Bulk Purchase Annuities Quotation Manager
Bulk Purchase Annuities has been identified as a key area for business growth for Aviva UK Life. The ambition is to grow this key business area significantly over the next 3 years, from c£620m in 2016 to c£3bn of premium in 2020. To achieve this, the team needs to increase its quotation and pricing capabilities.This role creates the opportunity for someone to join a growing team at an exciting time, as we shape our proposition and re-design how we work to support our ambition. The primary focus of the role will be to manage the production of timely and accurate bulk annuity quotations that exceed client expectations. The successful candidate will also work alongside Deal Managers on large deals of up to £1bn, and develop long term relationships with employers, trustees and advisers of Defined Benefit Pension Schemes, with a view to building a pipeline of de-risking opportunities.The ideal candidate will have relevant actuarial, consultancy or technical defined benefit pensions experience, as well as an ability to ‘step back’ and take a commercial view of bulk annuity deals.Duties & Responsibilities
- Provide scheme opportunities to meet new business targets, by managing the quotation process with the client on small/standard schemes, and working alongside the Deal Manager on larger/more complex deals.
- Manage a small team of analysts, ensuring they receive the necessary feedback, training and development opportunities, and support communication to the wider team.
- Sign off that bulk annuity quotations are calculated accurately, in line with the pricing basis and Aviva governance processes, and are issued before agreed deadlines.
- Manage and prioritise the flow of schemes through the quotation process.
- Support the on-going relationships resulting from existing deals as required.
- Ensure that Treating Customers Fairly and relevant legislative requirements are built into the system, and that all decisions result in fair customer outcomes. Skills & Experience required
- Newly/nearly qualified actuary or equivalent actuarial/technical experience.
- In depth knowledge of UK defined benefit pensions and legislation.
- A commercial understanding of the bulk annuity market or a strong ability to develop it within the role.
- Experience of high level checking/reviewing model outputs and the work of analysts, and an ability to apply actuarial judgement as appropriate.
- Experience of mentoring or managing junior staff, providing coaching and feedback to help develop others.
- Some experience of modelling or pricing bulk annuity products would be an advantage but is not essential.
- Knowledge of Aviva products and their application in the market place.
- Ability to communicate clearly and develop professional relationships with internal and external customers.
- Understand the needs of end customers and be conversant with the FCA’s Principles relating to TCF outcomes.