Pension Calculation Analyst

Trafalgar House Pensions Administration; Greater London; On-site; GBP 40,000 - 56,000; Full time

Job summary

Trafalgar House Pensions Administration in London seeks a Pension Calculations Specialist to lead analysis and specification development for DB/DC calculations, mentoring junior staff and coordinating multiple projects.

You will translate complex scheme rules into detailed specifications, collaborate with analysts and developers, and ensure high-quality testing, documentation and compliance with the organisation's methodology.

Qualifications

• Ability to read, understand and extract detailed technical information from rules and docs and translate into specs.

Responsibilities

• Take ownership of calculation development from specification through testing, documentation and sign-off.
• Document processes and keep version control up to date.
• Train and guide junior staff in the methodology.
• Peer review the team’s work.
• Produce detailed calculation specifications from scheme rules and legislation.
• Collaborate with analysts, developers, project analysts and operations teams.
• Prepare estimates for tasks, scopes, and timescales; assess risks.
• Support product development related to calculations and related functions.
• Interpret client needs and recommend simplifications and automation.
• Test deliveries before UAT and document findings.
• Coordinate with actuaries and legal teams on complex queries.

Skills

Pension calculations

Defined Benefit

Defined Contribution

Pension administration

Technical analysis

Documentation

MS Excel

Multi‑project coordination

Education

A‑Levels or equivalent

GCSE English & Maths (A‑C)

PMI Qualified (Desirable)

Tools

Excel

Pension administration systems

Job description

MAIN PURPOSE OF THE ROLE

This role will sit within the Business Solutions Team. The Business Solutions Team are responsible for turning business requirements into detailed specifications for our in‑house Development Team. The job holder will take a lead role in defining and developing our standard calculations and developing a process to ensure that new calculation requirements align with our operating model. The job holder will be expected to mentor junior members of staff and play a lead role within the Business Solutions Team. This will be a high‑profile role and will suit someone with a keen eye for detail and the ability to work across multiple projects at a time.

Key Responsibilities

• Take ownership of the Trafalgar House methodology and process for calculation development from specification through to testing, documentation and sign off and understand the dependencies on other systems/business tasks.
• Ensure the process is documented and kept up to date with current working practices and follows appropriate sign off & version control.
• Develop subject‑matter expertise and take responsibility for training/providing guidance on this process to other staff as required for their roles and ensuring they are working within the methodology.
• Peer review the team's work.
• Complete detailed analysis of new and existing calculations, scheme rules, technical documentation, legislation to produce detailed calculation specifications that provide the information needed to build and test the calculations. The specifications should include details for calculations, result write‑backs, letter and web automation aspects where required and test packs.
• Collaborate and communicate with the other analysts, developers, client project analysts, technical and operations teams in respect of implementations, projects and change.
• Work with Project Manager/CRM to prepare estimates for tasks, scope, effort and timescales requirements in a timely manner. Evaluate risks and issues for set tasks. Input to and support business development opportunities.
• Work with Product Manager to support them on new and existing product development in relation to calculations and related functions and support business development opportunities.
• Work with business and clients to interpret their needs. Carry out analysis and make recommendations for simplification, rationalisation and effective automation.
• Carry out appropriate testing on deliveries from developers before passing over to UAT by other parties.
• Produce detailed test plans and document findings for project and clients as required.
• Manage interaction with third parties such as scheme actuaries and legal teams to clarify complex queries.
• Staff management and reviews with direct reports.
• Analyse root causes on errors and look for improvements in methods to improve future exercises.
• Produce end‑user documentation and consider quality and assurance measures.
• Keep up to date with pensions technical and industry sector developments.
• Support the introduction and adoption of new procedures through documentation and communication.
• Support the introduction of change within business areas.
• Investigate and suggest ideas to improve efficiency and quality of service. Research new software solutions where required.
• Knowledge of policies and process of ISO 27001 and where they can be accessed and followed.

Professional Qualities

Essential

• Ability to read, understand and extract detailed and complex technical information from scheme rules and documentation provided and then interpret into calculation development specifications.
• Detailed understanding of DB calculations; retirement, transfer and death calculations.
• Strong technical Defined Benefit and good Defined Contribution knowledge, plus understanding of current pension legislation and an appreciation of upcoming changes.
• Strong communication and documentation skills.
• Strong numeracy skills.
• Strong analysis and problem‑solving skills and good knowledge of analysis methodologies.
• A‑Level or equivalent. GCSE English and mathematics (A‑C).
• Five years+ prior experience in pension calculations analysis.
• Five years+ prior experience in pension administration.
• Highly computer‑literate and experienced in pension administration systems.
• Strong MS Office skills, especially Excel (with ability to create formulas), Word.
• Ability to work under pressure and on multiple exercises at the same time.

Desirable

• PMI Qualified.
• Good understanding of project management.
• Prior experience of pension scheme implementation projects.
• Experience of delivering projects to specification, time and budget.
• Experience of driving performance within a team in order that individuals can fulfil their potential.
• Knowledge of coding.

Personal Qualities

• Self‑starter with the ability to work with minimum supervision and work well under pressure.
• Ability to multitask and strong time‑management and organisational skill.
• Excellent interpersonal and relationship management skills. Gravitas to work collaboratively with strong communication skills, both written and verbal.
• Ability to think analytically and should be a problem solver. Logical approach to problem solving, with an understanding of the impact of decisions made.
• Ability to interpret and articulate complex information effectively.
• Must have a flexible attitude and be able to comfortably accommodate change.
• A commitment to quality and a thorough approach to the work.
• Ability to work well within a team.
• Prefer a small business, fast‑paced working environment.
• Desire to stay updated on current and new developments in the pensions industry and pensions legislation.
• Pragmatic with a keen eye for detail.
• Personal drive and able to take a proactive approach.
• High level of numeracy and IT literacy.
• Good judgement and decision‑making skills.
• Positive attitude.
• Common sense and personal integrity.