At a Glance
- Tasks: Lead pricing for Bulk Purchase Annuity transactions and support junior team members.
- Company: A trusted financial firm with a strong heritage in securing financial futures.
- Benefits: Accelerate your career in a growing business with impactful work.
- Other info: Dynamic environment with opportunities for mentorship and professional growth.
- Why this job: Join a progressive company in a robust insurance market and make a real difference.
- 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 will 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 are keen to join a progressive company involved in one of the most robust and mature insurance markets globally, please apply today.
BPA Pricing Lead in England employer: The Actuary Group
Join a forward-thinking company that is dedicated to securing financial futures and fostering a culture of growth and collaboration. As a BPA Pricing Lead, you will not only play a pivotal role in shaping the future of bulk annuities but also benefit from a supportive environment that encourages professional development and mentorship. With a commitment to excellence and a focus on making a meaningful impact, this is an exceptional opportunity to advance your career in a thriving sector.
StudySmarter Expert Advice🤫
We think this is how you could land BPA Pricing Lead in England
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, or even reach out to folks on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that BPA Pricing Lead role.
✨Ace the Interview
Prepare for your interviews by researching the company and understanding their values. We recommend practising common interview questions and having examples ready that showcase your experience in DB pensions and pricing models. Confidence is key!
✨Showcase Your Skills
When you get the chance to meet potential employers, don’t hold back! Share your knowledge about UK Defined Benefit Pensions and your experience with cashflow projections. We want to see how you can bring value to the team and make a real difference.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we’re always looking for passionate individuals who are eager to grow with us in this exciting period of growth.
We think you need these skills to ace BPA Pricing Lead in England
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experience mentioned in the job description. Highlight your knowledge of UK Defined Benefit Pensions and any relevant modelling experience to catch our eye!
Craft a Compelling Cover Letter:Use your cover letter to tell us why you're the perfect fit for the BPA Pricing Lead role. Share specific examples of your past work that align with the responsibilities listed, like leading pricing transactions or mentoring team members.
Showcase Your Communication Skills:Since good communication is key for this role, make sure your application is clear and concise. Use straightforward language and structure your thoughts logically to demonstrate your ability to communicate effectively.
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’re considered for this exciting opportunity in our growing team!
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 associated liabilities. Be prepared to discuss specific examples of how you've handled pricing models and cashflow projections in your previous roles.
✨Showcase Your Experience
Highlight your experience in DB pensions, especially if you've worked at an Employee Benefit Consultancy or within a BPA team. Be ready to share detailed stories about your involvement in pricing transactions and any challenges you overcame.
✨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 leadership style and how you support others in a team setting. Share examples of how you've facilitated change or improved processes in your past roles.
