Policy Data Management Analyst

PIC; Greater London; On-site; GBP 40,000 - 55,000; Full time

Job summary

A leading UK pension management company is looking for a Policy Data Management Analyst to enhance its operations. The role involves onboarding schemes, data analysis, and collaborating with various stakeholders for effective data management. Candidates should have a strong academic background in Mathematics or related fields, and knowledge of Defined Benefit Pension Schemes is preferred. Skills in data tools such as MS Excel and Power BI are essential. This position offers competitive benefits including private medical insurance and a generous pension scheme.

Benefits

Private medical insurance

28 days' annual leave

Generous pension scheme

Qualifications

• Good knowledge of Defined Benefit Pension Schemes preferred.
• Basic knowledge of data analysis techniques used for data migration and reconciliation.
• Knowledge of pension buy-ins and buy-outs.

Responsibilities

• Perform scheme onboarding through analysis and data reconciliation.
• Assisting with quarterly data updates by preparing and analyzing calculations.
• Raising data issues with third-party administrators.

Skills

Organization

Communication

Collaboration

Persuasion

Time Management

Education

Strong academic record in Mathematics, Statistics, Economics or Actuarial Science

Tools

MS Excel

MS Word

Power BI

SQL

VBA

RAFM

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

Role purpose

This role sits within the Policy Data Management (PDM) Team, whose responsibility forms part of the end-to-end transition of new business into PIC's operating model.

The PDM team works closely with many stakeholders (namely third-party administrators, Originations, Transitions, Pension Services and Reinsurance Operations, Finance Actuarial and Finance Accounts) to identify and validate all necessary data to support its operations and all downstream systems and processes.

The role requires the ability to:

• Effectively collaborate with all stakeholders to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.
• Apply knowledge and insights concerning the onboarding of new pension schemes and reinsurance treaties to the Policy Data Management (PDM) system and how this impacts our policyholders.
• Deliver strong business outcomes relating to capital, profitability, the Company brand and market reputation whilst achieving positive outcomes to our policyholders and internal customers on a consistent basis.
• Our Company values are expected to be reflected in the delivery and performance of every role.

Specific accountabilities assigned to the role of Policy Data Management Analyst within the Customer Operations function:

• Performing scheme and treaty onboarding through analysis of scheme benefit structures, data reconciliation, system preparation and calculation analysis
• Assisting with quarterly data updates by preparing data and analysing results of calculations
• Raising and chasing data issues with third-party administrators, Pension Services, Reinsurance Ops and Transitions in relation to the above 2 workstreams
• Raising and chasing file delivery issues with third-party administrators
• Processing new scheme and reinsurance business through setting up scheme and treaty details in the PDM system and providing outputs to the New Business Modelling team.
• Responding to queries raised by experience actuaries, often involving in-depth analysis of the underlying data within the PDM system
• Drafting, reviewing and maintaining procedure guides for the various PDM Team processes.
• Identifying issues with the Policy Reference Numbers in intercepted movements and resolving as appropriate
• Reviewing Policy Reference Numbers and policy statuses for new treaties being loaded to the LISA reinsurance administration system

Knowledge

• Good knowledge of Defined Benefit Pension Schemes preferred.
• Basic knowledge of data analysis techniques used for data migration and data reconciliation.
• Knowledge of pension buy-ins and buy-outs.
• Advanced knowledge of MS Excel and MS Word a necessity.
• Good working knowledge of Power BI, SQL, VBA and RAFM an advantage.

Skills

• Strong organisational skills
• Strong communication skills
• Effective collaboration with key stakeholders
• Ability to persuade and influence both directly and indirectly
• Ability to manage own time and workload effectively
• Ability to organize work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams

Experience

• Strong academic record in Mathematics, Statistics, Economics or Actuarial Science or related field, or working toward an APMI qualification
• Intermediate DB Pension experience
• Experience of complex data analysis work

  DE&I at PIC

  At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences. We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed. We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community. While we're proud of our progress, we recognise there's work ahead, and we remain dedicated to listening, learning and evolving together.

  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.