Head of Bulk Purchase Annuity

3 weeks ago

United Kingdom Utmost International Full time
Job Details: Head of Bulk Purchase Annuity (BPA) Business Development

Full details of the job.

Vacancy Name

Vacancy Name Head of Bulk Purchase Annuity (BPA) Business Development

This is a role for a candidate with bulk annuity experience and strong communication skills to help develop a BPA business within a growing and ambitious Life Insurer. The individual will need to support the Bulk Annuity Director to build bulk annuity capability and implement new business, working closely with the Executive Committee, Board and wider Utmost Group.

Key Responsibilities: 

• Support the Bulk Annuity Director to build and manage the BPA department, reporting to the Board and senior management regularly.
• Oversee the output of the team performing the analyses, modelling and documentation of the BPA department, linking in with other departments as appropriate.
• As part of the Senior Management Team, contribute to and provide challenge on the general operational management and strategic direction of the company. 
• Work with legal advisers to ensure contracts are fit for purpose, including negotiation with the relevant third parties. 
• Work with a transition team to ensure that successful bids are migrated appropriately onto the Life Insurance Company systems.
• Contribute to the risk management function of Utmost Life and Pensions from a BPA perspective.
• Maintain competence and fitness and propriety standards to the level required by the Company’s regulators.
• Provide Utmost Life and Pensions with access to any evidence of competence, fitness and propriety reasonably required, for example permission to carry out DBS and credit history checks.
• 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.
• Notify the regulator(s) of matters reasonably expected to be notified.

This is a Certified Function Holder and Material Risk Taker role as part of the Senior Management Team.

Core Competencies:
• Excellent commercial acumen and ability to lead on new business activity
• Ability to communicate effectively at all levels, including Board level, and to motivate a team of technical staff to deliver according to agreed plans and timescales.
• Strategic awareness of industry, economic and actuarial developments.
• Good presentation, communication, delegation, negotiation and conflict management skills.
• Influential, a leader that places the interests of the organisation first.
• Critical thinking and problem solving skills.
• An understanding of materiality and proportionality in application to reporting ensuring that reports to be produced are fit for purpose.
• Excellent planner and organiser, pragmatic, adaptable and flexible.
• Able to build productive relationships at all levels in the organisation and with third parties.

Experience and Qualifications:
• Experience in BPA business and processes essential
• Good knowledge and experience of life assurance and pensions business.
• Good experience of the regulatory environment in the UK for life offices and working with the regulators.
• Strong customer, stakeholder and people management skills
• Strong project management skills
• Qualified Actuary desirable but not essential #J-18808-Ljbffr

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