Senior Benefits Calculations Consultant (588AA5A)

Referment; Greater London; On-site; GBP 70,000 - 110,000; Full time

Job summary

Referment, a UK analytics and actuarial consultancy, seeks a pensions modelling specialist to define technical specifications for calculation and modelling systems and to benchmark test results.

You will collaborate with in-house developers, document model requirements, contribute to AI initiatives, mentor colleagues, and help maintain a large pensions platform supporting DB pensions, administration and investment consulting.

Qualifications

• Pensions modelling knowledge to engage with business stakeholders and developers.
• Excel proficiency with strong technical capability.
• Experience with C#/VBA is highly desirable.
• Ability to test and validate actuarial models and software.

Responsibilities

• Define technical specifications for calculation and modelling systems with internal experts.
• Design, build and own benchmark tests for specified functionalities.
• Collaborate with in-house developers throughout feature design and testing.
• Document and communicate changes to users and update professional requirements for models.
• Contribute to AI innovations and increased process automation in pension modelling.
• Share pensions knowledge through training, mentoring and recruitment.
• Support and evolve a large existing system underpinning ongoing work.

Skills

Pensions modelling

Excel

C#/VBA

Actuarial knowledge

Education

IFoA qualification

Tools

Actuarial software

Job description

Referment is working with a UK analytics and actuarial consultancy providing advice across pensions and financial services, energy, health and analytics. You'd join its pensions and investment technology department, which builds and maintains models supporting the firm's defined benefit pensions consulting — spanning pensions actuarial, pensions administration and investment consulting, and covering benefits configuration, calculation and asset-liability modelling.

The Role

• Use your benefits calculation and modelling expertise, with input from other internal subject-matter experts, to agree appropriate technical specifications for the calculation and modelling systems.
• Design, build and own benchmark test results covering specific areas of functionality in a risk-orientated way.
• Work closely with in-house developers on new features and updates as the expert through the development and testing process.
• Consider how new features and changes are communicated to users, documented and reflected in the professional requirements for actuarial models.
• Contribute to emerging areas such as AI innovation, increased process and calculation automation, and Collective Defined Contribution schemes.
• Share and build pensions knowledge in the development teams through training, mentoring and recruitment.
• Support a large existing system that underpins ongoing work, while helping to keep improving it and adapt to changing business requirements.

What We're Looking For

• Sufficient breadth and depth of pensions modelling knowledge to hold credibility with business stakeholders and developers, ideally including first-principles technical defined benefit calculations (for example anti-franking, GMP conversion, retirement options such as bridge pensions and pension increase exchanges, and pensions tax limits) and GMP equalisation methodologies.
• A professional qualification such as IFoA, especially with a pensions focus, or the drive to become comfortable with the professional requirements of actuarial pensions liability modelling.
• Experience testing or using actuarial modelling software to an expert level.
• Excellent technical ability, particularly in Excel; experience of C#/VBA is highly desirable.
• A consulting mindset: solution-focused, able to respond quickly to changing priorities, communicate clearly with a range of stakeholders and work on several projects concurrently.
• A logical, methodical and thorough mindset, with a sense of pride in the quality of the tools.

This could suit a pensions actuary or pensions administrator with strong technical modelling skills who wants a systems-facing subject-matter-expert role, or a pensions software professional with deep UK benefits knowledge.

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