At a Glance
- Tasks: Lead pricing for bulk annuity transactions and mentor junior team members.
- Company: A trusted business with a proud heritage in securing financial futures.
- Benefits: Accelerate your career in a growing company with a meaningful impact.
- Other info: Opportunity to work independently and influence pricing models.
- Why this job: Join a dynamic team during an exciting growth phase in the pensions sector.
- 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.
Pensions Team Leader (Permanent) in England employer: The Actuary Group
Join a forward-thinking company with a rich history in securing financial futures, where your contributions directly impact the lives of pension scheme members. With a strong focus on employee development and a collaborative work culture, this role offers you the chance to lead a dynamic team in a thriving sector, all while enjoying the benefits of working in a supportive environment that values innovation and growth.
StudySmarter Expert Advice🤫
We think this is how you could land Pensions Team Leader (Permanent) in England
✨Tip Number 1
Network like a pro! Reach out to your connections in the pensions industry and let them know you're on the lookout for opportunities. You never know who might have a lead or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of UK Defined Benefit Pensions and the latest market dynamics. Show them you’re not just a candidate, but someone who’s genuinely interested in making a difference in their team.
✨Tip Number 3
Practice your communication skills! Being able to explain complex pension concepts clearly is key. Try explaining your experience with BPA pricing or cashflow modelling to a friend – it’ll help you nail those interview questions.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search!
We think you need these skills to ace Pensions Team Leader (Permanent) 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:Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how your background aligns with our needs. Don’t forget to mention your experience in BPA transactions and your ability to work independently.
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 convey complex information 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 Pensions Inside Out
Make sure you brush up on your knowledge of UK Defined Benefit pensions and the current market dynamics. Being able to discuss specific examples of your experience with buy-ins, buy-outs, and longevity swaps will show that you're not just familiar with the terms but have practical insights to share.
✨Showcase Your Analytical Skills
Prepare to discuss your experience with liability modelling and cashflow projections. Bring along examples of how you've tackled data gaps in pricing or how you've implemented changes in pricing models. This will demonstrate your ability to lead and innovate within the team.
✨Communicate Clearly and Confidently
Good communication skills are essential for this role. Practice explaining complex concepts in simple terms, as you may need to present pricing reports to senior management. Being clear and confident in your delivery can set you apart from other candidates.
✨Be Ready to Mentor
Since the role involves supporting and mentoring junior team members, think about your past experiences in leadership or training. Be prepared to discuss how you’ve helped others grow in their roles, as this shows you’re a team player who values collaboration.
