BA Pensions – PQ Pensions Actuary
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