CFA

Role Title

Covenant & Financial Analyst.

6 Principal, Advisory

Market Oversight

From £89,459 per annum depending on skills, qualifications and experience.

Permanent

Brighton/hybrid – 6 days per month in the office.

This role is ideal for someone who:

• Is motivated by helping people and improving outcomes for pension savers.
• Communicates clearly and values careful, accurate work.
• Enjoys working collaboratively in a supportive team environment.
• Is comfortable working with data, insight and a range of systems.
• Is interested in learning and developing expertise across the pensions market.

Your role will sit within our Market Oversight directorate, which plays a central role in helping us understand how the pensions market is evolving and where risks and opportunities are emerging. You will contribute to building a system-wide view of schemes and the wider market—using data, insight and engagement to identify potential risks to members, and to highlight areas where standards can be improved.

This includes monitoring trends, horizon scanning for new developments, and supporting proactive engagement with schemes and industry stakeholders in line with our newly published corporate plan.

Working as part of a multidisciplinary team, you will support oversight activity that goes beyond individual schemes to look at the market as a whole. This means helping to assess risks, inform regulatory priorities, and contribute to interventions where needed. You will also work closely with colleagues and external partners to share insights, influence behaviours, and support a transparent and well-functioning pensions system.

As a Covenant and Financial Analyst you will provide advice in policy-related work and in relation to interventions and supervision of DC Master Trusts, DB pension schemes, consolidation vehicles, CDCs and other emerging areas of innovation in the marketplace with the aim of bringing about the most appropriate outcomes.

This is a great opportunity to get involved in a wide range of work, influencing market practice and gaining exposure to DB, DC and CDC schemes.

• Providing covenant and financial analysis expertise to ensure the successful outcome of interventions and supervision in line with statutory and corporate priorities and objectives.
• Supporting and/or supervising effective negotiations in corporate transactions to protect savers’ benefits.
• Analysing impacts of corporate activity and significant events on pension schemes and their savers.
• Critically assessing the financial sustainability of business plans for Master Trusts, consolidators, CDCs and other emerging models.
• Providing financial input to the development of policy, including secondary legislation for funding, NE’s, authorisation and supervision of Master Trusts, CDCs and other emerging models.
• Assessing DB scheme valuation submissions in line with the updated DB funding code and new covenant guidance, reviewing recovery plans with emphasis on reasonable affordability, sustainable employer growth and reliability of cashflows.
• Assisting in the development of TPR’s operational procedures for the authorisation and supervision of Master Trusts, Consolidators, CDCs and other emerging models.
• Providing risk‑based advice and analysis to project and case teams with specific, technical analysis and recommendations to assist clearance decisions, negotiations, arbitrations and supervision.
• Developing scheme funding plans for high‑risk schemes in conjunction with scheme trustees.
• Acting as a named contact for large schemes and being a point of contact within TPR for these schemes.
• Taking a leadership role in business negotiations in your area of expertise.
• Educating and mentoring case managers and team members on corporate financial and operational analysis and normal business practices.
• Contributing to constructive and useful learning on intervention and supervision approaches to the team and wider organisation.
• Contributing where relevant to best practice advice.

• Experienced corporate banking, insurance or accounting advisory…