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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 annual 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 with talented colleagues.
- Qualifications: Experience in BPAs and defined benefit pensions administration preferred; relevant qualifications are a plus.
- Other info: Our client values diversity and offers professional training opportunities.
The predicted salary is between 43200 - 72000 £ per year.
Job Description
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 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.
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Senior BPA Implementation Operations Manager employer: ZipRecruiter
Contact Detail:
ZipRecruiter 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) market. Understanding the nuances of BPAs and defined benefit pensions will give you a significant edge during interviews, as you'll be able to speak confidently about industry trends and challenges.
✨Tip Number 2
Network with professionals in the pensions and insurance sectors. Attend relevant industry events or webinars to connect with potential colleagues and learn more about the company culture and expectations, which can help you tailor your approach.
✨Tip Number 3
Prepare to discuss your experience with managing senior stakeholders. Think of specific examples where you've successfully navigated complex relationships, as this role requires strong interpersonal skills and the ability to influence decision-making.
✨Tip Number 4
Brush up on your actuarial spreadsheet models. Being comfortable with these tools is crucial for the role, so practice using them to ensure you're ready to demonstrate your technical skills during the interview process.
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 Senior BPA Implementation Operations Manager position. Make sure you understand the key responsibilities and required skills, especially those related to Bulk Purchase Annuities and defined benefit pensions administration.
Tailor Your CV: Customize your CV to highlight relevant experience in BPAs, contract review, and stakeholder management. Emphasize any specific achievements or projects that demonstrate your ability to handle operational complexities and data management.
Craft a Compelling Cover Letter: Write a cover letter that connects your background and skills to the role. Mention your understanding of the defined benefit pension market and how your experience aligns with the company's values of empowerment, trust, collaboration, and achievement.
Highlight Relevant Qualifications: If you have relevant qualifications such as APMI or experience with actuarial spreadsheet models, make sure to mention these in both your CV and cover letter. This will strengthen your application and show your commitment to professional development.
How to prepare for a job interview at ZipRecruiter
✨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 of how you've successfully managed senior stakeholders in previous roles. Highlight your communication strategies and how you navigated complex situations to achieve positive outcomes.
✨Demonstrate Analytical Skills
Be ready to discuss your experience with actuarial spreadsheet models and data management. You might be asked to solve a problem or analyze a scenario, so practice articulating your thought process clearly.
✨Align with Company Values
Research the company's values—Empowered, Trustworthy, Collaborate, Achieve—and think about how your personal values align with them. Be prepared to share specific examples that demonstrate these qualities in your work.
