Pricing Lead

Key member of the Bulk Purchase Annuity (BPA) Pricing team undertaking a variety of different tasks including:

1. Checking the preparation and analysis of Defined Benefit (DB) pension scheme data for pricing, including methods and assumptions for addressing data gaps.
2. Checking the modelling of DB pension scheme cashflows using valuation systems.
3. Supporting and mentoring junior members of the team.
4. Experience investigations for factors affecting pricing assumptions.
5. Carrying out BPA pricing, including Solvency II, UK GAAP and IFRS17 reporting.
6. Provide appropriate support to managers and others to implement recommendations/facilitate change in the pricing models.
7. Ad hoc tasks as required.
8. Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards as set out.
9. Notify the regulator(s) of matters reasonably expected to be notified.

Core Competencies:

1. Knowledge of UK Defined Benefit Pensions and reinsurance structures.
2. Understanding of actuarial concepts related to annuity pricing and valuation.
3. Good communication skills.
4. Ability to work independently.

Experience and Qualifications:
Mandatory:

1. 3 or 4 years of experience of working in DB pensions at an Employee Benefit Consultancy (EBC) or in the BPA team at an insurer / reinsurer.
2. Newly qualified Actuary or nearly qualified with relevant experience either continuing exams or stopped.
3. Experience of DB pension modelling.

Desirable:

1. Experienced in insurance BPA cashflow modelling and pricing or experience of pension scheme buy-outs in a risk transfer team at an EBC.
2. Experience of Mantle systems.

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