Aviva plc
Location
York, North Yorkshire | United Kingdom
Job description
Due to the continued success and investment in our Bulk and Individual Annuity businesses, an excellent opportunity has arisen to join our Retirement business as Head of BPA Pricing to lead delivery of BPA trading and technical actuarial pricing. Reporting to the Annuity Pricing Director, this role would suit a hard working and commercially minded actuary with experience in DB Pensions de-risking and UK insurance pricing. Strong actuarial and problem-solving skills, a delivery focus and ability to lead a team effectively in a multi-disciplinary, fast paced, technical and competitive market are key.
A bit about the job:
The Bulk Annuity market continues to grow strongly as Defined Benefit pension scheme trustees and employer’s de-risk. Scheme funding levels are improved, and potential for c£40-70bn pa of transitions over the next few years are forecast, including potential for very large strategic transactions of up to £20bn+ alongside a regular flow of deals from £10m-£2bn.
The BPA Pricing team is responsible for our pricing strategy and capability, and then driving successful execution in a complex and competitive market, working on live tenders in conjunction with our BPA Deals, Reinsurance and Asset Origination teams to realise the best opportunities, control risks, and optimise our commercial delivery vs plan.
The team is also responsible for tracking our overall trading performance, oversight of deal pricing and governance, pricing methodology, building and optimising pricing models/tools, setting pricing assumptions, regular planning and forecasting, proposition development, pricing bespoke deal features, supporting development of new strategic opportunities, operation and strengthening of key pricing controls.
The successful candidate will lead a team of c9 qualified and trainee actuaries while working closely with other areas of the wider Annuity Pricing team, including the BPA Dev team (building and maintaining cashflow valuation models), Individual Annuity Pricing, and supporting delivery of strategic projects. The role will work with senior colleagues across the BPA team, wider Retirement businesses (Individual Annuities and Equity Release), Finance, Risk and Group, so will require the ability to build effective relationships.
Skills and experience we’re looking for:
Qualified Actuary (or similar experience)
Detailed knowledge and understanding of DB pensions (products, scheme features etc.) in relation to the bulk annuity de-risking market as well as expertise with pricing methodologies, models, and tools and controls
Detailed knowledge of Solvency 2 and IFRS requirements in relation to Bulk Annuities
Strong track record of successfully building, leading and developing teams
Strong commercial focus, technical expertise, communication (verbal, written), collaboration, and a risk and control mindset
What you’ll get for this role:
Our purpose - with you today, for a better tomorrow – is a promise we make to our colleagues too. And one of the ways we live up to that promise is by investing in you. We have so much to offer when it comes to being an Aviva colleague.
Competitive salary, depending on location, skills, experience, and qualifications,
Bonus opportunity - 25% of annual salary actual amount depends on your performance and Aviva’s.
Generous pension scheme - Aviva will contribute up to 14%, depending on what you put in.
29 days holiday plus bank holidays, and you can choose to buy or sell up to 5 days
Make your money go further - Up to 40% discount on Aviva products, and other retailer discounts
Up to £1,200 of free Aviva shares per year through our Matching Share Plan and share in the success of Aviva with our Save As You Earn scheme
Brilliantly supportive policies including parental and carer’s leave
Flexible benefits to suit you, including sustainability options such as cycle to work
Make a difference, be part of our Aviva Communities and use your 3 paid volunteering days to help others
We take your wellbeing seriously with lots of support and tools
Take a look to learn more. Put a salary into this calculator to see what your total Aviva Reward could be.
Aviva is for everyone:
We’re inclusive and welcome everyone – we want applications from people with diverse backgrounds and experiences.
Excited but not sure you tick every box? Research tells us that women, particularly, feel this way. So, regardless of gender, why not apply. And if you’re in a job share just apply as a pair.
We flex locations, hours and working patterns to suit our customers, business, and you. Most of our people are smart working –spending around 50% of their time in our offices every week - combining the benefits of flexibility, with time together with colleagues.
To find out more about working at Aviva take a look here
We interview every disabled applicant who meets the minimum criteria for the job. Once you’ve applied, please send us an email stating that you have a disclosed disability, and we’ll interview you.
We’d love it if you could submit your application online. If you require an alternative method of applying, please give Guv Johal a call on 0750 008 7919 or send an email [email protected] .
We help our 18 million customers to save for the future and manage the risks of everyday life. To give these customers the best possible products and service we know we must make Aviva the most attractive choice for talented, entrepreneurial people with diverse backgrounds and an evolving range of expertise and insight.
So, we’re passionate about helping our 22,000 people to do the best work of their lives, to enable them to make a positive difference to the lives of our customers.
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