Actuarial Analyst

4 weeks ago

London, Greater London, United Kingdom Phoenix Group Full time
Job Description

Location and flexible working: London, working from our centrally located office three days per week, Tuesday to Thursday. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process.

Flexible working: All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about Phoenix Flex here

Job Type: Permanent

Closing Date: 3rd April 2024

Salary and benefits: Between £40,000 and £70,000 dependent upon experience plus 8% bonus up to 16%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, income protection, 3x volunteering days and much more

Recruiter: Dave Sweeney

We have an incredible and unique opportunity to join Standard Life's award-winning Defined Benefit Solutions team as a BPA Solutions Actuarial Analyst, supporting in the pricing and execution of both BPA and Reinsurance opportunities.

Who are we?

We want to be the best place that any of our 6,800 colleagues have ever worked.

As part of Phoenix Group, we're the UK's largest long-term savings and retirement business. We offer our 12 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c. £260 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
  • Provide support to the Pricing Actuaries and Business Development Managers in the pricing and execution of bulk annuity transactions.
  • Provide support to the Reinsurance and Structuring team in the pricing and execution of reinsurance transactions in support of bulk annuity transactions and backbook optimisation.
  • Provide support to the BPA Pricing team, optimising our pricing to maintain our competitive position in the market.
  • Take responsibility for modelling pension scheme liabilities to generate benefit cash flows from individual member data and benefit schedules
  • Modelling and assessing capital requirements and producing sensitivity analyses to assist with pricing, governance and bids for new transactions
  • Build, develop, document, run and maintain actuarial models, ensuring robust controls and processes are followed (including development of bespoke financial models for strategic projects)
  • Contribute to ensuring BPA and Reinsurance transactions are priced accurately and commercially in line with our pricing, risk appetite and governance processes and delivered to agreed timescales
What We're Looking For
  • Be a part qualified actuary with a desire to be fully qualified, which will be support by Phoenix Group
  • Practical experience of actuarial cash flow modelling for pensions in payment and deferred benefits
  • Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
  • Strong problem solving and analytical skills, and the ability to work quickly and accurately with a high attention to detail
  • Ideally have an appreciation of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment along with experience of bulk annuity modelling and pricing
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
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