At a Glance
- Tasks: Lead the Origination Business Partnering team to ensure competitive pricing and effective onboarding of new business.
- Company: Pension Insurance Corporation, dedicated to secure retirement incomes and exceptional customer service.
- Benefits: Inclusive workplace culture, career development opportunities, and a commitment to diversity and innovation.
- Other info: Join a company that values diverse perspectives and fosters a supportive environment.
- Why this job: Make a real impact in the pensions sector while leading a dynamic team.
- Qualifications: Post-qualified experience in pensions or life insurance with strong technical knowledge.
The predicted salary is between 72000 - 108000 £ 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.
PIC is recruiting for a Head of Origination Business Partnering, who will partner with Origination to ensure PIC’s pricing is competitive, appropriate for PIC’s balance sheet, in line with the business plan and reflects the underlying risks. You will work closely with the Risk team to support second line review of pricing, and support the end-to-end process of on-boarding new business by ensuring that relevant information is shared between teams, including balance sheet impacts, unusual features of potential deals, implications for downstream processes and review of performance against pricing metrics. You will also ensure liabilities and reinsurance in the MA portfolio are MA eligible, with any ineligible elements reflected through appropriate deal structuring.
Specific accountabilities assigned to the role of Head of Origination Business Partnering within the Capital, Insight and Actuarial department:
- Support and challenge New Business Pricing: Develop a strong, detailed and deep knowledge of the company’s New Business pricing methodology to support and challenge new proposals by the Origination team, highlighting key balance sheet impacts and known areas of prudence or optimism.
- Perform model review (New Business Pricing Model) of any major development when required.
- Work with Origination and the relevant Heads of Assumptions and Internal Model Change to ensure PIC’s pricing and reserving actuarial assumptions are consistent, highlighting the impact of any material difference to Senior Management.
- Support Origination to develop clear Line 1 papers with compelling business cases highlighting key risks and mitigants to support decision making in committees.
- Support and develop New Business Structuring: Provide ongoing technical support to Origination’s deal leads regarding unusual/complex deal features and MA eligibility, proposing solutions for any eligibility.
- Work with Origination’s Head of Funded Re to develop PIC’s Funded Reinsurance strategy.
- Work with the Co-heads of Origination to develop PIC’s other NB strategy and risk limits and frameworks where required.
- Act as an SME when reviewing proposed new business structures against the Solvency UK regulations and support the Head of Regulatory Affairs in explaining key features of PIC’s new business transactions to the PRA.
- On-boarding of new deals: Ensure timely sharing of information on prospective new BPA deals with other teams within PIC to facilitate smooth on-boarding of new deals, particularly ALM, Legal, Operations Reporting team and the Forecasting and Planning team.
- Work with other members of the Business Partnering team to ensure cashflow matching for new business.
- Team management: Lead and manage the Origination Business Partnering Team (2 direct reports), ensuring the team’s activities are appropriately resourced with the correct knowledge and skillset to deliver the relevant and agreed outcomes for the function.
- Elevate talent to develop and enhance both technical and non-technical skills required to deliver a strong and purposeful Business Partnering team.
- Look to improve processes, ensure scalability and support other ad hoc initiatives across the business.
DEI 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.
Requirements:
- Proven, relevant post-qualified experience (Institute & Faculty of Actuaries or similar).
- Experience working in pensions or life insurance.
- Good technical knowledge of a UK life insurer’s balance sheets (UK Solvency II, IFRS 17).
Head of Origination Business Partnering (Hiring Immediately) in London employer: PIC
Pension Insurance Corporation (PIC) is an exceptional employer that prioritises a culture of resilience, adaptability, and loyalty, making it an ideal workplace for professionals in the pensions and life insurance sector. With a strong commitment to employee development, PIC offers ample opportunities for growth and learning, alongside a diverse and inclusive environment that values every individual's contributions. Located in a dynamic industry, working at PIC means being part of a team that not only drives strategic objectives but also ensures secure retirement incomes for policyholders, fostering a sense of purpose and community among its employees.
StudySmarter Expert Advice🤫
We think this is how you could land Head of Origination Business Partnering (Hiring Immediately) in London
✨Connect with Campus Reps
If you're looking for part-time work in banking, try to connect with your university's career services and campus representatives from banks. They often host recruitment events or provide exclusive job listings, which can give you a leg up in the application process.
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Join finance or investment clubs at your university. These societies not only provide fantastic networking opportunities but also often collaborate with financial institutions for internships or part-time roles, making it easier for us to land those positions.
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Keep an eye on LinkedIn for part-time opportunities at banks, specifically targeting roles like customer service or administrative support. Companies like PIC often post openings there first, so be on the lookout and don’t forget to engage with their content!
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We think you need these skills to ace Head of Origination Business Partnering (Hiring Immediately) in London
Some tips for your application 🫡
Show Off Your Numbers Game:In the banking and financial services world, it's all about numbers. Highlight any relevant coursework, grades, or certifications, like AAT or CFA, on your CV. If you can point to specific projects or tasks where you managed finances or analysed data, that's a big plus!
Tailor Your Cover Letter to Us:When writing your cover letter, don’t just reiterate your CV. Tell us why you want to work at PIC and how this part-time role fits into your career goals. Map your skills and experiences directly to the job spec, and don’t forget to weave in any technical skills you have, like experience with financial software!
Marry Experience with Availability:Since this is part-time, it’s super important to state your availability clearly in your application. Highlight any previous work experience, even if it's not directly in finance, that shows your reliability and ability to juggle various commitments. Flexibility can be a real asset!
Keep It Professional Yet Personal:While you want to keep a professional tone, don’t be afraid to inject a bit of your personality into your application. Especially for a part-time role, we’re looking for someone who's not just skilled but also a good fit for the team at PIC. A little light-heartedness can go a long way!
How to prepare for a job interview at PIC
✨Brush Up on Your Numbers
For a role in banking and financial services, you’ll likely encounter numerical tests that gauge your analytical skills. So, let’s whip out those maths skills! Practise mental arithmetic and get comfy with basic financial concepts; this'll really help you shine during the assessment stages.
✨Know Your Financial Products
Knowing your stuff about the various financial products and services is crucial. Be prepared to discuss topics like loans, mortgages, investment funds, and credit options. Having a finger on the pulse of current market trends and economic events can also give you an edge—the interviewers will appreciate your insight!
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Since you're aiming for a part-time position, emphasise your flexibility and willingness to commit your time effectively. Highlight your ability to balance studies or other commitments while delivering results at work. This kind of attitude can set you apart from the competition.
✨Showcase Your Portfolio of Experience
Even though it’s a part-time role, companies want to see your motivation and past experience. Bring examples of relevant projects or roles, including internships or coursework that demonstrate your understanding and passion for banking and finance. The more tangible your examples, the more convincing you’ll be!
