BPA Deal Team Actuary, RS&AM

Overview

Job Type: Permanent

Location and flexible working: This role will be based in our London office (expectation of minimum 2 days per week, as a team) and there will be some flexibility to work between the office and home. We recognise the benefits of flexible working and will discuss what is important to you, balancing this with business requirements during the recruitment process.

Salary and Benefits: from £65,000 (subject to experience and qualification) + bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

We have an incredible and unique opportunity for a BPA Deal Team Actuary to join Standard Life’s award-winning Defined Benefit Solutions team as a BPA Pricing Actuary, supporting the pricing and execution of both BPA and Reinsurance opportunities.

Who are we? We want to be the best place that any of our 6,600 colleagues have ever worked. We’re Phoenix Group, we’re a long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

The Role: This role offers a fantastic opportunity to join our award-winning BPA team during an exciting time in the pensions de-risking industry. As a BPA Pricing Actuary, you’ll take the lead on pricing buy-in opportunities, with a strong focus on analysing large datasets, building complex cashflow models and interpreting scheme‑specific benefit features. You’ll balance technical expertise with commercial knowledge to derive buy-in pricing strategies, which are then communicated to key decision makers within the business. You’ll work closely with other teams to help deliver towards shared goals, which form a key part of Standard Life’s business strategy. This role is ideal for a qualified actuary who enjoys problem‑solving, detailed modelling, and contributing towards high‑value outcomes.

Key Responsibilities:

• Working with the Transaction Managers and Directors on the pricing and execution of bulk annuity transactions
• Leading the production of cash flow and pricing models for BPA transactions, ensuring robust controls and processes are followed
• Working closely with other teams to support BPA pricing and execution on a deal-by-deal basis, including reinsurance, asset management, capital management and operations
• Working with the Deal Lead to navigate complexities and non-standard requests, driving thinking on solutions
• Building, developing, documenting, running and maintaining actuarial models
• Presenting technical content with confidence to internal and external stakeholders
• Development, coaching and training of junior members of the team

What We’re Looking For:

Qualifications: Be a qualified Actuary or near qualified Actuary

Experience, Knowledge and Skills (Essential):

• Practical experience of actuarial cash flow modelling, including development of models for bespoke projects and exercises, and application of actuarial methodologies for setting assumptions
• Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
• Strong problem solving, communication and analytical skills, holistic thinking, and the ability to work quickly and accurately with high attention to detail
• Ideally, have an appreciation of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment along with experience of bulk annuity modelling and pricing

Personal Attributes:

• Strategic thinker who combines detailed analysis with broad, enterprise-level perspective.
• Agility and vision to adapt processes in a transformation and change environment
• Self-starter and independent worker with strong sense of ownership, capable of delivering, driving and shaping results, with strong prioritisation capability

We want to hire the whole version of you. We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you. If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.