Job Description

We’re looking for a Reinsurance Manager to join our Reinsurance Operations. If you’re looking for a new challenge with an organisation committed to putting customers first, aiming high and working together, you’ll thrive here.

Job Type: Permanent

Location: This role could be based in either our London or Edinburgh office working two-three days per week in the office. 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 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 flexible working here.

Salary and benefits: c.£69,000 depending on 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.

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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.

The role

Working closely with the Head of Reinsurance Operations, you will support many aspects of the overall reinsurance operations journey, the role would fit somebody looking for a challenge and has experience in ensuring reinsurance arrangements are administered efficiently and accurately.

Key responsibilities will include:

• Responsible for reviewing technical accuracy of Reinsurance Settlement reports and Collateral Valuations covering a number of longevity based products.
• Responsible for reviewing annual cleanse materials, including data changes, premium calculations and surrender amounts, ensuring technical accuracy throughout
• Developing bespoke excel modelling tools to validate onboarding and accuracy of ongoing materials produced by strategic reinsurance platform
• Reviewing reconciliation of premiums and claims on legacy reinsurance arrangements, drafting reports setting out the results of the reconciliation and recommendations for all stakeholders
• Development of clear, efficient and robust processes to be used by the wider team. Responsible for continuous improvement of these processes to ensure they remain appropriate.
• Responsible for working with the New Business Reinsurance team to ensure all new contracts are operationally viable prior to transaction.
• Responsible for training new and existing members of the team in any appropriate operational developments.
• Responsible for ensuring all processes and templates are clearly documented and have a suitable audit trail and version control.
• Driving and supporting ad-hoc project work

What are we looking for?

• A newly qualified actuary with strong Defined Benefit pension scheme experience, including benefit calculations, cashflow modelling and projecting pension liabilities.
• Significant practical knowledge of DB pension benefits, gained through pensions administration, actuarial/benefits consultancy, implementation or technical calculation roles.
• Proven ability to interpret and apply complex DB pension scheme rules to benefit calculations, including GMP, revaluation, increases in payment and early/late retirement adjustments, and project these accurately into future cashflows.
• Strong analytical and Excel modelling skills, with experience of developing, reviewing and validating complex calculations and models, identifying discrepancies and ensuring technical accuracy.
• Excellent communication skills, with the ability to explain complex technical information clearly, build strong stakeholder relationships and work collaboratively, alongside a strong attention to detail.
• Commercial knowledge of pension de-risking and longevity solutions, including bulk annuities, longevity swaps and/or longevity reinsurance, would be desirable.

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, so apply early to avoid missing out.

Find out more about working at Standard Life

• Guide for Candidates: standardlifeplc.pagetiger.com/guideforcandidates
• Find or get answers from our colleagues: www.standardlifeplc.com/careers/talk-to-us

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