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Senior BPA Implementation Operations Manager

Senior BPA Implementation Operations Manager

The Actuary GroupMacclesfield, England, United Kingdom
30+ days ago
Job description

The Actuary Group is currently looking for a Senior BPA Implementation Operations Manager to join a new and growing Bulk Annuities team that is part of the UK’s largest mutual insurer.

In this role you will oversee, and support activities associated with the implementation and ongoing administration of Bulk Purchase Annuity (BPA) business. You will cover a range of one-off and ongoing management activities from implementation through buy-in and transition to buy-out.

This is an exciting time to join the company. Bulk annuities are a key area of growth, and you will have the opportunity to be instrumental in shaping the team early on whilst working with a range of talented colleagues. Our client believes that they are ideally placed to be a partner of choice for trustees of defined benefit schemes, helping to build financial resilience.

About the role

The role holder will be responsible for the day-to-day management of the following activities :

  • Pre-execution data and operational complexity due diligence.
  • Scheme onboarding.
  • Scheme trustee and administrator management.
  • Shadow administration (including buy-in payroll, member option validation and movement processing).
  • Data flow and control.
  • Data cleanse and true-up.
  • Transition to buy-out (including policyholder communication and admin and payroll transition).
  • Ongoing reporting (including production and review of management information and valuation extracts).

About you

  • Experience in BPAs preferable, with an understanding of defined benefit pensions administration.
  • Experience with reviewing contracts, with the ability to extract relevant information to plan for key milestones.
  • Understanding of reinsurance is desirable.
  • Comfortable with and good understanding of actuarial spreadsheet models.
  • Appreciation of operational challenges that can arise from data migration and ongoing management.
  • Understanding of the defined benefit pension market, if not direct work experience.
  • Comfortable checking calculation proforma inputs and sense checking outputs.
  • Relevant qualifications desirable (e.g. APMI). Our client will support the undertaking of professional training where appropriate.
  • Credible individual, with a financial background
  • Experience with managing senior stakeholders.

    • About the company

    Our client is the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

    Their People Promise to their colleagues is that they will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by the company’s values; Empowered, Trustworthy, Collaborate, Achieve.

    Our client has always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.

    Inclusion, diversity and belonging

    Our client is an Inclusive employer. They celebrate and value different backgrounds and cultures. Their diverse people and perspectives give them a range of skills which are recognised and respected.