Head of Matching Adjustment and Investment Business Partnering

LGBT Great; Greater London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A leading insurance firm is seeking a Head of MA and Investment Business Partnering. This role involves collaboration with investments and risk functions to manage the MA fund and ensure compliance with PRA regulations. Key responsibilities include submitting MA applications, validating investment trades, and providing support to the CFO. Candidates should have extensive experience in the life insurance industry and strong communication skills. The position offers a competitive salary along with benefits like private medical insurance and generous annual leave.

Benefits

Private medical insurance

28 days' annual leave

Generous pension scheme

Qualifications

• Demonstrated relevant experience in the life insurance industry.
• Experience drafting papers suitable for Board committees and regulators.
• Experience in reviewing and challenging technical proposals.

Responsibilities

• Own the process for submitting MA applications to the PRA.
• Ensure PIC operates the MA fund in line with MA permissions.
• Provide investment business partnering support for Finance.

Skills

Strong organisational skills

Strong communication skills

Ability to persuade and influence others

Commercial judgement

Job description

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 Company wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

At PIC, we have a unique opportunity for a leader to join our Capital Insight & Actuarial department as Head of MA and Investment Business Partnering. An effective communicator, an innovative thinker with intellectual curiosity and a strong problem solver, you will collaborate effectively with PIC's Investments and Risk functions, as well as wider Finance functions, to ensure that PIC operates the MA fund in line with its MA permissions and PRA regulatory requirements, using insights and analysis to challenge and support investment decisions, in particular on hedging and liquidity.

Responsibilities

• Own the process for submitting MA applications to the PRA with a view to having applications with a regular cadence
• This includes ownership of meetings and drafting correspondence with the regulator on all MA related topics and taking applications through appropriate PIC governance
• Ensuring that PIC operates the MA fund in line with its MA permissions and PRA regulatory requirements. This includes validation of new investment trades, production of monthly Test 3 results, calculation and monitoring of the PRA matching tests and owner of the MA fund management policy and custodian of the MA approach documentation
• Ownership of the MA attestation policy, as well as processes and production of the annual attestation report for the CFO
• Provide investment business partnering support for Finance. In addition to the MA responsibilities outlined above, this includes:
  • Support to the Chief Actuary and CFO in reviewing liquidity and hedging proposals
  • Lead on relevant industry consultations or impact assessments
  • Review of investment committee papers (attend IC/Equity IC)
  • Coordinate and be the lead team for the Capital Resources Committee
  • Coordinate responses to PRA and ABI on proposed changes to regulations
  • Lead a team of actuarial and other finance professionals
  • Keep informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to the role

Experience

• Demonstrated relevant experience working in the life insurance industry
• Experience in reviewing and challenging technical proposals
• Experience drafting papers suitable for Board committees and regulators

Knowledge

• In depth knowledge of the operation of Matching Adjustment funds ("MAF")
• Good technical knowledge of financial markets, DB pensions and bulk annuity markets
• Good technical knowledge of different reporting measures
• High level understanding of modeland systems developments applied to actuarial issues

Skills

• Strong organisational and strong communication skills
• Ability to persuade and influence others, and to manage people and other resources effectively
• Ability to arrange work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams
• Commercial judgement

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.