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Actuary – DB Pensions
Hybrid Working
Financial Services
Lorien's leading Pensions and Investment client is looking for an experienced Actuary with strong expertise across pensions, life insurance and/or longevity reinsurance to support complex reinsurance administration, reconciliation and actuarial modelling activities.
The successful candidate will combine strong actuarial and commercial knowledge with hands-on experience of DB pension schemes, cashflow modelling and pension de-risking solutions. The role will also work closely with Technology and Data teams to enhance reinsurance systems, data processes and controls.
The Ideal candidate has strong hands-on experience working with DB Pension Schemes, and Cash Flow Modelling.
This role is working in a Hybrid Model of 2 days a week at a local site.
This role will be Via Umbrella.
Key Responsibilities
- Complete detailed reinsurance reconciliations, ensuring administration aligns with underlying treaty terms.
- Reconcile inception data, claims and premium projections, movements and lump-sum settlements.
- Assess and implement reconciliation impacts on collateral calculations and produce clear management reporting.
- Design and maintain sophisticated Excel cashflow models covering premiums, claims, lump sums and collateral valuations.
- Ensure historic actuarial basis reviews have been implemented accurately.
- Act as a key escalation point for dispute resolution, investigating issues and facilitating timely outcomes.
- Establish robust modelling processes, documentation, audit trails and version controls to support governance and risk management.
- Work with Technology, Data and Architecture teams to design and develop centralised reinsurance treaty administration capabilities.
- Configure, test and validate reinsurance arrangements, including calculations, cashflows, collateral mechanics and contractual benefits.
- Develop and test end-to-end data feeds, ensuring data accuracy, completeness and auditability.
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Experience & Skills
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- 5+ years' experience within pensions, life insurance and/or longevity reinsurance.
- Extensive experience completing reinsurance reconciliations.
- In-depth knowledge of Defined Benefit (DB) pension schemes and interpretation of scheme rules.
- Strong knowledge of benefit calculations including GMP, revaluation, increases in payment and early/late retirement adjustments.
- Strong experience building actuarial cashflow projection models in Excel.
- Good understanding of reinsurance treaties, premiums, claims and collateral calculations.
- Strong analytical, reconciliation and problem-solving capability.
- Ability to communicate complex actuarial issues clearly to both technical and non-technical stakeholders.
- Experience working with Technology/Data teams on systems, data feeds, testing or reinsurance administration solutions.
- Commercial knowledge of pension de-risking products, including bulk annuities and longevity swaps, is highly desirable.
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