DB Transaction Solutions Senior Analyst

Date Posted: 17/02/2025

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.

The purpose of this role is to undertake actuarial input on asset solutions and funded reinsurance as required to support delivery of the Defined Benefit (DB) Business Plan and the management of ongoing funded reinsurance contracts.

• Support the Head of DB Transaction Solutions with the development of tools, processes and methodologies for the production of price locks for DB transactions, working closely with the DB pricing team to streamline BAU price lock production.
• Model pension scheme liquid asset portfolios to create bespoke price locks for larger transactions. This will involve reviewing asset information provided by employee benefit consultancies; raising necessary queries; modelling the portfolios; and extracting necessary pricing data from Bloomberg.
• Monitor aggregate market risk exposure across ongoing DB transactions and summarise for the Pricing Committee and Market Risk Forum.
• Liaise with Derivative Solutions and ALM teams on the implementation of hedges to mitigate market risk in “exclusivity”.
• Give initial consideration to scheme requests to transfer liquid assets in-specie as part of premium payment and coordinate with the Investment Team on more detailed analysis.
• Support the Head of DB Transaction Solutions with the continued development pricing methodologies for larger DB transactions – including bespoke pricing approaches for specific deals.
• Collateral management for existing funded reinsurance arrangements and support for the DB Reinsurance Development team in relation to new funded reinsurance agreements.
• Develop a deep knowledge of systems and tools used across DB and ensure further developments are efficiently integrated. This will include developing proficiency in programming languages utilised in DB (in particular, Julia) and a focus on scalable coding solutions that limit reliance on excel.

Qualifications

• 2.1 or above in a technical/mathematical degree is desirable
• Many of our wider team are working towards an FIA qualification which may be useful for the role, however, we are also keen to consider individuals who have ceased or are not working towards an actuarial qualification, or are working towards alternative qualifications (e.g. CFA)

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 working with pension scheme asset portfolios and using Bloomberg 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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