At a Glance
- Tasks: Lead complex pricing and cashflow modelling for Bulk Purchase Annuity transactions.
- Company: Join Standard Life, a leading retirement specialist with over 200 years of experience.
- Benefits: Enjoy a competitive salary, private medical cover, 38 days annual leave, and more.
- Other info: Flexible working options available across multiple locations.
- Why this job: Shape the future of retirement solutions in a rapidly expanding business.
- Qualifications: Qualified Actuary with experience in cash flow modelling and defined benefit pensions.
The predicted salary is between 65000 - 85000 £ per year.
This role would ideally be based in our London office but we are also open to hiring in Edinburgh/Telford/Birmingham, with some flexibility to work between the office and home. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Salary and Benefits: from £65,000 - £85,000 (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
Who are we? We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.
Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.
Role & Team Context: Join Standard Life's growing Pension Risk Transfer (PRT) business at a landmark moment in our journey. Following the announcement of our new PRT partnership and a £2bn capital commitment to accelerate growth, we're entering an exciting new phase as we expand our capability to support a broader range of pension schemes, including some of the largest and most complex transactions in the UK market. As our portfolio continues to grow, the ongoing management, optimisation and delivery of post-transaction solutions has never been more important. As a PRT Pricing Actuary, you'll play a pivotal role in shaping the long-term success of our Bulk Purchase Annuity business, using your actuarial expertise to lead complex pricing, cashflow modelling and in-force transaction activity. This is a unique opportunity to work at the heart of a rapidly expanding business, solve complex challenges, influence strategic outcomes and help shape the future of one of the UK's most ambitious and fastest-growing retirement businesses.
Key Responsibilities:
- Working with the Pricing Managers on the ongoing management of our book of Bulk Purchase Annuity transactions
- Working closely with key internal and external stakeholders such as Client Services in executing data cleanses, including GMP equalisation implementation and the transition to buyout
- Leading the production of cash flow and pricing models for BPAs, ensuring robust controls and processes are followed
- Working with others to navigate complexities and non-standard requests, driving thinking on solutions
- Development, coaching and training of junior members of the team
- Leading on project management to ensure that key contractual requirements and timescales are met
- Building, developing, documenting, running and maintaining actuarial models
- Presenting technical content with confidence to internal and external stakeholders
What We’re Looking For:
Qualifications: Be a qualified Actuary.
Experience & Knowledge (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)
- 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
Skills And Personal Attributes:
- Strong problem solving, communication and analytical skills
- Ability to work quickly and accurately with a high attention to detail
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.
PRT Pricing Actuary (Post-Transaction Pricing) in London employer: Standard Life plc
Standard Life plc is an excellent employer, offering a dynamic work environment that fosters collaboration and innovation within the Cash Management & Oversight team. With flexible hybrid working arrangements between Telford and Birmingham, employees enjoy a strong benefits package, including a discretionary bonus and opportunities for professional growth, making it a rewarding place to build a career in cash management.
StudySmarter Expert Advice🤫
We think this is how you could land PRT Pricing Actuary (Post-Transaction Pricing) in London
✨Dive Into Industry Networking Events
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We think you need these skills to ace PRT Pricing Actuary (Post-Transaction Pricing) in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Standard Life plc.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Standard Life plc. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Standard Life plc
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Standard Life plc to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Standard Life plc, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Standard Life plc's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
