Longevity Risk Analyst - 12 months FTC in London

We are seeking a Longevity Risk Analyst to support a growing team responsible for managing increasing volumes of longevity risk. This role combines pricing and reinsurance activities, playing a key part in managing insurance risk and supporting strong commercial outcomes.

The role contributes to the success of the business by supporting the pricing of bulk annuity transactions and the delivery of PIC’s reinsurance strategy, which is central to our risk management approach. You will apply your knowledge of defined benefit (DB) pension schemes and/or UK life insurance to deliver high-quality analysis, support decision-making, and help embed efficient pricing processes.

Specific accountabilities assigned to the role of Longevity Risk Analyst within the Origination team:

• Conducts scheme specific analysis (including experience analysis) for the purpose of setting longevity and demographic assumptions for the buy-in/buy-out process.
• Contributes to reinsurance quotation analysis to help with feedback (and subsequent negotiation) of longevity reinsurance prices.
• Helps to complete the reinsurance process with particular regard to reconciliation of cashflows.
• Effectively collaborates with other members of the Origination team, Finance, Risk and Investments to understand the impact of proposals on the wider business.
• Assists with risk, compliance and internal audit actions.
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Origination.
• Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to bulk annuity pension schemes by attending industry seminars, reading and sharing relevant published articles.

Requirements

Knowledge:

• Good knowledge of Design of UK DB Pension Schemes – including benefit structures and relevant legislation.
• Good knowledge of reinsurance.
• Good knowledge of valuation or pricing principles of DB pension schemes.
• Established knowledge of data analysis techniques.
• Basic level of Investment knowledge useful but not essential.

Skills:

• Strong organisational skills.
• Strong communication skills.
• Strong modelling skills, in particular, Excel based modelling.
• Ability to manage people and other resources effectively.
• Ability to organize work to meet deadlines.
• Ability to work within defined procedures as recommended by functional teams.
• Commercial judgement.

Experience:

• Honours degree in a numerate subject.
• Qualified or part qualified and making continued good progress through Actuarial exams.
• Experience working in a corporate or consulting environment, with knowledge of BPA Pensions and Reinsurance.

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.

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.