, especially if you've taken finance-related modules. This is particularly important for a temporary role where qualifications can help you shine even brighter!
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Tailor Your Cover Letter Purposefully:When writing your cover letter, focus on why you’re interested in a temporary position at Pension Insurance Corporation. Let them know how you can quickly adapt to the team's needs and how eager you are to learn the ropes of the banking sector during this short stint. Your motivation and enthusiasm could really set you apart!
Be Prepared with References:For temporary roles, references can play a crucial role in your application. Make sure you’ve got a couple of references lined up who can vouch for your skills and work ethic. This helps to give Pension Insurance Corporation confidence in your short-term commitment to the role.
How to prepare for a job interview at Pension Insurance Corporation
✨Brush Up on Financial Regulations
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Prepare for interview questions that assess your analytical abilities. You might need to tackle hypothetical scenarios involving risk assessment or financial forecasting. Bringing examples of relevant projects or coursework can emphasise your practical understanding of these concepts.
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For a temporary role, showing that you can quickly pick up new processes and tools is crucial. Be ready to discuss previous experiences where you had to adapt to changing requirements or tight deadlines, as this will reassure Pension Insurance Corporation that you’re a reliable team player.
✨Demonstrate a Willingness to Learn
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