Our client is looking to hire a Actuarial Analyst to join their team in London on a Permanent basis.
- Location: London
- Category: Life Actuarial
- Type: Permanent
- Pay Range: £50k - £70k
New business pricing responsibilities:
The team uses a sophisticated approach to price bulk annuities. This is broken essentially into four steps . The actuarial analyst will play a significant/leading role in each step.
Step 1: Produce best estimate projected cashflows representing future pension payments to the population to be insured. They use an external firm to help them in this step. The analyst will be responsible for working closely with the firm in producing these projections.
Step 2: Cashflows are modelled to allow for insurance capital risk capital requirements, longevity reinsurance, etc. The actuarial analyst will work with the deal leader in this exercise.
Step 3: Preparing papers for presentation up to Board level making appropriate recommendations. The analyst will be involved in drafting these papers and possibly assist in presenting them.
Step 4: Negotiating price, structures and legal contracts with the client. The analyst will support in these negotiations. The analyst will also assist in managing the interface with the client team including their advisors.
The team will be implementing a number of business development initiatives to encourage more schemes to interact and ultimately transact with PIC. These initiatives fall into four main categories:
Generating New Prospects and Strategic Ideas: Undertake detailed analysis of the DB Pensions Landscape to identify, establish contact and present ideas to potential schemes.
Relationships with advisory firms: Create a framework that enables the team to engage with key advisory firms and maintain detailed databases in respect of relevant contacts
BD Events: Contribute to the strategic oversight of the events that PIC participates in from a business development perspective. This contribution should be through both content and broader strategy.
BD Advertising: Monitor, evaluate and contribute to the most effective forms of advertising from a business development perspective.
- Highly numerate (familiarity and dexterity with basic mathematical functions)
- Problem solving – ability to break down a complex task into smaller components and to research and develop solutions using own initiative in first instance
- Project management skills
- Advanced numeracy (familiarity, dexterity and intuition in more advanced mathematical functions including compound interest and discounting)
- Able to communicate technical results or processes effectively with external parties
- Deep Excel skills (e.g. writing simple formulae involving VLOOKUP / IF etc.)
- Excellent interpersonal skills to develop business development propositions
- Able to take technical instruction and accurately implement
Commits to the team:
- Manages conflict
- Supports others
- Builds strong relationships
- Displays integrity and respect
- Adapts to suit the audience
- Distils information
- Has open, honest conversations
- Communicates with impact
- Listens to others
Manages self and others:
- Provides direction
- Recognises success
- Develops others
- Empowers others
- Manages performance
Does things differently:
- Open to learning
- Questions and challenges
- Proposes new ideas
- Works flexibly
- Demonstrates curiosity
Understands the business:
- Puts the customer first
- Manages risk
- Displays commercial awareness
- Applies in-depth technical capability
- Acquires organisational knowledge
Strives for excellent results:
- Plans and prioritises
- Shows resilience
- Displays passion and enthusiasm
- Acts decisively
- Delivers on objectives
- Focuses on quality
- A Level Maths
- Part qualified actuary or similar experience
- Actuarial trainee
- Experience of managing high and varied workflow
- Defined benefit pensions knowledge – familiarity with DB benefit structures
- High familiarity with basic Excel functionality (e.g. sum, average, data manipulation)