Standard Life plc
Technical Actuary
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Job Description
We are seeking a Technical Actuary to join our team and play a key role in delivering high-quality actuarial support across our portfolio of Bulk Purchase Annuity (BPA) schemes.
Job Type: Permanent
Location: This role could be based from our London, Edinburgh, Telford, or Birmingham office with time spent working from home and from the office.
Flexible working: All our roles are open to part-time, job-share, and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about flexible working here.
Salary and benefits: From £56,200 depending on experience plus discretionary bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days, and much more.
Who are we?
We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.
Life today is increasingly complicated, uncertain, and unpredictable. People move through different careers, face unexpected moments, and navigate important choices. We offer our colleagues flexibility, trust, and benefits that work for whatever life brings. In return, we expect curiosity, connection, accountability, and high standards. We make room for what matters - so you can bring your best, every day.
About The Role
We are seeking a Technical Actuary to join our team and play a key role in delivering high-quality actuarial support across our portfolio of Bulk Purchase Annuity (BPA) schemes. This role involves close collaboration with both internal teams and external stakeholders to ensure the accurate and efficient delivery of member options throughout the end-to-end journey, from initial contract reviews through to buy-out.
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You will use your technical expertise to support the development, review, and enhancement of actuarial calculations, processes, and models, ensuring robust governance and a consistently strong member experience.
Key Responsibilities
- Collaborate with external stakeholders (including scheme advisers, trustees, and outsourced partners) and internal teams (such as Pricing, Transition, and Data Services) to support a consistent and aligned member option journey for all schemes.
- Ensure member options and benefits are determined in line with transaction benefit specifications, seeking opportunities to enhance efficiency, accuracy, and the overall member experience.
- Provide subject matter expertise on actuarial topics such as GMP Equalisation and their impact on member options.
- Review actuarial calculations completed by administrators, including transfer value calculations and retirement projections.
- Develop and maintain clear, well-structured documentation for actuarial processes, identifying improvements where appropriate.
- Ensure all work produced has appropriate governance, including audit trails and version control.
- Provide technical actuarial oversight on exercises such as PIE, ETV, and Level Pension Options.
- Implement and review factor assumptions across the BPA scheme portfolio.
- Build and maintain cash flow projection models aligned to transaction benefit specifications.
- Monitor legislative and market developments that may affect actuarial aspects of the proposition.
- Provide actuarial expertise to ongoing projects and manage actuarial workstreams as required.
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Essential Skills & Experience
- Qualified Actuary with strong experience post-qualification, specializing in pensions.
- Strong technical understanding of Defined Benefit pensions legislation.
- Extensive experience reviewing member calculations, including GMP Equalisation, CETV, and retirement quotations.
- Experience setting factor bases and generating actuarial factors.
- Experience building models for factor generation and cash flow projections.
- Strong communication skills with the ability to engage effectively with internal stakeholders.
- Ability to explain complex actuarial concepts clearly to both technical and non-technical audiences.
- Commitment to maintaining professional knowledge in a fast-changing regulatory environment.
We Want To Hire The Whole Version Of You.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
Find out more about working at Standard Life
Guide for Candidates: standardlifeplc.pagetiger.com/guideforcandidates
Find or get answers from our colleagues: www.standardlifeplc.com/careers/talk-to-us
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