Trainee Pricing Analyst

We're looking for a recent graduate in a maths-related field OR someone currently studying towards their FIA qualification to join our clients growing BPA Pricing team.

In this role, you will contribute to the development, maintenance, and implementation of pricing models for annuity business, including bulk annuities. You will assist in analysing policyholder data, conducting experience investigations, and supporting valuation processes. The ideal candidate will be highly analytical, with the ability to work collaboratively across departments to help achieve business objectives and ensure alignment with regulatory requirements such as Solvency II, UK GAAP, and IFRS17.

Key Responsibilities:

Pricing Model Development & Maintenance:

• Support the creation, refinement, and maintenance of scalable pricing models for annuity products, including bulk annuities.
• Ensure models comply with risk tolerance levels and are adaptable for future business growth.

Policyholder Data Preparation & Analysis:

• Assist in preparing and analysing policyholder data, applying assumptions and methodologies to address gaps or missing information.
• Ensure data integrity and accuracy to support the pricing process.

Experience Investigations:

• Conduct experience investigations for key factors that impact pricing assumptions (e.g., mortality, expenses, persistency).
• Provide insight and recommendations for adjusting assumptions based on findings.

Valuation Support:

• Support the valuation process, including reporting for Solvency II, UK GAAP, and IFRS17 frameworks.
• Ensure valuations are compliant with regulatory requirements and reflect the business's financial health accurately.

Cross-Team Collaboration & Change Facilitation:

• Work collaboratively within the team and across departments to implement recommendations and support necessary changes aligned with business needs.
• Provide guidance and assistance to colleagues to achieve shared goals.

Ad-Hoc Tasks

About you:

• You will be highly numerate, with a degree in Mathematics or other Maths based subject.
• You will possess good communication skills, with the ability to propose solutions and be able to work independently requesting support where needed. Along with the ability to handle multiple tasks simultaneously seeking support where appropriate for prioritisation.
• It is crucial you can work towards strict deadlines and you are able to manage your own time.
• It would be desirable but not essential to have a solid knowledge of UK Defined Benefit Pensions and reinsurance structures, as well as a strong understanding of actuarial concepts related to annuity pricing and valuation.

What you will receive:

• Salary up to £35,000 per annum (dependent on experience/exams).
• Discretionary bonus.
• 23 days annual leave plus bank holidays.
• Life Assurance: 4x basic annual salary.
• Pension contributions:
• Employee: 2-5%+
• Employer: 7-10% max.
• Study support available for actuarial qualifications.
• Additional company benefits.