Actuarial Analyst

Contract: Full Time Permanent
Location: Redditch
Hours: Full time
Salary: Competitive

Role Purpose

The Actuarial Team provides specialist actuarial and defined benefits pension consultancy services to pension scheme trustees and to employers who sponsor such schemes.  The role involves working with colleagues in Broadstone, independent trustees, sponsoring employers and third parties.

The Team helps trustees to ensure schemes are appropriately funded, thereby making sure that members of these schemes are paid the benefits that they have been promised.  The Team also helps trustees operate the schemes within the rules of each scheme, and in line with legislation, ensuring members are provided with details of fair options.  Some schemes look at purchasing a buyout policy with an insurance company and we assist the trustees to ensure the policy covers all the intended benefits and is purchased at a fair price.

Responsibilities may include analysing data, preparing calculations, and producing letters and reports for review by colleagues.

Key Accountabilities

  • Liaising with Broadstone colleagues and external third parties
  • Ensuring all work is carried out in accordance with Broadstone standards
  • Analysing data and identifying potential errors, inaccuracies or incomplete data records
  • Carrying out technical calculations relating to individual members of pension schemes for review by colleagues e.g., transfer values, auditing and rectifying benefits, equalising for GMPs
  • Carrying out technical calculations relating to pension schemes for review by colleagues e.g., actuarial valuations, actuarial factor reviews, transfer value basis reviews, reviews of investment strategy, employer debt calculations, and other actuarial costings
  • Assisting other departments e.g., PPF actuarial as needed
  • Other ad hoc duties as designated by Actuarial Managers or Actuarial Directors

 

Technical Knowledge and Professional Qualifications

  • The role assumes no prior knowledge of the UK pensions industry
  • Mathematics ‘A’ level (or international equivalent) at grade A or B minimum
  • Mathematics (or other suitable) degree at 2:1 level minimum
  • Professional qualification routes available

Key Skills

  • Highly numerate, accurate, and literate
  • Ability to readily absorb technical information
  • Strong team-working and communication skills
  • Reliable, flexible, and able to manage own work within strict deadlines
  • Computer literacy including familiarity with Microsoft Word, Excel and PowerPoint an advantage

Overarching Obligations

  • Adhere to all relevant laws & regulations, and Broadstone Policies & Procedures
  • Achieve a good standard of ethical behaviour, i.e., do the right thing at all times
  • Comply with all relevant professional standards
  • Comply with requirements in relation to investment work

 

 

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