PRT Pricing Actuary (12 months Secondment)

Phoenix Group; Greater London; On-site; GBP 59,000 - 72,000; Full time

Benefits offered by this job

Private medical cover

38 days annual leave

Excellent pension

Life assurance - 12x salary

Career breaks

Income protection

Volunteering days

Job summary

Phoenix Group is seeking a PRT Pricing Actuary for a 12‑month secondment. The role will primarily be based in London, with flexibility for Edinburgh, Telford or Birmingham and remote/hybrid arrangements.

You will manage cashflow modelling and pricing for Pension Risk Transfer transactions. The ideal candidate is a qualified actuary with strong technical DB pensions knowledge, GMP franking, and familiarity with Solvency II, pricing, and bulk annuities.

Qualifications

• Qualified actuary or near-qualified.
• Experience in actuarial cashflow modelling for bespoke projects.
• Knowledge of defined benefit pensions including GMP franking and deferred member benefits.
• Appreciation of Solvency II and the Matching Adjustment; bulk annuity modelling and pricing.

Responsibilities

• Assist with ongoing management of Pension Risk Transfer transactions.
• Collaborate with Client Services for data cleanses and transition to buyout.
• Lead production of cash flow and pricing models for PRTs with robust controls.
• Navigate complex/non-standard requests and develop solutions.
• Coach and train junior team members.
• Manage projects to meet contractual requirements and timescales.
• Develop, document, run and maintain actuarial models.
• Present technical content to internal and external stakeholders.

Skills

Actuarial cash flow modelling

Pricing modelling

GMP understanding

Communication

Attention to detail

Education

Actuary qualification or near-qualified

Job description

PRT Pricing Actuary (12 months Secondment)

Telford, England, United Kingdom
London, England, United Kingdom
Edinburgh, Scotland, United Kingdom
(Hybrid)

Job Description

Job Type:12 months Secondment / FTC
Location:This role would ideally be based in our London office but we are also open to hiring in Edinburgh/Telford/Birmingham, with some flexibility to work between the office and home.We will discuss what is important to you and balancing this with business requirements during the recruitment process . You can read more about flexible working here.
Career Family and Level:Niche: Specialist Band 2
Salary and Benefits:from £65,000+ (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

We’re looking for a PRT Pricing Actuary who is a strong actuarial professional with experience in cashflow modelling, assumption setting and developing bespoke solutions for complex pension risk transfer transactions,to help us shape better retirements across the UK. In ourDefined Benefits Solutions team, you’ll play a key role in managing in-force bulk annuity transactions, leading cashflow modelling and pricing activities, and delivering complex post-transaction projects. This is a great secondment opportunity, that will be hired on a 12-months basis.

Who are we?

We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.

Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards.We make room for what matters - so you can bring your best, every day.

Key Responsibilities

Working with the Pricing Managers on the ongoing management of our book of Pension Risk Transfer transactions

Working closely with key internal and external stakeholders such as Client Services in executing data cleanses, including GMP equalisation implementation and the transition to buyout

Leading the production of cash flow and pricing models for PRTs, ensuring robust controls and processes are followed

Working with others to navigate complexities and non-standard requests, driving thinking on solutions

Development, coaching and training of junior members of the team

Leading on project management to ensure that key contractual requirements and timescales are met

Building, developing, documenting, running and maintaining actuarial models

Presenting technical content with confidence to internal and external stakeholders

What are we looking for?

Qualifications:

Be a qualified Actuary or near qualified Actuary

Experience & Knowledge (Essential):

Practical experience of actuarial cash flow modelling, including development of models for bespoke projects and exercises, and application of actuarial methodologies for setting assumptions

Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)

Ideally have an appreciation of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment along with experience of bulk annuity modelling and pricing

Skills and Personal Attributes

Strong problem solving, communication and analytical skill

Ability to work quickly and accurately with a high attention to detail

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

• Locations 20 Old Bailey, London, EC4M 7AN, GB 10 Brindleyplace, Birmingham, B1 2JB, GB 30 Lothian Rd, Edinburgh, EH1 2DH, GB Windsor House, Telford, Shropshire, TF3 4NB, GB (Hybrid)