Annuities Technical Actuary

1 week ago

Edinburgh, Edinburgh, United Kingdom Phoenix Group Full time

Salary:
up to £91,000 per annum (dependant on experience) plus bonus of up to 32%, 38 days holiday, generous pension, life assurance, private healthcare, volunteering days and lots more

Job Type:
Permanent

Location:
Hybrid - London, Edinburgh or Wythall (South Birmingham)


We have an incredible opportunity for an Annuities, BPA Technical Actuary to join us here at Phoenix Group as in our Client Services Team within Retirement Solutions.


Who are we?
We want to be the best place that any of our 8,000 colleagues have ever worked.

We're the UK's largest long-term savings and retirement business.

We offer our 13 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£310 billion of assets under administration.

We're a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we're not done yet.


The role
Working closely with the Head of Client Services, you will support many aspects of the overall customer journey.

The role would fit somebody looking for a challenge that has experience in overseeing integration of actuarial bases into individual member calculations and associated processes.


You will be responsible for:

  • Implementing and reviewing factor assumptions across our portfolio of BPA schemes.
  • Providing ongoing expertise in respect of actuarial issues (e.g. GMP Equalisation and the impact on member options).
- completing sample reviews of actuarial calculations carried out by our administrators (e.g. transfer value calculations, retirement projections etc).

  • Providing technical expertise and oversight for member options as appropriate (e.g. PIE exercises, ETV exercises, Level Pension Options etc).
- building and maintaining factor generation and cashflow projection models.
- keeping up to date with legislative and market changes impacting actuarial aspects of our proposition.

  • Provide actuarial expertise to inflight projects and be responsible for managing actuarial projects as appropriate.

What are we looking for?
We are looking for an individual who prides themselves on building and maintaining quality stakeholder relationships.

  • Qualified Actuary, with solid post qualification experience with a pension specialism
  • Good technical understanding of Defined Benefit pensions legislation
  • Extensive experience reviewing member calculations, including GMP equalisation, CETV and retirement quotations
  • Experience setting factor bases and handson experience of factor generation
  • Experience building models to generate actuarial factors and carry out cashflow projections
  • Excellent communication skills effective engagement with internal stakeholders
  • Ability to communicate effectively with a technical actuarial audience and simply communication of technical issues to a nontechnical audience
  • Maintain up to date regulatory, business and professional knowledge in an environment of fast moving regulatory change
  • Commercial knowledge of pension derisking products including bulk annuities and longevity swaps would be desirable.
  • Very selfaware with the desire to exceed expectations and demonstrate resilience in overcoming challenges and determination to deliver results for the business
  • Willingness to develop and progress in the role, highlighting and engaging with any training needs as appropriate
  • Regularly working to defined and tight timescales whilst maintaining professional standards
  • Demonstrate the skills required to manage projects and people effectively

We want to hire the whole version of you
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds.

If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.


If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

L1-RL1 #LI-HYBRID

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