Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.
At PIC, we have a unique opportunity for a leader to join our Capital Insight & Actuarial department as Head of MA and Investment Business Partnering. An effective communicator, an innovative thinker with intellectual curiosity and a strong problem-solver, you will collaborate effectively with PIC's Investments and Risk functions, as well as wider Finance functions, to ensure that PIC operates the MA fund in line with its MA permissions and PRA regulatory requirements, using insights and analysis to challenge and support investment decisions, in particular on hedging and liquidity.
Your specific accountabilities will include:
- Own the process for submitting MA applications to the PRA with a view to having applications with a regular cadence
- This includes ownership of meetings and drafting correspondence with the regulator on all MA related topics and taking applications through appropriate PIC governance
- Ensuring that PIC operates the MA fund in line with its MA permissions and PRA regulatory requirements. This includes validation of new investment trades, production of monthly Test 3 results, calculation and monitoring of the PRA matching tests and owner of the MA fund management policy and custodian of the MA approach documentation
- Ownership of the MA attestation policy, as well as processes and production of the [annual] attestation report for the CFO
- Provide investment business partnering support for Finance. In addition to the MA responsibilities outlined above, this includes:
- Support to the Chief Actuary and CFO in reviewing liquidity and hedging proposals
- Lead on relevant industry consultations or impact assessments
- Review of investment committee papers (attend IC/Equity IC)
- Coordinate and be the lead team for the Capital Resources Committee
- Coordinate responses to PRA and ABI on proposed changes to regulations
- Lead a team of actuarial and other finance professionals
- Keep informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to the role
