Actuary - Investments Business Partnering

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders.

PIC is recruiting for an Actuary to join its Investments Business Partnering team and requires the ability to effectively collaborate with Risk, Investments, and other Finance teams to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate, as well as to apply your knowledge and insights concerning the management of liquidity risk and how this impacts our policyholders.

Specific accountabilities assigned to the role of Actuary within the Capital Insight & Actuarial:

• Participates in the production of liquidity stress and scenario testing processes; advising on scenario development, modelling of scenarios, review of results, suggestions for further developments.
• Review “liquidity journeys”; projections from the Investments team that show how liquidity demands and risk changes as PIC onboards new pension risk transfer liabilities.
• Review liquidity management information presented to a range of PIC Management and sub-Board Committees.
• Responsible for the maintenance of PIC’s liquidity policy.
• Prepare appropriate reports, reflective of the intended audience, that demonstrate sound analysis and recommendations on the above topics to support various PIC committees in discharging their responsibilities.
• Effectively collaborates with subject matter experts within the Finance teams and also across the business, in particular with Investments and Risk colleagues. May also represent PIC in external settings, such as the PRA’s subject expert groups or other cross-industry meetings.
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of the wider Finance department.
• Keeps informed of industry trends, market developments, changes in regulatory rules and expectations , as well as best practices related to actuarial techniques and the wider pension risk transfer market by attending industry seminars, reading and sharing relevant published articles.

Requirements

Experience:

• Most likely a qualified actuary with the Institute and Faculty of Actuaries, or similar body, or a non-actuary with comparable finance-related background.
• Experience in developing relationships across multiple, different discipline teams.
• Experience of conducting financial / data analysis and reporting on that work.
• Experience of interacting with or responding to requests from the prudential regulator.

Knowledge:

• Good technical knowledge of the UK Solvency regime, particularly around liquidity risk.
• Established knowledge of actuarial modelling and analysis techniques, especially stress and scenario testing, as applied to UK life insurers.
• Familiar with regulatory developments with respect to liquidity and liquidity risk, and how this applies to UK life insurers.

Skills:

• Strong organisational skills
• Strong communication skills, including drafting papers and opinions
• Ability to succinctly articulate key points from financial / data analysis to a range of audiences
• Ability to organize work to meet deadlines
• Good working knowledge of MS Excel, MS PowerPoint, MS Word; programming languages desirable.

Desirable personal attributes aligned to what success looks like in the role:

• Effective communicator – structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• Intellectually curious with a willingness to learn through own research.
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
• Innovative thinker – positive attitude to change and a willingness to embrace new ideas and techniques to improve performance.

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.