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- Tasks: Lead the implementation and management of Bulk Purchase Annuity operations.
- Company: Join the UK's largest mutual insurer, focused on financial resilience.
- Benefits: Enjoy 28 days leave, up to 14% pension matching, and private medical insurance.
- Why this job: Be part of a growing team shaping the future of bulk annuities.
- Qualifications: Experience in BPAs and defined benefit pensions preferred; relevant qualifications are a plus.
- Other info: Professional training support available; inclusive workplace culture celebrated.
The predicted salary is between 43200 - 72000 £ per year.
The Actuary Group is currently looking for a Senior BPA Implementation Operations Manager to join a new and growing Bulk Annuities team that is part of the UK’s largest mutual insurer.
In this role you will oversee, and support activities associated with the implementation and ongoing administration of Bulk Purchase Annuity (BPA) business. You will cover a range of one-off and ongoing management activities from implementation through buy-in and transition to buy-out.
This is an exciting time to join the company. Bulk annuities are a key area of growth, and you will have the opportunity to be instrumental in shaping the team early on whilst working with a range of talented colleagues. Our client believes that they are ideally placed to be a partner of choice for trustees of defined benefit schemes, helping to build financial resilience.
About the role
The role holder will be responsible for the day-to-day management of the following activities:
- Pre-execution data and operational complexity due diligence.
- Scheme onboarding.
- Scheme trustee and administrator management.
- Shadow administration (including buy-in payroll, member option validation and movement processing).
- Data flow and control.
- Data cleanse and true-up.
- Transition to buy-out (including policyholder communication and admin and payroll transition).
- Ongoing reporting (including production and review of management information and valuation extracts).
About you
- Experience in BPAs preferable, with an understanding of defined benefit pensions administration.
- Experience with reviewing contracts, with the ability to extract relevant information to plan for key milestones.
- Understanding of reinsurance is desirable.
- Comfortable with and good understanding of actuarial spreadsheet models.
- Appreciation of operational challenges that can arise from data migration and ongoing management.
- Understanding of the defined benefit pension market, if not direct work experience.
- Comfortable checking calculation proforma inputs and sense checking outputs.
- Relevant qualifications desirable (e.g. APMI). Our client will support the undertaking of professional training where appropriate.
- Credible individual, with a financial background
- Experience with managing senior stakeholders.
About the company
Our client is the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.
Their People Promise to their colleagues is that they will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by the company’s values; Empowered, Trustworthy, Collaborate, Achieve.
Our client has always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.
Inclusion, diversity and belonging
Our client is an Inclusive employer. They celebrate and value different backgrounds and cultures. Their diverse people and perspectives give them a range of skills which are recognised and respected.
Senior BPA Implementation Operations Manager employer: The Actuary Group
Contact Detail:
The Actuary Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior BPA Implementation Operations Manager
✨Tip Number 1
Familiarize yourself with the Bulk Purchase Annuity (BPA) landscape. Understanding the nuances of defined benefit pensions administration and the specific challenges that come with it will give you a significant edge during discussions.
✨Tip Number 2
Network with professionals in the actuarial and pensions field. Engaging with industry peers can provide insights into best practices and may even lead to referrals, which can be invaluable when applying for this role.
✨Tip Number 3
Prepare to discuss your experience with managing senior stakeholders. This role requires strong interpersonal skills, so be ready to share examples of how you've successfully navigated complex relationships in previous positions.
✨Tip Number 4
Stay updated on the latest trends and regulations in the defined benefit pension market. Demonstrating your knowledge of current events and changes in the industry during interviews will show your commitment and expertise.
We think you need these skills to ace Senior BPA Implementation Operations Manager
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the BPA Implementation Operations Manager position. Make sure you understand the key responsibilities and required skills, as this will help you tailor your application.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience with Bulk Purchase Annuities and defined benefit pensions administration. Provide specific examples of past roles where you managed similar tasks or projects.
Showcase Your Skills: Demonstrate your understanding of actuarial spreadsheet models and data management in your application. Mention any relevant qualifications, such as APMI, and how they relate to the role.
Tailor Your Cover Letter: Craft a personalized cover letter that reflects your enthusiasm for the role and the company. Discuss how your values align with the company's People Promise and their commitment to inclusion and diversity.
How to prepare for a job interview at The Actuary Group
✨Understand the BPA Landscape
Make sure you have a solid grasp of Bulk Purchase Annuities and the defined benefit pension market. Familiarize yourself with recent trends and challenges in this area, as it will show your genuine interest and expertise during the interview.
✨Showcase Your Stakeholder Management Skills
Prepare examples that demonstrate your experience in managing senior stakeholders. Highlight how you've successfully navigated complex relationships and ensured effective communication in previous roles.
✨Be Ready to Discuss Operational Challenges
Think about potential operational challenges that can arise from data migration and ongoing management. Be prepared to discuss how you would approach these issues and provide solutions based on your past experiences.
✨Highlight Your Analytical Skills
Since the role involves working with actuarial spreadsheet models, be ready to discuss your analytical skills. Provide examples of how you've used data analysis to inform decision-making and improve processes in your previous positions.
