Actuary

🕒 May 21

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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

• Support the team in the regular assumption setting process across all relevant reporting bases (i.e. SUK best estimate and IFRS) • Support the team in the regular maintenance of PIC’s policyholder options basis • Support the team in the regular maintenance and validation of specific internal model calibrations as noted above. • Take day-to-day ownership of particular assumptions/calibrations and deliver work on an independent basis and to a high quality. • Collaborate with other qualified actuaries and actuarial students across the Capital Insight & Actuarial department when delivering work. • Liaise closely with other stakeholders across the wider business as required. • Lead on the reviews of assumptions and capital calibrations as appropriate. • Champion process efficiencies and improvements across the team. • Prepare comprehensive reports reflective of the intended audience that demonstrate sound analysis and recommendations for assumption proposals as part of the PIC’s external reporting and policyholder option bases. • Effectively collaborate with and support other team members as well as other parts of the business as required. • Take ownership for your own learning and development in both technical and non-technical skills. • Keep informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to assumption setting and capital modelling by attending industry seminars, reading and sharing relevant published articles

🎯 Requirements

• **Experience:** • - Fellow of the Institute and Faculty of Actuaries • - Experience of working in the life insurance sector,, experience within the bulk annuity market is desirable • - Experience of working with Line 2 teams and external auditors • - Experience of preparing and presenting papers to senior management • - Experience of using automation/AI to improve process efficiency • **Knowledge:** • - Strong quantitative and analytical expertise • - Familiarity with Solvency UK and IFRS regulations • - Knowledge of developing, documenting and maintaining an Internal Model • - Familiarity with the external financial reporting and audit process • - Detailed knowledge of longevity risk and other bulk annuity related assumptions • **Skills:** • - Good stakeholder management skills with a proven ability to communicate and work effectively with more senior roles • - Strong work ethic and motivation, with an ability to deliver to deadlines • - Well organised and able to manage and co-ordinate regular business deliverables • - Strong written and verbal communication skills, especially in technical matters • - Coding skills in one or more of the following statistical packages: VBA, Python or R

🏖️ 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.