Actuarial Analyst

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Pension Insurance Corporation plc

WebsiteLinkedInAll Job Openings

201 - 500 employees

💰 Private Equity Round on 2018-06

The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At half year 2023, PIC had insured 339,900 pension scheme members and had £44.9 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. PIC has made total pension payments of almost £12 billion to its policyholders. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345).

📋 Description

• Marketing and originating new bulk annuity opportunities • Pricing and structuring of these bulk annuity and reinsurance transactions • Analysing data to calculate mortality assumptions • Managing negotiations with the trustee/company, through their advisors • Assisting other PIC departments with the onboarding and long-term implementation of new business wins, within our End-to-End Process framework. • Provide junior-level support to the development of transactions across the deal team and the reinsurance team. • Involve analysing data to determine suitable mortality assumptions, use of pricing models to determine premiums, bid preparation, drafting committee papers and transaction management. • Liaise directly with other departments such as the Investments team, the Market Solutions team, the Finance team and the Operations team. • Deliver tailored and competitively priced proposals to prospective clients, contributing to PIC’s business strategy.

🎯 Requirements

• Strong academic record in Mathematics, Statistics, Economics or Actuarial Science or related field • Capable and willing to work towards achieving actuarial qualifications • Prior experience of working within a corporate environment, including some prior actuarial experience, would be desirable • Advanced numeracy (familiarity, dexterity and intuition in more advanced mathematical functions including compound interest and discounting) • Knowledge of data analysis and Excel skills preferred. • Comfortable with completing data analysis in excel with use of formulae • A good understanding of financial services industry best practice in actuarial analysis relating to Defined Benefits pensions, and insurance companies • Strong organisational skills and ability to take technical instruction and accurately implement • Excellent communication and interpersonal skills to be able to build and develop relationships • Ability to organize work to meet competing deadlines • Ability to work within defined procedures as recommended by functional teams • Commercial judgement and good working knowledge of MS Excel, MS PowerPoint, MS Word

🏖️ Benefits

• private medical insurance • 28 days' annual leave (excluding bank holidays) • a generous pension scheme • full study support to qualify as a Fellow of the Institute and Faculty of Actuaries