Interim DB Actuary
To help with new projects coming online, my client is looking for 2/3 contractors to work in London or Reigate in the DB actuarial team. You must be able to start quickly (in September/early October) and you must have relevant experience of the DB market and DB pension scheme benefits.
The purpose of this role is, with oversight of DB pricing Actuary, to undertake the pricing and actuarial input required to support the delivery of the DB business plan.
This will include all aspects of BAU delivery and other ad hoc requirements.
The role holder will have experience of the DB de-risking market, including in particular DB schemes benefit structures, and some knowledge of the commercial and technical aspects of buy-in/buyout transactions.
- Delivery of new business quotations. This includes: modelling of scheme benefits, proposal of scheme specific assumptions where required, production of all scheme specific KPI’s including metric for profit and capital, additional analysis and support as required, drafting and review of quotation documentation.
- Communicating with consulting actuaries, administrators and trustees as required.
- Input into pricing proposal, in particular the actuarial aspects for consideration.
- Drafting of pricing proposals and documentation of decisions.
- Commercial and actuarial support to contract negotiation.
- Doing/checking and reviewing other team member’s work.
- Support of transition of schemes from transaction to BAU, includes; production and reconciliation of all post sale quotations as required, support to data cleanse.
- Maintenance and running of data cleansing tools.
- Delivery of all in force member quotations. Maintenance of systems and basis for member quotation delivery.
- Maintenance of pricing DB basis and processes, and input into reviews as required. Adherence to pricing governance
- Support to Pricing and other systems development as required.
- Maths based degree.
- Qualified or Nearly Qualified Actuary or equivalent experience
- Skills and Knowledge
- Excellent problem analysis and resolution skills.
- Excellent verbal, written communication and interpersonal skills, with the ability to present complex financial concepts in a clear and concise manner.
- Excellent IT skills especially with spreadsheets.
- An understanding of the Defined Benefit market and DB benefit structures.
- An understanding of Life Company annuity products and pricing is desirable.
- An understanding of actuarial mathematical techniques.