Pensions Actuarial & Investment Manager

Shell Business Operations; City Of London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A major energy company is seeking a Pensions Actuarial and Investment Manager to oversee actuarial and investment strategy for UK-linked pension plans. The role involves leading the Investment and Funding Committee, providing high-quality actuarial support, and collaborating with external advisers. Qualifications include actuarial credentials and a deep understanding of UK pensions. This opportunity offers competitive salary and flexible working conditions.

Benefits

Competitive starting salary

Flexible working hours

Paid parental leave

Access to training and development programmes

Responsibilities

• Lead executive support for the Investment and Funding Committee.
• Work with external advisers for high-quality advice.
• Provide actuarial support to the Trustee Services Unit.

Skills

Actuarial qualification

Excellent knowledge of UK defined benefit pension schemes

Deep knowledge of UK pension legislation

Knowledge of external market practices and products

Good knowledge of strategic investment matters

Self-starter and effective team player

Ability to influence and lead complex matters

Ability to focus on the detail

Ability to contribute to broader development

Education

Fellow of the Institute and Faculty of Actuaries

Job description

Job Description:

What’s the role

The role reports directly to Head of UK Pensions and is responsible for overseeing the integrated investment and funding strategy alongside the Head of UK Pensions. Shell sponsors six UK-linked pension schemes covering around 50,000 members, has around £20 billion of assets and makes benefit payments approaching £900 million a year. In addition to the principal UK defined benefit plan there are other funded and unfunded defined benefit plans in the UK, an international plan with benefits in over 40 countries and over 30 currencies and a UK defined contribution plan.

The role is part of the leadership team of Shell’s UK Trustee Services Unit which provides executive pensions support to the trustees of Shell’s pension schemes in the UK. The Trustee Services Unit operates as a division of Shell International Limited and is part of Group Treasury.

As a member of the Trustee Services Unit Leadership Team, the successful candidate will work across the team supporting other initiatives and leading development of the wider team.

What you’ll be doing

The Pensions Actuarial and Investment Manager is responsible for the strategic development and implementation of actuarial and investment matters for the UK linked pension plans.

The pension plans have well developed Journey Plans which target reduced investment risk and funding risk being taken over time, towards the aim of reaching self-sufficiency. The Journey Plans integrate the Covenant Assessment of a large multi-national energy company with the funding needs and investment strategy to achieve the objective. The Pensions Actuarial and Investment Manager will continue to develop the strategy to ensure it remains appropriate for the changing external environment and requirements of the plans, working with the Head of UK Pensions, Chair of the Investment and Funding Committee and Chairs of the trustee boards.

The successful candidate will be accountable for the following:

• Leading the executive support and being the Secretary to the Investment and Funding Committee for the principal UK pension plan which has around £12 billion of assets. The Investment and Funding Committee oversees the investment management of the plan, monitors the funding position and investment performance and recommends the investment strategy and funding strategy to the Trustee Board. Day-to-day investment management for the plan is undertaken by an external Fiduciary Investment manager. This role is the principal point of contact with the Investment Manager.
• Work with the external actuarial, investment and covenant advisers to ensure high quality advice is provided to the trustee boards and committees on all relevant matters. Current projects include reviewing the Journey Plan in light of the changing regulatory environment related to funding, surplus and run-on.
• Provide actuarial support to the wider Trustee Services Unit, including the in-house pensions administration team. This would include support on complex member benefit matters, working with the external actuarial advisers on scheme factors and assisting with the actuarial aspects of other projects such as GMP Equalisation.

What you bring

The successful applicant is expected to have the following:

• Actuarial qualification (e.g. Fellow of the Institute and Faculty of Actuaries)
• Excellent knowledge of UK defined benefit pension schemes
• Deep knowledge of UK pension legislation and pension scheme funding requirements
• Knowledge and experience of external market practices and products in pensions
• Good knowledge of strategic investment matters and a wide range of asset classes
• Self-starter and effective team player
• Ability to influence, develop and lead complex matters
• Able to focus on the detail without losing sight of the broader issue or strategy
• Ability to contribute to the development of the broader Trustee Services Unit.

What we offer

You bring your skills and experience to Shell and in return you work with talented, committed people on one of the most important challenges facing our planet. You’ll have the opportunity to develop the skills you need to grow in an environment where we value honesty, integrity, and respect for one another. You’ll be able to balance your priorities as you become the best version of yourself.

• Progress as a person as we work on the energy transition together.
• Continuously grow the transferable skills you need to get ahead.
• Work at the forefront of technology, trends, and practices.
• Collaborate with experienced colleagues with unique expertise.
• Achieve your balance in a values-led culture that encourages you to be the best version of yourself.
• Benefit from flexible working hours
• Perform at your best with a competitive starting salary and annual performance related salary increase
• Take advantage of paid parental leave, including for non-birthing parents.
• Join an organisation working to become one of the most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply.
• Grow as you progress through diverse career opportunities in national and international teams.
• Gain access to a wide range of training and development programmes.

Shell is an Equal Opportunity Employer.