Acutary – DB Pensions

Overview

In this role you will support complex reinsurance administration and actuarial modelling for Defined Benefit pensions. You will join a hybrid team working with Technology and Data to enhance systems and data controls, while delivering robust cashflow models and de-risking solutions. You will act as a key technical and governance authority, translating complex actuarial concepts for stakeholders. This is an opportunity to shape reinsurance processes and data-enabled decision making in a specialist pensions environment.

Responsibilities

• Perform detailed reinsurance reconciliations to align administration with treaty terms
• Reconcile inception data, claims and premium projections, movements and lump-sum settlements
• Assess impacts on collateral calculations and produce management reporting
• Design and maintain Excel-based cashflow models for premiums, claims, lump sums and collateral valuations
• Ensure accuracy of historic actuarial basis reviews
• Serve as escalation point for disputes and drive timely resolutions
• Establish modelling processes, documentation, audit trails and version controls
• Collaborate with Technology, Data and Architecture teams to create centralized reinsurance administration capabilities
• Configure, test and validate reinsurance arrangements including calculations, cashflows and collateral mechanics
• Develop and test end-to-end data feeds ensuring data accuracy and auditability

Key requirements

• 5+ years’ experience in pensions, life insurance and/or longevity reinsurance
• Extensive experience with reinsurance reconciliations
• Deep knowledge of Defined Benefit pension schemes and rules interpretation
• Strong understanding of benefit calculations (GMP, revaluation, increases, early/late retirement)
• Proficient in building actuarial cashflow projection models in Excel
• Knowledge of reinsurance treaties, premiums, claims and collateral calculations
• Strong analytical, reconciliation and problem-solving skills
• Ability to communicate complex actuarial issues to technical and non-technical stakeholders
• Experience collaborating with Technology/Data teams on systems and data feeds
• Commercial knowledge of pension de-risking products (bulk annuities, longevity swaps) is desirable

• clear communication
• stakeholder engagement
• problem-solving
• Excel cashflow modelling
• reinsurance reconciliations
• data feeds and data testing

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