Senior BPA Pricing Manager

  • Location

    London

  • Sector:

    Financial Services, Insurance

  • Salary:

    Upto £125,000 + Bonus & Benefits

  • Published:

    5 months ago

  • Expiry date:

    2020-10-15

  • 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 needs to increase its quotation and pricing capabilities. As a result, we have a phenomenal opportunity to join our team at an exciting time, as we shape our proposition and the way we work to support our growth ambition.

Working closely with the Senior Business Development Managers, you will deliver many aspects of the overall proposition, including the core premium, leading on the pricing of deal-specific requirements and developing our route to market.  You'll be able to influence and shape the proposition development in bulk annuities, providing strategic thinking and new ideas to create value.

Key Responsibilities

  • Lead the pricing of complex bulk purchase annuity transactions, consistent with the Group's growth aspirations, value metrics, and risk appetite.

  • Identify opportunities to create value by applying technical knowledge, expertise and problem solving in a fast paced environment.

  • Manage resources within the pricing team to ensure deals are priced both accurately and commercially in line with Phoenix pricing and governance processes, and delivered to agreed timescales.

  • Support the Senior Business Development Managers in the structuring of transactions.

  • Lead on the pricing aspects when executing bulk annuity transactions to ensure that the agreed terms are consistent with the risks priced.

  • Manage Pricing Actuaries and Pricing Analysts, motivating them to achieve the team’s objectives.

  • Lead initiatives to enhance and improve pricing systems and processes.

  • Effectively manage the workload and priorities of multiple projects.

  • Liaise with the Financial Risk Team to ensure that governance processes are followed and that all risks are appropriately analysed, managed and mitigated.

  • Contribute to ad-hoc development projects across the BPA team.

Essential

  • An experienced actuary either through qualifications or experience.

  • Significant defined benefit pensions technical knowledge.

  • Significant experience of pricing bulk annuity transactions, including exposure to liability and capital modelling, deal structuring, longevity reinsurance and investment strategy.

  • Experience in supporting commercial transactions and deal structuring.

  • Strong problem solving and analytical skills, and the ability to work quickly and accurately with a high attention to detail.

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

  • In depth knowledge of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment.

  • Experience of leading teams and developing people.

  • Excellent communication skills, including experience of interacting with a wide range of stakeholders (including external stakeholders).

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

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).