BPA Pricing Actuary

Job Type: Permanent

Location and flexible working: This role will ideally be based in our London office, but we are open to considering candidates in Edinburgh and the Midlands. There will be some flexibility to work between the office (minimum 3 days per week) and home. We recognise the benefits of flexible working and will discuss what is important to you, balancing this with business requirements during the recruitment process.

You can read more about Phoenix Flex here.

Salary and benefits: £65,000 - £95,000 (subject to experience) + bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

We have an incredible and unique opportunity for a BPA Pricing Actuary to join Standard Life’s award-winning Defined Benefit Solutions team, pricing and managing our extensive book of BPA clients.

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re Phoenix Group, we’re a long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. 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

This is a unique opportunity to join a high-performing team at the forefront of Bulk Purchase Annuity (BPA) transactions.

This role offers the opportunity to work directly with Pricing Managers to manage a growing book of business, while collaborating with internal and external stakeholders such as Client Services to execute data cleanses, implement GMP equalisation, and the transition to buyout.

You’ll lead on the production of cash flow and pricing models for BPA’s, ensuring rigorous processes, controls and governance are followed and maintained. The role also involves managing complex and bespoke requests with various teams, overseeing project delivery in line with contractual requirements and timelines, through to presenting technical content with clarity and confidence.

In addition, you will build, develop, document, run and maintain actuarial models, and support the training of junior team members, helping to maintain the team’s technical strength and operational efficiency.

What We’re Looking For

Experience, Skills and Knowledge

• 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)
• Has 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
• Excellent analytical and problem-solving skills, with holistic thinking
• Strong stakeholder communication skills, with the ability to translate technical information
• Agility and vision to adapt processes in a transformation and change environment
• Self-starter and independent worker with strong sense of ownership, capable of delivering, driving and shaping results and to meet deadlines under pressure

Qualifications

A qualified actuary or near qualified actuary

Personal Attributes

• Excellent analytical and problem-solving skills, with holistic thinking
• Strong stakeholder communication skills, with the ability to translate technical information
• Agility and vision to adapt processes in a transformation and change environment
• Self-starter and independent worker with strong sense of ownership, capable of delivering, driving and shaping results and to meet deadlines under pressure

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

• Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
• Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us      #LI-SC1