Job Type: 12 months Secondment / FTC
Location: This role would ideally be based in our London office but we are also open to hiring in Edinburgh/Telford/Birmingham, with some flexibility to work between the office and home. We will discuss what is important to you and balancing this with business requirements during the recruitment process You can read more about flexible working here.
Career Family and Level: Niche: Specialist Band 2
Salary and Benefits: from £65,000+ (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
We’re looking for a PRT Pricing Actuary who is a strong actuarial professional with experience in cashflow modelling, assumption setting and developing bespoke solutions for complex pension risk transfer transactions, to help us shape better retirements across the UK. In our Defined Benefits Solutions team, you’ll play a key role in managing in-force bulk annuity transactions, leading cashflow modelling and pricing activities, and delivering complex post-transaction projects. This is a great secondment opportunity, that will be hired on a 12-months basis.
Who are we?
We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.
Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.
Key Responsibilities
Working with the Pricing Managers on the ongoing management of our book of Pension Risk Transfer transactions
Working closely with key internal and external stakeholders such as Client Services in executing data cleanses, including GMP equalisation implementation and the transition to buyout
Leading the production of cash flow and pricing models for PRTs, ensuring robust controls and processes are followed
Working with others to navigate complexities and non-standard requests, driving thinking on solutions
Development, coaching and training of junior members of the team
Leading on project management to ensure that key contractual requirements and timescales are met
Building, developing, documenting, running and maintaining actuarial models
Presenting technical content with confidence to internal and external stakeholders
What are we looking for?
Qualifications: Be a qualified Actuary or near qualified Actuary
Experience & Knowledge (Essential):
Practical experience of actuarial cash flow modelling, including development of models for bespoke projects and exercises, and application of actuarial methodologies for setting assumptions
Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
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
Skills and Personal Attributes
Strong problem solving, communication and analytical skill
Ability to work quickly and accurately with a high attention to detail
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.
We’re reviewing applications as they come in and may close this role before the closing date, so apply early to avoid missing out.
Find out more about working at Standard Life
We’re Phoenix Group, and our customer brands include SunLife, Standard Life, Phoenix Life, and ReAssure. While we have a thriving ‘open’ business through the Standard Life and SunLife brands, a key driver of value for us is our expertise in managing ‘heritage’ books of business no longer open to new customers.
We have offices around the UK as well as operations in Dublin and Frankfurt. As one of Britain’s Top Employers, we offer opportunities for you to challenge and develop yourself in a company that looks after our colleagues, customers and communities.
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