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About the Role

This is an opportunity for a part-qualified actuary to apply their technical expertise in the UK's leading Bulk Purchase Annuity businesses. You will play a key role in shaping and delivering pricing solutions that help secure better retirements for thousands of pension scheme members. Joining our award-winning Defined Benefit Solutions team, you'll gain exposure to high-profile BPA and Reinsurance transactions within a growing, market-leading business. You will contribute to the pricing and execution of transactions ranging from straightforward schemes to some of the largest and most complex opportunities in the market.

Responsibilities

Support the pricing and execution of Bulk Purchase Annuity and Reinsurance transactions, working closely with Pricing Actuaries and Business Development Managers.
Contribute to the ongoing development and optimisation of pricing approaches to maintain a strong and competitive market position.
Take responsibility for modelling pension scheme liabilities to generate benefit cash flows from individual member data and benefit schedules.
Modelling and assessing capital requirements and producing sensitivity analyses to assist with pricing, governance and bids for new transactions.
Build, develop, document, run and maintain actuarial models, ensuring robust controls and processes are followed (including development of bespoke financial models for strategic projects).
Help ensure BPA transactions are priced accurately and commercially, aligned to our risk appetite, governance framework and delivery timescales.

Requirements

Be a part qualified actuary, and on the pathway to qualify - study support and paid study leave for actuarial qualifications will be offered by Standard Life.
Practical experience of actuarial cash flow modelling for pensions in payment and deferred benefits
Strong technical knowledge of defined benefit pensions, including experience of modelling GMP benefits, franking and deferred member benefit calculations
Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
Strong problem solving and analytical skills, and the ability to work quickly and accurately with a high attention to detail
An understanding of, or interest in developing knowledge of, the regulatory and commercial environment in which long-term savings and insurance businesses operate, including Solvency II, Matching Adjustment and BPA pricing.

Location

London

Work Type

Permanent
Hybrid

Experience Level

Subject to experience

Education Level

Part qualified actuary

Salary/Compensations

£40,000+

Benefits

Bonus
Private medical cover
38 days annual leave
Excellent pension
12x salary life assurance
Career breaks
Income protection
3x volunteering days

About the Company

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.

Equal Opportunity

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.