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    Senior Pensions Actuary - London, United Kingdom - PIC

    PIC
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    Description

    At half year 2023, Pension Insurance Corporation (PIC) had insured 339,900 pension scheme members and had £44.9 billion in financial investments, and has made total pension payments of almost £12 billion to its policyholders.

    In an exciting period of growth, we are seeking to recruit a Senior Actuary to our Reporting & Financial Management department in a newly created role.

    Our Reporting team produces regular actuarial MI on hedging, capital raising, assets, new business, solvency, sensitivity to assumptions etc.

    The team is required to investigate and explain variances against forecast and planned results to the Strategy and the Planning and Forecasting teams, and in the information used for Asset Liability Matching.

    As a Senior Actuary , you will provide particular support to the delivery of year-end and half-year actuarial reporting, and for the remainder of the year will typically largely focus on supporting ad hoc projects and delivering process improvements to the Reporting team.

    The role may involve significant interactions with the teams onboarding new business and new reinsurance treaties, the Modelling and Data teams, and the Business Partnering teams in Finance, as well as other relevant teams across the business.

    Significant investment is being made by the business into finance function system capabilities, in particular, enhanced actuarial systems and automation tools.

    You will also be expected to identify ideas on an ongoing basis for improving business performance and processes and adding value.

    Review, analyse and refine the preparation of year-end and half-year Solvency II, IFRS 17 and MCEV reporting KPIs and analyses, including the P&L/analysis of movement of these items, likely with particular focus on Solvency II Pillar 3 reporting and/or IFRS 17 disclosures
    Support the Deputy Head of Actuarial Reporting and the Head of Actuarial Reporting in presenting and communicating the results and analysis of these items to the Financial Controller, the Chief Actuary and the CFO; and in interactions with the Actuarial Function Holder, internal and external audit and the Audit Committee
    Support queries from, and provide analysis to, the broader Finance accounting and reporting, Business Partnering and FP&A teams, and support in investor interactions and regulatory requests as required
    Lead specific ad hoc projects for the Actuarial Reporting team and lead engagement with firm-wide initiatives; such as enhancements to investment data processes, reviews of inflation methodology, and the implications of Solvency II reform
    Support the identification and lead the implementation of enhancements to the actuarial reporting production processes and/or quality of output; for example improving the documentation of methodology or production processes and overseeing the implementation of identified initiatives to streamline or enhance the production processes
    Support the Deputy Head of Actuarial Reporting, the Head of Actuarial Reporting and the Financial Controller in other ad hoc actuarial investigations as they arise
    Coach and develop less experienced members of the Actuarial Reporting team, including line management responsibility for a qualified actuary supporting on the above activities
    Detailed knowledge and experience of actuarial and financial reporting in a UK life company environment, in particular Solvency II and IFRS 17 reporting (MCEV desirable)
    Understanding of UK DB pensions and bulk annuities
    Strong written and oral communication skills, with ability to communicate complex actuarial information to both actuaries and non-actuaries at a senior level
    Staff/project management skills
    Ability to analyse, investigate and explain results from actuarial models
    Experience of running and delivering ad hoc projects or investigations, particularly in an actuarial reporting context, ensuring that outcomes are appropriate and timely
    High level understanding of model and systems developments in relation to actuarial issues
    Knowledge of UK life insurance company accounting and taxation
    programming languages (for example R and Python); and actuarial modelling software (for example RAFM); Excel knowledge at an advanced level

    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'll get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.

    This role offers hybrid working, and we are open to discussing flexible working arrangements too.
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