BA Pensions – PQ Pensions Actuary

Location
Hounslow (City/Town), London (Greater)
Salary
Competitive salary
Posted
30 Oct 2017
Closes
30 Nov 2017
Sector
Pensions
Contract Type
Permanent
Hours
Full Time

BA Pensions Background

BA Pensions is the combination of:

  • British Airways Pension Services Limited (BAPSL), providing a range of services to the Trustee Boards; and,
  • British Airways Pension Investment Management Limited (BAPIML), providing in-house investment management.

The pension arrangements serviced by BA Pensions are, in brief:

  • Two Defined Benefit schemes, the Airways Pension Scheme (APS) and the New Airways Pension Scheme (NAPS); and,
  • A Defined Contribution scheme, the British Airways Retirement Plan (BARP).

The management vision for BA Pensions is as follows:

  • World class service to all our members;
  • Support the Trustee Directors to take effective decisions leading to optimal member outcomes;
  • Align and build trust between Sponsor, Trustee Directors and members;
  • Modernise our approach; and,
  • Operate as a single team to deliver excellent results for all our stakeholders.

Part-qualified Pensions Actuary Role

BA Pensions are looking for a talented PQ Pensions Actuary to join the team, expanding the in-house actuarial skillset.  This is an ideal role for those looking to broaden their experience and move from consultancy to an in-house position. 

Areas of involvement will include the following:

  • Day-to-day management of the pensions technology system used for reporting, risk analytics and liability tracking;
  • Liaison with in-house admin team to ensure efficient member data extraction, checking procedures and provision;
  • Liaison with in-house investment team on liability management including cashflow provision and manipulation, sensitivity analysis and ALM analysis;
  • Assist in production of regular reporting for in-house teams, Trustee Boards and Committees;
  • Support Trustee training and communication materials;
  • Look to drive efficiency by taking actuarial work in-house where appropriate; and,
  • Involvement in special pensions projects.

Key candidate qualities:

  • Solid actuarial background within the UK pensions industry - ideally gained through experience or in consultancy or in-house.
  • Highly numerical, with strong attention to detail;
  • Experience of working with complex benefit structures;
  • Solid progress made with the actuarial exams – ideally majority of CTs
  • Good communicator, able to explain complicated actuarial concepts to a range of stakeholders;
  • Open and approachable personality who can work well with multiple teams;
  • Proactive nature, able to work to deadlines;
  • Project management experience; and,
  • Strong IT skills, particularly MS Office.

Desirable candidate qualities

  • PFaroe and/or Skyval experience; and,
  • Knowledge and experience of longevity swaps and buy-ins.

Competitive salary – depending on experience and examination progress

Attractive benefits package

Pension study programme

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