Investment Analyst at PIC – London, England, United Kingdom
Job Description
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.
PIC is recruiting for an Investment Analyst; the role sits within our Capital Insight & Actuarial team and requires the ability to collaborate with the Investments and Risk teams to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate. As Investment Analyst, you will apply your knowledge and insights concerning the analysis, management and treatment of Matching Adjustment assets in an MA portfolio and how this impacts our policyholders.
Specific accountabilities assigned to the role of Investment Analyst within Capital Insight & Actuarial:
- 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.
- Support 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.
- Prepare 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 with subject matter experts within the Finance teams and also across the business, in particular with Investments and Risk colleagues.
- 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.
- Liaise with the Reporting and Forecasting teams to provide timely information and impacts of trades, new assets, hedging, and other risk management activities.
Requirements
Experience:
- Most likely a qualified actuary, CFA charterholder or FRM
- Experience in developing relationships across multiple, different discipline teams
- Experience of conducting financial / data analysis and reporting on that work
- Most likely to have an ALM/structuring/asset- or investment-consulting background
- Experience of interacting with or responding to requests from the prudential regulator
Knowledge:
- Good technical knowledge of the UK Solvency regime, particularly the Matching Adjustment
- Established knowledge of [actuarial] modelling and analysis techniques, as applied to UK life insurers
- Familiar with regulatory developments on the UK solvency regime, and how this applies to UK life insurance investments.
Skills:
- Strong organisational skills
- Strong communication skills, including drafting papers and opinions
- Ability to succinctly articulate key points from financial / data analysis to a range of audiences
- Ability to organize work to meet deadlines
- Good working knowledge of MS Excel, MS PowerPoint, MS Word; programming languages desirable
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 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.
