Senior Actuarial Project SME

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. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Senior Actuarial Project SME. The role sits within Finance Change and contributes to PIC’s overall success by supporting the definition and delivery of the Finance Vision.

This is a leadership role that is responsible for working with Finance SMEs in the identification, scoping and technical delivery of actuarial change across Finance. The role holder is expected to be able to:

• Communicate complex issues and solutions to actuaries and non-actuaries including at a senior level.
• Support team leads to develop wider change capability across Finance by coaching, mentoring and managing junior staff involved in change.
• Challenge the status quo
• The role will involve significant interactions with the teams across Finance and the wider PIC business.

Our Company values are expected to be reflected in the delivery and performance of every role.

Specific accountabilities assigned to the role of Actuarial Project SME:

• Support the Finance leadership team in designing target state actuarial processes and architecture
• Work with senior actuarial SMEs in the business to identify and propose actuarial improvement initiatives which support the delivery of greater value and scalability
• Lead the impact assessment of new requirements on finance, i.e. driven by regulatory requirements, new business etc
• Perform required analysis to scope the actuarial improvement initiatives including documentation initiation documents, business cases, methodology changes etc
• Lead the actuarial design of initiatives, including development of requirements, process design, operating model design etc
• Manage business readiness, including supporting testing and go live / cut over
• Contribute to and own specific elements of change related documentation
• Management of internal and external stakeholders
• Coach and develop less experienced members of the Actuarial Reporting team

Requirements

Experience:

• Qualified actuary (Fellow of the Institute & Faculty of Actuaries or equivalent)
• Post-qualified experience in a consulting or pensions/life insurance industry background
• Experience of identifying, scoping and delivering change initiatives or investigations, particularly in an actuarial reporting context (beneficial but not essential)

Skills:

• Strong written and oral communication skills, with ability to communicate complex actuarial change initiatives to both actuaries and non-actuaries at a senior level
• Ability to analyse, investigate and explain actuarial issues
• Good skills in Word, PowerPoint etc
• Strong organisational skills to organise work to meet deadlines
• Staff and project management skills to develop more junior colleagues

Knowledge:

• Knowledge of PIC systems and processes, or at least detailed knowledge of actuarial and financial reporting in a UK life insurance company environment, for example Solvency II or IFRS 17 reporting
• Good understanding of UK DB pensions and bulk annuities
• Good understanding of model and systems developments in relation to actuarial issues

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

• 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.
• Effective communicator – structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• 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.