At a Glance
- Tasks: Lead pricing for bulk annuity transactions and support junior team members.
- Company: A trusted financial firm with a strong heritage in securing futures.
- Benefits: Accelerate your career in a growing business with impactful work.
- Other info: Opportunity to mentor and influence change in pricing models.
- Why this job: Join a dynamic team during an exciting growth phase in the insurance market.
- Qualifications: 4+ years in DB pensions, qualified or nearly qualified actuary.
The predicted salary is between 36000 - 60000 € per year.
Our client has a proud heritage in helping people secure their financial futures. They are continuing to build on that foundation and are growing their thriving bulk annuity business, partnering with pension schemes to protect members’ retirement benefits. This is a fantastic opportunity to join them in an exciting period of exponential growth and be part of a trusted business, where your work makes a real difference and you can accelerate your career. This position reports to the Head of Pricing and plays an integral role in the Bulk Purchase Annuity team.
Working independently, you'll undertake a variety of different tasks to enable the department to meet its objectives, including:
- Leading the pricing of BPA transactions from initial triage through to deal execution.
- Checking the preparation and analysis of Defined Benefit (DB) pension scheme data for pricing, including methods and assumptions for addressing data gaps.
- Checking the modelling of DB pension scheme cashflows using valuation systems.
- Carrying out BPA pricing, including Solvency II, UK GAAP and IFRS17 reporting, including preparation of pricing reports to be discussed with senior management.
- Support in reviewing individual member option quotes and leading true up calculations post buy-in.
- Lead and implement recommendations/facilitate change in the pricing models.
- Perform experience investigations for factors affecting pricing assumptions.
- Supporting and mentoring junior members of the team.
- Ad hoc tasks as required.
Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards.
Core competencies:
- Knowledge of UK Defined Benefit Pensions and liabilities.
- Liability modelling and cashflow projections.
- Familiarity with buy-ins, buy-outs and longevity swaps.
- Knowledge of UK BPA market dynamics.
- Good communication skills.
- Ability to work independently.
Experience and qualifications (mandatory):
- Over 4 years of experience of working in DB pensions at an Employee Benefit Consultancy (EBC) or in the BPA team at an insurer/reinsurer.
- Qualified Actuary or nearly qualified with relevant experience either continuing exams or stopped.
- Experience of DB pension modelling.
- Experienced in insurance BPA cashflow modelling and pricing or experience of pension scheme buy-outs in a risk transfer team at an EBC.
- Experience of pricing tools and modelling.
- Experience of Mantle valuation system.
If you think these skills align well with your own and you're keen to join a progressive company involved in one of the most robust and mature insurance markets globally, please apply today.
BPA Pricing Lead employer: The Actuary Group
Join a forward-thinking company that values your contributions and offers a supportive work culture where your expertise in pricing can truly shine. With a commitment to employee growth, you will have access to mentorship opportunities and the chance to lead impactful projects in a thriving bulk annuity business. Located in a dynamic environment, this role not only allows you to make a meaningful difference in securing financial futures but also accelerates your career in one of the most established insurance markets worldwide.
StudySmarter Expert Advice🤫
We think this is how you could land BPA Pricing Lead
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend relevant events, and don’t be shy about asking for introductions. We all know that sometimes it’s not just what you know, but who you know that can land you that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their approach to bulk annuities and be ready to discuss how your experience aligns with their needs. We want you to shine, so practice common interview questions and have your own questions ready!
✨Tip Number 3
Showcase your skills through real-life examples. When discussing your experience, highlight specific projects or challenges you've tackled in DB pensions or BPA pricing. We love hearing about your successes and how you’ve made an impact in previous roles.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we’re always on the lookout for passionate individuals who are eager to make a difference in the financial futures of others.
We think you need these skills to ace BPA Pricing Lead
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the BPA Pricing Lead role. Highlight your experience with DB pensions and any relevant qualifications. We want to see how your skills align with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how you can contribute to our team. Keep it concise but impactful – we love a good story!
Showcase Relevant Experience:When detailing your experience, focus on your work with pricing models and cashflow projections. We’re keen to see examples of how you've led projects or mentored others in the field.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at The Actuary Group
✨Know Your Numbers
Make sure you brush up on your knowledge of UK Defined Benefit pensions and the specifics of liability modelling. Be prepared to discuss how you've used these skills in previous roles, especially in relation to pricing tools and cashflow projections.
✨Showcase Your Experience
Highlight your experience in DB pensions, particularly if you've worked at an Employee Benefit Consultancy or in a BPA team. Be ready to share specific examples of how you've led pricing transactions or implemented changes in pricing models.
✨Communicate Clearly
Good communication skills are key for this role. Practice explaining complex concepts in simple terms, as you may need to present pricing reports to senior management. Think about how you can convey your ideas effectively during the interview.
✨Be a Team Player
Since mentoring junior members is part of the job, be prepared to discuss your approach to teamwork and leadership. Share examples of how you've supported colleagues in the past and how you plan to contribute to the team's success.
