Pensions are making headlines. People are living longer, and need to save more for later life.
The Government has introduced a number of major reforms to the pensions system. At The Pensions Regulator, the UK regulator of work-based pension schemes, you can contribute to making these changes a success.
We strive to be a strong, agile, fair and efficient regulator and a well-informed and pragmatic thought leader. Through this we seek to gain the respect of employers, trustees, our partners and other stakeholders.
Together with our partners, we will create better outcomes in later life for workplace savers, drive up standards of trusteeship and improve savers’ understanding of their situation.
We will make the regulator a great place to work and do all we can to support our people to reach their full potential by providing an exciting, supportive and flexible working environment.
We’re looking for up to two investment consultants to provide specialist advice and expertise as part of the investment team. These areimportant roles offering substantial intellectual and professional stimulation. They involve regular exposure to some of the most complex investment issues in the UK.
The Pensions Regulator is the UK regulator of work-based pension schemes. Our principal aim is to prevent problems from developing. We use our powers flexibly, reasonably and appropriately, with the aim of putting things right and keeping schemes on the right track for the long term.
Key responsibilities of the role include:
· advise colleagues on DB schemes’ investment strategies, in the context of the their sponsor covenant and funding strategy.
· provide specialist investment input to our regulatory policy and publications e.g. DB and DC Codes of Practice, regulatory guidance, and the Trustee Toolkit.
· contribute to the regulation of DC pension schemes, e.g. in the areas of quality standards, value for money and charge capping.
· contribute to the supervision of DC master trusts
· help raise the profile of the regulator amongst the UK pension scheme investment community.
For these roles we need individuals with the following knowledge and experience:
· Knowledge of DB investment strategy including:
o The principal asset classes and their risk / return characteristics
o An understanding of how actuaries value pension scheme liabilities
o The principal liability hedging techniques and their implementation
o Setting investment strategy having regard to sponsor covenant and scheme funding strategy
o Using deterministic and stochastic models of scheme assets and liabilities, including stress tests and scenario analysis
· Knowledge of investment in DC pensions including:
o Default fund investment strategies
o Performance measurement
o Charging structures
o Transaction costs
· Ability to work well with non-investment colleagues, e.g. case managers, actuaries, covenant advisers, lawyers and policy experts
· Broad familiarity with the legislative and regulatory environment for UK workplace pension investment