Regulatory Affairs Analyst

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 companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

The role is in the Regulatory Affairs team, which sits in the Risk and Compliance function. The role of the team is to facilitate strong regulatory risk management and ensure a good understanding of regulatory risks, issues and projects across PIC. The team assists the business in ensuring that regulatory risks and issues are considered as part of relevant activity and decision making. As a result, the team works collaboratively with the business to maintain controlled risk taking which delivers long term value.

The Regulatory Affairs team are the owners of PIC’s regulatory strategy including being responsible for managing the relationships with the relevant UK regulators (PRA and FCA). This includes, but is not limited to, management of and challenging regulatory queries and communications, as well as providing regulatory insights and advice. The team works across a variety of activities, including but not limited to first line and risk colleagues, to secure buy-in and implement improvements to systems, processes, and technology, as appropriate.

This also includes:

• To apply knowledge and insights concerning the Regulators and how this impacts PIC and policyholders.
• Proactively horizon scan to identify and analyse emerging trends, regulations and policies to help anticipate future requirements and support the mitigation of risks.
• To deliver strong business outcomes relating to capital, profitability, the Company brand and market reputation whilst achieving positive outcomes on a consistent basis.

Our Company values are expected to be reflected in the delivery and performance of every role.

Specific accountabilities assigned to the role of Regulatory Risk Affairs Manager within the Risk and Compliance Function:

• To work with the team to continue to develop the regulatory engagement across the business to ensure PIC maintains an approach which is fit for purpose and efficient and effective.
• Conduct thorough analysis of regulatory change and support the team in advising the business of an appropriate course of actions.
• Support the team in the timing and nature of responses to regulatory activity, including queries, thematic requests, as well as relevant consultations and policy.
• Able to gather, interpret and use complex data to develop actionable steps that will improve processes and optimise the team activity.
• Manage, with the support of the team, all regulatory reporting, producing regularly and ad-hoc reporting and develop perspective/value-add commentary where needed.
• Taking the lead on developing and optimising the regulatory reporting, utilising new tools and technology.
• Ensuring reporting and data has the appropriate controls and governance in place, in line with PIC’s frameworks and policies, for example appropriate ownership, agreement and record keeping.
• Support the strong regulatory risk culture across the PIC, and to ensure individuals and teams are aware of their obligations, including but not limited to Compliance, risk teams and the first line teams.
• Suggest areas of improvement and make recommendations for what the team can do to deal with any issues identified.
• To work with the team to provide papers to relevant PIC Committee meetings, ensuring they are kept informed of regulatory issues, projects, forward looking activities.
• Support the delivery of briefings to ensure that Executive and Non-Executive Directors are fully briefed on material matters being discussed with the Regulators alongside key emerging themes.
• To ensure accurate records of regulatory discussions and activity are maintained.
• To monitor regulatory communications and to work with the rest of risk and compliance and the business, to ensure we develop our processes to maintain ongoing compliance with changing regulations rules and expectations.

Knowledge

• Knowledge of UK financial services regulations and regulators.
• Must be willing and able to develop knowledge of PIC's business processes, standards, policies and procedures; alongside maintaining broad relevant legal, regulatory and industry requirements.

Skills

• Strong organisational skills.
• Strong working knowledge of MS Office packages, including Power BI and other IT tools.
• Strong communication skills, including written and oral communications.
• Ability to be flexible and prioritise work to meet all relevant deadlines.
• Ability to work within defined procedures as set out by functional teams.
• Ability to consider regulation and apply this in day-to-day work.

Experience

• Experience of working on regulatory or risk issues.
• Experience of working with a variety of business stakeholders.
• Experience/knowledge in project management planning and support.
• Insurance sector experience is desirable.

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 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.