We are recruiting a for a newly created senior Actuary role within our Funding Strategy and Covenant team.
BTPS is the largest private-sector pension scheme in the UK and one of the largest pension funds in Europe. BTPS is a mature scheme with c.300,000 members and over £57.5bn of assets, paying out over £2bn in pension payments every year. We have a long history of being a responsible and engaged investor and have set ambitious plans to be Net Zero across our entire portfolio by 2035.
The Funding Strategy and Covenant team maintains and oversees the Scheme's integrated approach to risk management across funding, covenant and investment strategy providing leadership and support to BTPS across each of these areas. The team also oversees the preparation and maintenance of liability valuations that support BTPS's in house risk management systems including liability data for the LDI team.The Role
This role will support Head of Funding Strategy to monitor progress towards the long-term funding and investment objectives of the Scheme including longevity risk and where appropriate recommend changes.
- Monitoring progress towards the long-term funding and investment objectives of the Scheme
- Supporting Head of Funding Strategy in funding discussions with BT
- Supporting and maintaining the Scheme's integrated approach to risk management including co-ordinating advisers as necessary
- Monitoring the longevity and buy-in markets for opportunities to efficiently increase the scheme's longevity hedge
- Ongoing contact with market participants with regards pricing and opportunities
- Supporting governance oversight of the Scheme's existing longevity hedge
- Actively supporting provision of actuarial leadership and advice across BTPS
- Providing guidance and acting as a sounding board on actuarial matters across all relevant areas of BTPS
- Overseeing the services provided to BTPS by actuarial service providers
- Supporting Head of Funding Strategy and senior BTPS team in horizon scanning, exploring and developing future strategic initiatives that might support the Scheme's delivery of funding strategy
- Providing input to the content and structure of the Asset Management Parameters (AMP)
- Supporting the broader investment team as appropriate to consider strategic developments to enhance the Scheme's investment strategy
- Supporting reporting to the Trustee and Senior Management on developments in Scheme's financial position, integrating funding and covenant risks.
- Qualified Actuary (Institute and Faculty of Actuaries).
- 5+ years post qualification experience in pensions and investment.
- Capable of leading projects to successful conclusion
- Strong technical and communication skills.
- Capable of explaining difficult/technical concepts clearly to the wider team.