DB Senior Actuarial Analyst

Date Posted: 15/08/2024

Location: London

Job Type: Full time

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Who are Just?

We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.

We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.

That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.

Purpose

To support Just’s ambitious growth plans, we are recruiting a DB Senior Pricing Analyst to join our DB (Defined Benefit) Pricing team. The role will involve supporting the DB team in their objectives to deliver a market leading Bulk Annuity service and grow in line with our business plan.

About the role:

You will be a key member of the DB Pricing team and deliver new business quotations in an accurate and timely manner.
Mange projects and project teams, proactively driving them forward to ensure they are progressed in line with expected timescales.
Develop a deep technical and operational knowledge of all systems and tools used in DB. Continuously look for areas where we can improve – our people have a proactive approach to integrating technology into daily tasks and processes in order to drive innovation and efficiency.
Provide support in ad hoc tasks such as data analysis, proposition developments, systems testing and process improvements. Take the lead on these and seek out opportunities to contribute to the wider DB team.
Be curious, proactive and open to new ideas - applicants should demonstrate a track record of adapting to change, embracing technology, learning from experience, and showing resilience in the face of obstacles.
Develop strong technical skills, for example by learning new coding languages, in order to support the development of models, tools and processes in the team.
Proactively promote a culture of collaboration and engagement within the DB Pricing team, set an example for junior team members and help with coaching/training of the team.
Work closely and collaborate with our DB Reinsurance and Commercial teams in order to ensure effective delivery of competitive, market leading propositions.
Conduct line management responsibilities where necessary.

Examples of Key Activities

Contribute to the completion and checking (as appropriate) of the pricing process – populating and running pricing models to calculate premiums, including manipulation of data, assumption setting and calculation of all associated pricing metrics in line with the agreed pricing basis and governance processes in place.
Check drafts of internal sign off documentation for each quotation, ensuring results are presented to the DB Pricing Actuary in a clear manner, outlining all material areas of judgement and limitations. Present these to governance committees as necessary.
Check quotation documents to be issued externally, work with the DB Commercial team to insure these are of a high standard.
Ensuring audit trails are maintained on every transaction and that our risk and control processes are adhered to.
Assist with development and refinement of pricing models and process – through building, reviewing, testing and deploying updates.

Qualifications

A technical/mathematical degree is desirable
Many of our team are working towards an FIA qualification which may be useful for the role, however, we are keen to consider individuals who have ceased or are not working towards an actuarial qualification

Skills and Knowledge

Strong numeracy skills
Strong analytical and problem solving skills
Strong IT skills including Excel and programming languages, and a keen attitude to learn where these skills don’t exist
Good interpersonal and team working skills
Excellent verbal and written communication skills, with the ability to present complex financial concepts in a clear and concise manner
Ability to work without close supervision
Sound knowledge of technical actuarial concepts, particularly principles underlying bulk annuity pricing
Good knowledge and awareness of the DB buy in/buy out market, life insurance and relevant regulation.

Experience

Experience of working within a related field (pensions, insurance, finance) is desirable.
Coding experience is desirable, for example Julia, Python and/or VBA.

Why Just?

We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.

Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.

What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly - each other.

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