Senior BPA Business Development Manager

  • Location

    London

  • Sector:

    Insurance

  • Salary:

    Up to £125,000 + Bonus & Benefits

  • Published:

    about 2 months ago

  • Expiry date:

    2020-10-14

  • Client:

    #

About the role

Phoenix Group is building a thriving and growing open business.  Bulk Purchase Annuities (BPA) has been identified as a key driver of this growth. To achieve this, the team is seeking to increase its origination, structuring and execution capabilities. As a result, we have a phenomenal opportunity for an experienced professional to join our team at an exciting time, as we shape our proposition and the way we work to support our growth ambition.

The primary focus of this role will be to lead the origination and execution of new bulk annuity transactions consistent with the Group’s growth aspirations.  This role will also be key to driving the development of Phoenix’s BPA offering, as we seek to expand our proposition for defined benefit pension schemes.

The ideal candidate will have a track record of negotiating complex deals within a BPA context.  They will have excellent commercial and business acumen and an ability to work within a fast paced multi-disciplinary team.

Key Responsibilities

  • To lead the origination of new bulk annuity transactions consistent with the Group's growth aspirations, value metrics, and risk appetite.

  • To lead the execution of bulk annuity transactions.

  • To contribute to the development of the Group's BPA client proposition.

  • To manage, monitor and report on the Group's BPA pipeline.

  • To contribute to the development and implementation of Group BPA strategy and represent the Phoenix Group and its values internally and externally.

  • To identify and mitigate risk within the BPA function.

Skills, Knowledge and Experience

  • A senior professional with considerable experience in the bulk annuity industry.

  • Significant defined benefit pensions technical knowledge within a bulk annuity context.

  • Significant experience of leading the negotiation and execution of BPA transactions or similar gained within an EBC, bulk annuity provider, or reinsurer.

  • Demonstrates a track record of successfully managing complex projects on a day-to-day basis with multiple stakeholders.

  • Excellent commercial and business acumen.

  • Experience in supporting commercial transactions and deal structuring.

  • Strong analytical skills; providing external market and internal management information to add insight and assist in business decision-making.

  • The ability to deliver in high pressure environment whilst maintaining accuracy and quality.

  • Strong awareness of customer and conduct issues to ensure focus and an intrinsic desire to improve the customer experience in a business.

  • Very self-aware with the desire to exceed expectations and demonstrate resilience in overcoming challenges and determination to deliver results for the business.

  • Ability to effectively communicate both verbally and in writing to engage a variety of stakeholders both internally and externally.

  • Understands their impact on others and influences accordingly; builds effective and collaborative relationships internally and externally.

  • Good understanding of the regulatory and governance environment within the insurance regime.

  • A working understanding of S2 requirements.

  • Knowledge of latest industry techniques and practices for arranging and managing reinsurance to support BPA transactions, and on-boarding and managing BPA deals.

About us

Join the Phoenix Group, and you join a unique organisation. It’s not just the 10 million policyholders we serve, or the £240 billion of assets we look after. Or that we’ve been listed as one of the UK's Top Employers for seven years running. It’s the fact we manage predominantly closed life funds in our Heritage business. This means we can focus our innovative thinking and energy into improving outcomes for our existing customers and their customer experience. But that’s not all. We also have an Open business which manufactures and underwrites new products and policies to support people saving for their future in areas such as workplace pensions and SIPPs. We also market corporate pension trustee services and manufacture products to be sold under other brands. Did you know Phoenix Life manufactures SunLife’s market leading Guaranteed Over 50’s plan? Having acquired Standard Life Assurance Limited in 2018, Phoenix is now the largest consolidator of heritage life insurance funds in Europe with a vision to be Europe's Leading Life Consolidator.

Flexible working

Flexible working at Phoenix is: "A lifestyle that fuses your personal and professional life." We believe in a culture of flexibility, depending on the role we may be able to offer working arrangements that suit your needs. In today's world of work/life challenges we recognise getting this right is important to our employees and the success of our business.

Examples of this may include but are not exclusive to the following:

  • Part-time: You would work less than full-time hours for the business, perhaps by working fewer days or hours per week.

  • Flexible hours: Still working your contracted hours, you would have flexibility to start and finish within agreed core working times.

  • Job share: Where the role allows you would voluntarily share the duties of one full-time position with another colleague, splitting the hours on a pro-rata basis.

  • Home working: You would undertake some, or all, of your working duties from home or anywhere else other than the standard allocated place of work (including other Phoenix locations).