Senior Actuary - Investments Business Partnering

Pension Insurance Corporation plc; Greater London; On-site; GBP 110,000 - 150,000; Full time

Benefits offered by this job

Private medical insurance

28 days annual leave

Generous pension scheme

Performance-related bonus

Job summary

Pension Insurance Corporation is seeking an experienced Senior Actuary to join the Investments Business Partnering team in the UK. You will shape investment-related decisions, support MA assets, and collaborate with risk, investments and finance to improve systems and governance.

You will provide expert analysis, challenge, and recommendations to senior management and governance committees, while developing professional expertise in the evolving pension risk transfer market.

Qualifications

• Qualified actuary with the Institute and Faculty of Actuaries (IFoA) or equivalent.
• Non-actuary with comparable finance background considered.

Responsibilities

• Support MA strategy and opportunities with technical oversight on MA-related activities.
• Governance of MA portfolio including asset eligibility assessments and risk analysis.
• Assist regulatory interactions with the PRA; prepare analyses and briefing materials.
• Build relationships across PIC and external stakeholders as trusted adviser on MA and investment opportunities.
• Review analyses and recommendations on Additional Fundamental Spreads under UK Solvency regime.
• Support Head of MA and Investment Business Partnering on strategic regulatory initiatives.
• Own professional development and share insights on actuarial, investments and pension risk transfer trends.

Skills

Organisational skills

Communication skills

MS Excel/PowerPoint/Word

Programming languages desirable

Data analysis

Education

Actuary qualification – IFoA

Non-actuary with comparable finance background

Tools

MS Excel

PowerPoint

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.

Benefits

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.