Pension Risk Manager

Royal Bank of Scotland (RBS)

  • Contact: Human Resources
  • Reference: 91683

Join us as a Pension Risk Manager in Edinburgh

  • In this high profile role, you'll join a specialist team within Risk and focus on the pivotal Pension Risk management of our defined benefit pension schemes
  • You'll utilise a deep understanding and experience of pension scheme valuation, funding and risk in order to support the Head of Pension Risk in understanding, overseeing, challenging and enforcing appropriate risk mitigation techniques
  • This is an opportunity to develop your pension skill-set and build your network across the bank

What you'll do

As a Pension Risk Manager, you'll work in partnership with other members within the Pension Risk team, and have responsibility for assessing, analysing and reporting Pension Risk for internal and regulatory purposes. You'll also be maintaining, developing, documenting and monitoring the bank’s processes and controls for managing Pension Risk, as well as providing input to communicating to stakeholders the bank’s Pension Risk appetite.

You'll be involved in reviewing and analysing the calculations then providing analysis, commentary and explanation to stakeholders in relation to Pension Risk Pillar 2A ICAAP, Pension Risk capital buffer and Pension Risk elements of deterministic stress tests.

On top of this, you'll also be:

  • Working with the providers of the bank’s Pension Risk model to ensure accurate and timely delivery
  • Providing input to Pension Risk reports, including the quarterly reports to the bank’s pension task force and to the board
  • Supporting the Head of Pension Risk in respect of materials presented and issues discussed at the pension committee
  • Supporting the maintenance of the Pension Risk Management framework, including proposals for risk appetite and policy documentation
  • Working with other legal entities and specialists around the bank who're involved in strategic initiatives in respect of our defined benefits pension schemes

The skills you'll need

To succeed in this role, you'll need a high degree of pensions experience including UK pension scheme valuation, funding and risk, along with strong risk and capital experience.

We'll also look to you to bring:

  • An actuarial or Pension Risk background and excellent technical skills
  • Experience of working within the UK pension framework, including the interaction between trustees and pension scheme sponsors
  • Strong written and verbal communication skills
  • Extensive analytical ability with Pension Risk management tools and techniques
  • Excellent collaborative skills, and the ability to build and maintain strong working relationships
  • The ability to work autonomously, able to prioritise your own workload and ability to proactively delegate effectively

How we'll reward you

In return, we offer a competitive salary and you'll also join our retirement savings plan. You can also choose from a selection of protection, healthcare or lifestyle extras from RBSelect, our fully flexible reward programme.

Visit our for more information on the benefit packages we offer.


At RBS, we want everyone to feel welcome, regardless of your background or needs. If you need adjustments making to your working environment, we’ll do everything we can to support you. As part of this commitment, we offer flexible working options for some of our roles - .

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