Responsibilities:
To work independently as a member of the Pricing team undertaking a variety of different tasks to enable the department to meet its objectives as agreed by the Head of Pricing including:
- Developing and Maintaining pricing models for annuity business, including bulk annuities that adhere to our risk tolerances and are scalable for future growth.
- Preparation and analysis of policyholder data for pricing, including methods and assumptions for addressing gaps in data.
- Experience investigations for factors affecting pricing assumptions.
- Supporting the valuation, including Solvency II, UK GAAP and IFRS17 reporting.
- Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business.
- Ad hoc tasks as required.
- Comply with the FCA's conduct (and senior conduct) and Consumer Duty rules and the PRA's conduct (and senior manager conduct) standards as set out at rulebook/Content/Part/302677 and handbook/COCON/2/?view=chapter
- Notify the regulator(s) of matters reasonably expected to be notified.
Core Competencies:
- Knowledge of UK Defined Benefit Pensions and reinsurance structures.
- Understanding of actuarial concepts related to annuity pricing and valuation.
- Good communication skills.
Experience and Qualifications:
- Part qualified Actuary
- Experience of working within pensions or similar role with an insurer.
- Experience of cashflow modelling and pricing.