Pension Corporation
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. At PIC, we are recruiting for an Investment Manager to join our PIC Capital department. This role requires the ability to apply knowledge and insights relating to affordable housing with a focus on deal structuring and how this adds value to the PIC Capital team and overall Investments function goals and strategy, delivering strong business outcomes relating to capital, profitability, the Company brand and market reputation relating to affordable housing whilst achieving positive outcomes for our policyholders and shareholders on a consistent basis. Specific accountabilities assigned to the role of Investment Manager (Deal Structuring) within PIC Capital: Works in partnership with the Senior Investment Manager in the successful delivery of the Affordable Housing investment strategy, focusing on benefits and risks to PIC, maintaining compliance with our risk framework and regulatory requirements. Implements and manages PIC's for-profit registered provider of social housing ("FPRP") in terms of governance and strategic oversight. Originates new real estate investment transactions in line with the defined strategy. Takes ownership of the assessment and execution of new Real Estate investment opportunities including: Analytical assessment and interpretation of information relevant to PIC. Oversight of the creation and maintenance of financial models to inform investment decisions, working with the Mortgages and Private Asset Optimisation (MAPAO) team as required. Applying due diligence of transactions, including managing external advisors such as investment agents, legal advisors, technical, tax, and valuation. Management of negotiation and execution of transactions with external counterparties such as vendors, developers, and co-investors, ensuring clarity on terms and structure, and that associated risks are understood and managed. Prepare comprehensive internal and committee reports that demonstrate sound analysis and recommendations of Real Estate transactions as part of the PIC Capital Investment Strategy. Effectively collaborate with all internal stakeholders (primarily Origination, Investments/Finance, Risk/Legal) and external parties such as NEDs and agents/advisors to achieve the Company's strategic goals and objectives. Provide ongoing support to other teams involved in the management of transactions closed, including the Transaction Management team and the Operational Assets team. Takes ownership of their own learning and development in both technical (e.g., data analysis and financial modelling) and non-technical (self-insight and relationship management) skills of PIC Capital. Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to Real Estate by attending industry seminars, reading, and sharing relevant published articles. Experience: Recognised qualification in relevant field and/or strong employment record in delivering operational real estate transactions across asset classes within an investment/asset management context. Proven experience in the management of financial and commercial responsibilities relating to real estate (residential housing). Demonstrable experience of effective report writing across various internal stakeholders. Proven experience of structuring real estate investments. Experience working in a corporate or consulting environment, in pension fund/annuity or pension insurance sector would be an advantage. Knowledge: Good technical knowledge of financial and commercial aspects of investment as it relates to residential housing. Knowledge of real estate underwriting and acquisition exposure. Established knowledge of real estate cash flows and value drivers. Knowledge of writing and presenting committee papers. Knowledge and experience in structuring various real estate investment vehicles such as GPUTs, LLPs, LPs, Ltd companies, and REITs. Familiar with the requirements of operating within a regulated environment. Skills: Strong organisational skills, self-starter/motivator. Strong communication skills. Ability to persuade and influence both directly and indirectly. Ability to organize work to meet deadlines. Ability to work within defined procedures as recommended by functional teams. Commercial judgement. Good working knowledge of MS Access, MS PowerPoint, MS Word. In addition to a competitive base salary and the opportunity to participate in our annual performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, and much more.
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. At PIC, we are recruiting for an Investment Manager to join our PIC Capital department. This role requires the ability to apply knowledge and insights relating to affordable housing with a focus on deal structuring and how this adds value to the PIC Capital team and overall Investments function goals and strategy, delivering strong business outcomes relating to capital, profitability, the Company brand and market reputation relating to affordable housing whilst achieving positive outcomes for our policyholders and shareholders on a consistent basis. Specific accountabilities assigned to the role of Investment Manager (Deal Structuring) within PIC Capital: Works in partnership with the Senior Investment Manager in the successful delivery of the Affordable Housing investment strategy, focusing on benefits and risks to PIC, maintaining compliance with our risk framework and regulatory requirements. Implements and manages PIC's for-profit registered provider of social housing ("FPRP") in terms of governance and strategic oversight. Originates new real estate investment transactions in line with the defined strategy. Takes ownership of the assessment and execution of new Real Estate investment opportunities including: Analytical assessment and interpretation of information relevant to PIC. Oversight of the creation and maintenance of financial models to inform investment decisions, working with the Mortgages and Private Asset Optimisation (MAPAO) team as required. Applying due diligence of transactions, including managing external advisors such as investment agents, legal advisors, technical, tax, and valuation. Management of negotiation and execution of transactions with external counterparties such as vendors, developers, and co-investors, ensuring clarity on terms and structure, and that associated risks are understood and managed. Prepare comprehensive internal and committee reports that demonstrate sound analysis and recommendations of Real Estate transactions as part of the PIC Capital Investment Strategy. Effectively collaborate with all internal stakeholders (primarily Origination, Investments/Finance, Risk/Legal) and external parties such as NEDs and agents/advisors to achieve the Company's strategic goals and objectives. Provide ongoing support to other teams involved in the management of transactions closed, including the Transaction Management team and the Operational Assets team. Takes ownership of their own learning and development in both technical (e.g., data analysis and financial modelling) and non-technical (self-insight and relationship management) skills of PIC Capital. Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to Real Estate by attending industry seminars, reading, and sharing relevant published articles. Experience: Recognised qualification in relevant field and/or strong employment record in delivering operational real estate transactions across asset classes within an investment/asset management context. Proven experience in the management of financial and commercial responsibilities relating to real estate (residential housing). Demonstrable experience of effective report writing across various internal stakeholders. Proven experience of structuring real estate investments. Experience working in a corporate or consulting environment, in pension fund/annuity or pension insurance sector would be an advantage. Knowledge: Good technical knowledge of financial and commercial aspects of investment as it relates to residential housing. Knowledge of real estate underwriting and acquisition exposure. Established knowledge of real estate cash flows and value drivers. Knowledge of writing and presenting committee papers. Knowledge and experience in structuring various real estate investment vehicles such as GPUTs, LLPs, LPs, Ltd companies, and REITs. Familiar with the requirements of operating within a regulated environment. Skills: Strong organisational skills, self-starter/motivator. Strong communication skills. Ability to persuade and influence both directly and indirectly. Ability to organize work to meet deadlines. Ability to work within defined procedures as recommended by functional teams. Commercial judgement. Good working knowledge of MS Access, MS PowerPoint, MS Word. In addition to a competitive base salary and the opportunity to participate in our annual performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, and much more.
Pension Corporation
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. At PIC, we are recruiting for a Senior Risk Actuary to join our Risk department in a newly created role. The Risk department contributes to the overall success of the business by providing the framework and information that supports the delivery of the strategy within the acceptable limits established by the Board. You will provide primary support to our Head of Actuarial Assurance and the Actuarial Function Holder (AFH) overseeing the management of PIC's matching adjustment fund, providing wider support to the Head of Actuarial Assurance, the Head of Risk Modelling & Validation and the Head of Transaction Risk on the oversight of PIC's reporting, capital, reinsurance, underwriting, hedging, liquidity and collateral management risks. The role requires the ability to effectively collaborate with numerous 1st line teams (including Finance, Investments, Origination and Operations) as well as sub-teams within Risk (such as the Investment & Counterparty Risk team, Non-Financial Risk team, Regulatory Affairs and the ERM team) to ensure that the risks are appropriately managed. Specific accountabilities assigned to the role of Senior Risk Actuary (MA Fund Management) within the Risk function: To provide primary support to the Head of Actuarial Assurance and the AFH overseeing the management of the matching adjustment fund, including: Leading the review of eligibility assessments for new asset classes and liability features. Supporting the submission of new matching adjustment applications and the implementation of regulatory requirements and developments. Leading other BAU activity, such as the review of any trades and/or transfers affecting the matching adjustment fund and MI presented to committees. To provide wider support when required to the Head of Actuarial Assurance, the Head of Risk Modelling & Validation and the Head of Transaction Risk (as applicable), such as: Reviewing the calculations supporting the annual and monthly reporting metrics, and the weekly solvency updates. Providing 2nd line oversight of core areas such as new business pricing, hedging, liquidity and collateral management. Leading and reporting on deep dive reviews, e.g. reporting processes, experience analyses, data quality, internal model risk modules or processes, or aggregation routines. Leading ad-hoc investigations into emerging issues within areas of responsibility. Contributing to the planning and co-ordination of the annual cycle of line 2 review work, within areas of responsibility. To provide line 2 support to the relevant first line business areas, in particular, Finance-Actuarial, Investments, Capital Management and the Internal Assurance Functions. To provide oversight of junior members of the Actuarial Assurance Function, within areas of responsibility. From time to time, deputise for the Head of Actuarial Assurance and Actuarial Function Holder at management level committee meetings, within areas of responsibility. Experience: Qualified actuary with some post-qualified experience. Must possess experience in relation to the management of the matching adjustment, from either a 1st line or 2nd line perspective. Familiarity with the UK regulatory environment and specific solvency regime, as it relates to bulk annuity business. Ideally have experience working within an independent challenge function, e.g. a 2nd line Risk Function, consulting role or audit. Knowledge: Excellent knowledge of matching adjustment regulatory requirements and developments. Good knowledge of UK bulk annuities and illiquid assets. Good knowledge of legal, regulatory and industry requirements. Good knowledge of the Solvency II balance sheet (and associated elements, e.g. matching adjustment) and/or IFRS 17. Some familiarity with the SMF20 ('Chief Actuary') responsibilities. Some familiarity with relevant business processes, standards, policies and procedures; and the relevant legal, regulatory and industry requirements. Skills: Willing and able to develop a strong technical understanding of the complex methodology, processes and regulatory requirements with respect to the management of the matching adjustment. Good written and oral communication skills, with ability to communicate complex actuarial information to senior management, their direct reports and a range of external parties. Must be able to, or develop skills required to provide robust and credible opinions, with limited oversight. Must be able to manage self and others and communicate effectively with other areas of the business. Ability to distil information and apply judgement. Must be able to build internal and external relationships to maintain an understanding of developing practices across the market. Desirable personal attributes aligned to what success looks like in the role: Intellectually curious with a willingness to learn through own research. Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function. Effective communicator - structures insights into clear messages and effectively engages others within the business function, as well as internal stakeholders, professional and regulatory bodies. Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance. In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.
