Pricing Lead

Key Responsibilities

As a key member of the Bulk Purchase Annuity (BPA) Pricing team, the Head of Pricing will play a central role in driving the delivery of accurate, insightful, and commercially sound pricing strategies.

Responsibilities include:

• Lead and oversee the preparation and analysis of Defined Benefit (DB) pension scheme data for pricing purposes, ensuring appropriate methodologies and assumptions are applied to address data gaps.
• Review and validate the modelling of DB pension scheme cashflows using actuarial and valuation systems, ensuring accuracy and compliance with internal and regulatory standards.
• Mentor, develop, and support junior team members, fostering a high-performing and collaborative team culture.
• Lead experience investigations to analyse factors influencing pricing assumptions, ensuring that the latest insights are reflected in the pricing basis.
• Drive the delivery of BPA pricing in alignment with Solvency II, UK GAAP, and IFRS17 frameworks.
• Support senior stakeholders by providing expert input on the enhancement, governance, and implementation of pricing models and methodologies.
• Contribute to continuous improvement initiatives, identifying opportunities to refine processes and enhance pricing capability.
• Ensure full compliance with FCA Conduct and Consumer Duty rules, as well as PRA Senior Manager Conduct Standards.

Mandatory:

• 3 or 4 years of experience of working in DB pensions at an Employee Benefit Consultancy (EBC) or in the BPA team at an insurer / reinsurer.

• Newly qualified Actuary or nearly qualified with relevant experience either continuing exams or stopped.

• Experience of DB pension modelling.

Desirable:

• Experienced in insurance BPA cashflow modelling and pricing or experience of pension scheme buy-outs in a risk transfer team at an EBC.

• Experience of Mantle systems.