Graduate Actuarial Analyst

4 weeks ago

London, United Kingdom PIC Full time
Pension Insurance Corporation ("PIC") provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilience, Adaptable, and Loyal.
  • PIC has an exciting opportunity for a graduate to join its Origination department. The department is responsible for:
  • Marketing and originating new bulk annuity opportunities
  • Pricing and structuring of these bulk annuity transactions
  • Managing negotiations with the trustee/company, through their advisors
  • Assisting other PIC departments with the onboarding and long-term implementation of new business wins, within our End-to-End Process framework

You will provide junior-level support to the development of transactions, in particular pricing, bid preparation, committee papers and transaction management, and you will liaise directly with other departments such as the Investments team, the Market Solutions team, the Longevity Risk Management team, the Finance team and the Operations team. The end product is a tailored and competitively priced proposal to prospective clients, ultimately leading to new business and contributing to PIC's business strategy. The individual will formally report to one the Senior Actuaries in Origination but will support all deal leaders, as well as the team as a whole. Our Company values are expected to be reflected in the delivery and performance of every role.

Your role will include:
  • Conducts thorough analysis of data and benefits for bulk annuity tenders to develop opportunities for new business transactions.
  • Prepare comprehensive reports reflective of the intended audience that demonstrate sound analysis and recommendations for bulk annuity transactions as part of the new business strategy.
  • Analysis of feedback received on new business quotations and how we are positioned in the market to develop strategy on new business transactions.
  • Effectively collaborates with other members of the Origination team, Reinsurance, Finance, and Investments to understand the impact of proposals on the wider business.
  • Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of reinsurance and new business pricing.
  • Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to funded reinsurance and bulk annuities by attending industry seminars, reading, and sharing relevant published articles.
  • Preparation of key management information (MI) to be delivered to key business units: finance, legal, operations, investments and risk.

Requirements

Experience
  • Strong academic record in Mathematics, Statistics, Economics or Actuarial Science or related field
  • Capable and willing to work towards achieving actuarial qualifications

Knowledge
  • Advanced numeracy (familiarity, dexterity and intuition in more advanced mathematical functions including compound interest and discounting)
  • Knowledge of data analysis
  • Excel skills to an 'Intermediate' level of functionality (e.g. data manipulation, lookups or index match).
  • Comfortable with completing data analysis in excel with use of formulae.
  • A good understanding of financial services industry best practice in actuarial analysis relating to Defined Benefits pensions, and insurance companies

Skills
  • Strong organisational skills
  • Ability to take technical instruction and accurately implement
  • Excellent communication and interpersonal skills to be able to build and develop relationships
  • Ability to organize work to meet competing deadlines
  • Ability to work within defined procedures as recommended by functional teams
  • Commercial judgement
  • Good working knowledge of MS Excel, MS PowerPoint, MS Word

Desirable personal attributes
  • Intellectually curious with a willingness to learn through own research
  • Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function
  • Form relationships and be influential with potential clients, client advisers and reinsurance counterparties.
  • Effective communicator - structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders and external suppliers
  • Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance
  • Problem solving - ability to break down a complex task into smaller components and to research and develop solutions using own initiative in first instance

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you'll have full study support to qualify as an actuary and will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.

Full study support related to qualifying as an actuary is also provided.

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