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. At PIC, we are recruiting for a Senior Risk Actuary to join our Risk department in a newly created role. The Risk department contributes to the overall success of the business by providing the framework and information that supports the delivery of the strategy within the acceptable limits established by the Board. You will provide primary support to our Head of Actuarial Assurance and the Actuarial Function Holder (AFH) overseeing the management of PIC's matching adjustment fund, providing wider support to the Head of Actuarial Assurance, the Head of Risk Modelling & Validation and the Head of Transaction Risk on the oversight of PIC's reporting, capital, reinsurance, underwriting, hedging, liquidity and collateral management risks. The role requires the ability to effectively collaborate with numerous 1st line teams (including Finance, Investments, Origination and Operations) as well as sub-teams within Risk (such as the Investment & Counterparty Risk team, Non-Financial Risk team, Regulatory Affairs and the ERM team) to ensure that the risks are appropriately managed. Specific accountabilities assigned to the role of Senior Risk Actuary (MA Fund Management) within the Risk function: To provide primary support to the Head of Actuarial Assurance and the AFH overseeing the management of the matching adjustment fund, including: Leading the review of eligibility assessments for new asset classes and liability features. Supporting the submission of new matching adjustment applications and the implementation of regulatory requirements and developments. Leading other BAU activity, such as the review of any trades and/or transfers affecting the matching adjustment fund and MI presented to committees. To provide wider support when required to the Head of Actuarial Assurance, the Head of Risk Modelling & Validation and the Head of Transaction Risk (as applicable), such as: Reviewing the calculations supporting the annual and monthly reporting metrics, and the weekly solvency updates. Providing 2nd line oversight of core areas such as new business pricing, hedging, liquidity and collateral management. Leading and reporting on deep dive reviews, e.g. reporting processes, experience analyses, data quality, internal model risk modules or processes, or aggregation routines. Leading ad-hoc investigations into emerging issues within areas of responsibility. Contributing to the planning and co-ordination of the annual cycle of line 2 review work, within areas of responsibility. To provide line 2 support to the relevant first line business areas, in particular, Finance-Actuarial, Investments, Capital Management and the Internal Assurance Functions. To provide oversight of junior members of the Actuarial Assurance Function, within areas of responsibility. From time to time, deputise for the Head of Actuarial Assurance and Actuarial Function Holder at management level committee meetings, within areas of responsibility. Experience: Qualified actuary with some post-qualified experience. Must possess experience in relation to the management of the matching adjustment, from either a 1st line or 2nd line perspective. Familiarity with the UK regulatory environment and specific solvency regime, as it relates to bulk annuity business. Ideally have experience working within an independent challenge function, e.g. a 2nd line Risk Function, consulting role or audit. Knowledge: Excellent knowledge of matching adjustment regulatory requirements and developments. Good knowledge of UK bulk annuities and illiquid assets. Good knowledge of legal, regulatory and industry requirements. Good knowledge of the Solvency II balance sheet (and associated elements, e.g. matching adjustment) and/or IFRS 17. Some familiarity with the SMF20 ('Chief Actuary') responsibilities. Some familiarity with relevant business processes, standards, policies and procedures; and the relevant legal, regulatory and industry requirements. Skills: Willing and able to develop a strong technical understanding of the complex methodology, processes and regulatory requirements with respect to the management of the matching adjustment. Good written and oral communication skills, with ability to communicate complex actuarial information to senior management, their direct reports and a range of external parties. Must be able to, or develop skills required to provide robust and credible opinions, with limited oversight. Must be able to manage self and others and communicate effectively with other areas of the business. Ability to distil information and apply judgement. Must be able to build internal and external relationships to maintain an understanding of developing practices across the market. Desirable personal attributes aligned to what success looks like in the role: Intellectually curious with a willingness to learn through own research. Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function. Effective communicator - structures insights into clear messages and effectively engages others within the business function, as well as internal stakeholders, professional and regulatory bodies. Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance. In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.