Actuary

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for an Actuary to join its Actuarial Reporting team on a 12 month Fixed Term Contract basis. The team contributes to PIC’s overall success by delivering actuarial information and analysis across the business. Information produced by the team is reported internally and externally, including to the Athora Group, and is crucial to PIC’s success and smooth running.

In this role, you are part of the team responsible for ensuring that monthly, quarterly, semi-annual and annual actuarial reporting is prepared in a timely and accurate fashion and is appropriately analysed, explained and communicated both within and externally to PIC.

The Reporting team produces regular actuarial MI on hedging, capital raising, assets, new business, solvency, sensitivity to assumptions etc. The team are required to investigate and explain variances against forecast and planned results to the FP&A team, and in the information used for Asset Liability Matching.

The role may involve significant interactions with the teams onboarding new business and new reinsurance treaties, the modelling and data teams, and the Business Partnering teams in Finance, as well as other relevant teams across PIC.

You will also be expected to contribute to supporting ad hoc projects and delivering process improvements to the Reporting team.

• Contribute extensively to the preparation, analysis and review of internal monthly/quarterly Solvency II and IFRS 17 (Group and Local) reporting KPIs and analyses, including the P&L/analysis of movement of these items and information for year-end and half-year reports
• Take ownership for a specific area of the regular production process (such as liability production, capital reporting, asset analysis, new business reporting, …) ensuring that key controls and reviews are followed, and escalating specific issues with senior team members as required
• Collaborate with the broader Finance accounting and reporting, Business Partnering and FP&A teams to answer queries and provide required analysis, and support in investor interactions, regulatory requests and interactions with external audit and Group as required
• Contribute to the regular review, and implement enhancements where necessary, to the related methodology underpinning these results, including deep‑dives into specific areas of methodology where needed
• Drive the identification and implementation of enhancements to the actuarial reporting production processes and/or quality of output; for example improving the documentation of methodology or production processes and implementing identified initiatives to streamline or enhance the production processes
• Understand the implications of changes to the business, reporting metrics and wider business processes on the processes and output of the reporting team; and work to embed large‑scale changes across the reporting processes
• Support the Deputy Head of Actuarial Reporting, the Head of Actuarial Reporting and the Financial Controller in other ad hoc actuarial investigations and firm‑wide projects as they arise
• Coach and develop less experienced members of the Actuarial Reporting team

• Qualified actuary (Fellow of the Institute & Faculty of Actuaries or equivalent)
• Post‑qualified experience in a consulting or pensions/life insurance industry background
• Experience of delivering ad hoc projects or investigations, particularly in an actuarial reporting context (beneficial but not essential)
• Experience in use of visualisation tools (for example, PowerBI), programming languages (for example, R and Python) and actuarial modelling software (for example RAFM) (beneficial but not…