Pension Insurance Corporation (“PIC”)

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.

About the Role

At PIC, we are recruiting for an Investments Business Partnering Actuary to join our Business Partnering team within our Finance department. This role provides actuarial insight and analysis to support the effective management of PIC's Matching Adjustment portfolio and capital position. Working closely with colleagues across Finance, Investments, and Risk, you will assess asset eligibility, support the evaluation of new investment opportunities by analysing their Matching Adjustment, capital, and regulatory implications, and provide clear recommendations to senior stakeholders. The role offers the opportunity to influence key business decisions, contribute to regulatory compliance, and support the ongoing optimisation of PIC's balance sheet.

Specific Accountabilities

• Conducts thorough assessment of the Matching Adjustment eligibility of assets and articulates and documents the outcomes to ensure PIC’s adherence to the applicable regulations and PIC’s Matching Adjustment permissions.
• Supports new asset opportunities ensuring that the risks are fully understood.
• Responsible for the successful delivery of analysis of, and recommendations for, any additional Fundamental Spread, under the new Solvency regime.
• Prepares appropriate reports, reflective of the intended audience, that demonstrate sound analysis and recommendations on the above topics to support Capital Resources Committee (which oversees the management of PIC’s Matching Adjustment Fund) and the CFO in discharging their responsibilities.
• Effectively collaborates as an asset eligibility subject matter expert within the Finance team across the business, in particular with Investments and Risk colleagues and also with other finance teams e.g. Reporting and Forecasting, to provide timely support, information, and impacts of trades, new assets, hedging, and other risk management activities.
• Supports other areas of Investment Business Partnering on topics such as validation of impacts of asset and liability transfers into and out of the MA fund, production and review of Hedge Effectiveness MI, and production and analysis of strategic liquidity metrics.
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of the wider Finance department.
• Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to actuarial techniques and the wider pension risk transfer market by attending industry seminars, reading, and sharing relevant published articles.