Senior Actuary - Investments Business Partnering

Pension Insurance Corporation; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Private medical insurance

28 days annual leave

Generous pension scheme

Job summary

Pension Insurance Corporation is seeking an experienced Senior Actuary to join the Investments Business Partnering team. You will shape investment-related decisions, support the management of Matching Adjustment assets, and collaborate with Risk, Investments and Finance to drive strong outcomes for policyholders and regulators.

Key responsibilities include overseeing MA strategy, governance of the MA portfolio, regulatory interactions with the PRA, stakeholder advisory on investments and asset

Qualifications

• Good technical knowledge of the UK Solvency regime, particularly the Matching Adjustment.
• Established knowledge of actuarial modelling and analysis techniques, as applied to UK life insurers.
• Familiar with regulatory developments on the UK solvency regime, and how this applies to UK life insurance investments.
• Strong organisational skills.
• Strong communication skills, including drafting papers and opinions.
• Ability to succinctly articulate key points from financial / data analysis to a range of audiences.
• Ability to organize work to meet deadlines.
• Experience with MS Excel, PowerPoint, Word; programming languages desirable.

Responsibilities

• Supports the delivery of PIC's MA strategy by providing technical expertise and oversight on MA-related activities, including investment opportunities, regulatory applications and matters affecting the MA portfolio.
• Contributes to the governance and oversight of the MA portfolio by conducting and documenting asset eligibility assessments, evaluating associated risks and implications, and providing high-quality analysis, challenge, management information, committee papers and recommendations to support effective decision-making by senior management and governance committees.
• Supports the successful delivery of MA applications and regulatory interactions with the PRA, including the preparation and review of analysis, briefing materials and responses to requests for information.
• Builds and maintains strong working relationships across PIC and with external stakeholders, acting as a trusted adviser on investment opportunities, asset transfers, MA eligibility and fundamental spread assessments, representing the Finance function professionally and supporting effective business decision-making.
• Responsible for the review of analysis and recommendations relating to Additional Fundamental Spreads under the UK Solvency regime.
• Provides support to the Head of MA and Investment Business Partnering and senior management on strategic, regulatory and cross-functional initiatives, delivering high-quality analysis, challenge and recommendations to support the achievement of PIC's objectives.
• Takes ownership of their professional development in both technical and non-technical areas, continually developing expertise and contributing to the wider capability of the Finance function.
• Keeps informed of industry trends, market developments, regulatory changes and best practice within actuarial science, investments and the pension risk transfer market, sharing relevant insights with colleagues where appropriate.

Skills

Organisational skills

Communication skills

Data analysis

Deadline management

MS Office knowledge

Programming knowledge

Education

Qualified actuary with the Institute and Faculty of Actuaries, or similar body, or a non-actuary with comparable finance-related background.

Tools

MS Excel

MS PowerPoint

MS Word

Job description

We are looking for an experienced Senior Actuary to join our Investments Business Partnering team. In this role, you will play a pivotal role in shaping investment-related decisions, supporting the management of Matching Adjustment assets, collaborating with stakeholders across the business, and driving initiatives that deliver strong customer, regulatory, and commercial outcomes.

• Collaborate effectively with Risk, Investments, and Finance teams to secure stakeholder buy-in and drive improvements to systems, processes, and technology.
• Apply knowledge and insights relating to the management of Matching Adjustment assets and their impact on policyholders.
• Deliver strong business outcomes across capital, profitability, brand reputation, and regulatory compliance, while consistently achieving positive outcomes for policyholders, regulators, and shareholders.
• Demonstrate our Company Values through all aspects of role delivery, collaboration, and decision-making.

Specific accountabilities assigned to the role of Senior Actuary within Capital Insight & Actuarial:

• Supports the delivery of PIC's Matching Adjustment ("MA") strategy by providing technical expertise and oversight on MA-related activities, including investment opportunities, regulatory applications and matters affecting the MA portfolio.

• Contributes to the governance and oversight of the Matching Adjustment portfolio by conducting and documenting asset eligibility assessments, evaluating associated risks and implications, and providing high-quality analysis, challenge, management information, committee papers and recommendations to support effective decision-making by senior management and governance committees.

• Supports the successful delivery of MA applications and regulatory interactions with the PRA, including the preparation and review of analysis, briefing materials and responses to requests for information.

• Builds and maintains strong working relationships across PIC and with external stakeholders, acting as a trusted adviser on investment opportunities, asset transfers, MA eligibility and fundamental spread assessments, representing the Finance function professionally and supporting effective business decision-making.

• Responsible for the review of analysis and recommendations relating to Additional Fundamental Spreads under the UK Solvency regime.

• Provides support to the Head of MA and Investment Business Partnering and senior management on strategic, regulatory and cross-functional initiatives, delivering high-quality analysis, challenge and recommendations to support the achievement of PIC's objectives.

• Takes ownership of their professional development in both technical and non-technical areas, continually developing expertise and contributing to the wider capability of the Finance function.

• Keeps informed of industry trends, market developments, regulatory changes and best practice within actuarial science, investments and the pension risk transfer market, sharing relevant insights with colleagues where appropriate.

Knowledge

• Good technical knowledge of the UK Solvency regime, particularly the Matching Adjustment.

• Established knowledge of actuarial modelling and analysis techniques, as applied to UK life insurers.

• Familiar with regulatory developments on the UK solvency regime, and how this applies to UK life insurance investments.

Skills

• Strong organisational skills

• Strong communication skills, including drafting papers and opinions

• Ability to succinctly articulate key points from financial / data analysis to a range of audiences

• Ability to organize work to meet deadlines

• Good working knowledge of MS Excel, MS PowerPoint, MS Word; programming languages desirable.

Experience

• Qualified actuary with the Institute and Faculty of Actuaries, or similar body, or a non-actuary with comparable finance-related background.

• Experience in developing relationships across multiple, different discipline teams.

• Experience of conducting financial / data analysis and reporting on that work.

• Experience of interacting with or responding to requests from the prudential regulator.

DEI 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.