Open Products Lead

St. James's Place; Cirencester; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A leading financial services company in Cirencester is seeking a proactive actuary to join their Group Products division. The candidate will provide actuarial expertise, ensure product design aligns with regulations, and support business growth. Applicants must be a Fellow of the Institute and Faculty of Actuaries and have experience in product development. Competitive compensation and benefits, including hybrid work options, are offered.

Benefits

Discretionary annual bonus

28 days annual leave plus bank holidays

Private medical insurance

10% non-contributory pension

Qualifications

• Significant post-qualification experience in product development or pricing.
• Experience with Key Features Illustrations and actuarial calculations.
• Understanding of the UK financial advice landscape.

Responsibilities

• Ensure product design complies with regulations and legislation.
• Act as Subject Matter Expert on cross-business projects.
• Contribute to product research and development.

Skills

Fellow of the Institute and Faculty of Actuaries

Advanced Excel skills

Strong communication skills

Product governance knowledge

Analytical and mentorship skills

Education

Fellowship in Actuarial Science

Tools

Excel

Job description

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Are you ready to chart your own career path? At SJP, we need talented individuals like yourself to support our evolving culture. If you’re seeking an employer that is passionate about excellence, innovation, and autonomy, SJP could be the place for you.

At a glance:

Location: Cirencester Office

Workplace Type: Hybrid

Employment Type: Permanent

Seniority: Mid-Senior Level

The role:

The role of Group Products (“the Division”) is to develop and lead all aspects of the suite of products and services available to clients of St. James's Place, ensuring they are fairly priced, support business growth, and deliver good client outcomes. The main purpose of the role is to provide actuarial expertise to the Divisional Director of Manufactured Products in developing the range of manufactured wrapper products open to new business.

What you'll be doing:

• Ensure that the product design and pricing of SJP products and services open to new business align with regulations and legislation, including Consumer Duty.
• Represent the Division on cross-business projects, acting as Subject Matter Expert and monitoring resources to ensure successful implementation.
• Contribute to the research, design, and development of profitable new products, making recommendations that add value, in line with corporate objectives and the Division's business plan.
• Provide actuarial support to team members including the Partnership, third-party administrators, and internal teams across business areas such as pricing concessions, product functionality, illustrations, and other calculations.
• Liaise with and maintain relationships across the business and with third-party providers.
• Provide figures and analysis to support business decisions.
• Ensure accuracy of illustrations, terms, conditions, and product documentation.
• Act as a role model to junior actuaries and actuarial analysts, offering guidance and support.

Who we're looking for:

A superb communicator who values long-term relationships, adopts a collaborative and pragmatic approach to solutions, demonstrates teamwork, and has an analytical and mentorship approach to junior members.

• You must be a Fellow of the Institute and Faculty of Actuaries with significant post-qualification experience in product development, pricing, or a related commercial function.
• Experience with Key Features Illustrations, charges, costs disclosure requirements, product governance, and other actuarial calculations is essential for accurate reporting and decision-making.
• Excellent Excel and IT skills, capable of detailed financial modelling, data analysis, and pricing calculations.
• The ability to act as a Subject Matter Expert in cross-business projects, especially in product pricing, development, and regulatory implementation.
• Proven experience leading medium-to-large divisional projects.
• A solid understanding of the UK financial advice landscape.
• Excellent written and verbal communication skills, with experience in writing papers, reports, and findings.

Special Requirements:

UK travel may be required on an ad-hoc basis.

What's in it for you?

We reward you for your work, through our discretionary annual bonus scheme reflecting personal and company performance, a competitive annual leave allowance (28 days plus bank holidays, with an option to purchase an additional 5 days), and access to an online rewards platform with discounts.

Additional benefits include:

• Competitive parental leave (28 weeks full pay)
• Private medical insurance (optional taxable benefit)
• 10% non-contributory pension (increasing with length of service)

Reasonable Adjustments

We're an equal opportunities employer committed to accessible and inclusive recruitment. If you require reasonable adjustments at any stage, please let us know by emailing us.

Research indicates that applicants, especially from underrepresented groups, might be discouraged if they do not meet all criteria or have had an extended career break. If you believe you are a good fit and can demonstrate transferable experience, please apply, even if you don't meet every requirement.