In this role you will support complex reinsurance administration and actuarial modelling for Defined Benefit pensions. You will join a hybrid team working with Technology and Data to enhance systems and data controls, while delivering robust cashflow models and de-risking solutions. You will act as a key technical and governance authority, translating complex actuarial concepts for stakeholders. This is an opportunity to shape reinsurance processes and data-enabled decision making in a specialist pensions environment.
Responsibilities
Perform detailed reinsurance reconciliations to align administration with treaty terms
Reconcile inception data, claims and premium projections, movements and lump-sum settlements
Assess impacts on collateral calculations and produce management reporting
Design and maintain Excel-based cashflow models for premiums, claims, lump sums and collateral valuations
Ensure accuracy of historic actuarial basis reviews
Serve as escalation point for disputes and drive timely resolutions
Establish modelling processes, documentation, audit trails and version controls
Collaborate with Technology, Data and Architecture teams to create centralized reinsurance administration capabilities
Configure, test and validate reinsurance arrangements including calculations, cashflows and collateral mechanics
Develop and test end-to-end data feeds ensuring data accuracy and auditability
Key requirements
5+ years' experience in pensions, life insurance and/or longevity reinsurance
Extensive experience with reinsurance reconciliations
Deep knowledge of Defined Benefit pension schemes and rules interpretation
Strong understanding of benefit calculations (GMP, revaluation, increases, early/late retirement)
Proficient in building actuarial cashflow projection models in Excel
Knowledge of reinsurance treaties, premiums, claims and collateral calculations
Strong analytical, reconciliation and problem-solving skills
Ability to communicate complex actuarial issues to technical and non-technical stakeholders
Experience collaborating with Technology/Data teams on systems and data feeds
Commercial knowledge of pension de-risking products (bulk annuities, longevity swaps) is desirable
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