- Sector: Financial Services and Investment
- Specialism: Actuarial
- Location: Edinburgh
- Hours: Full Time
- Contact: Human Resources
- Reference: 000664
About the Business Area/Department
Our actuaries work closely with trustees and plan sponsors to devise a funding plan suited to each scheme. The Edinburgh office provides actuarial and consultancy advice to a range of trustee and corporate clients and is part of a larger actuarial community across our other UK office locations. We use plain English believing that clarity is as important as accuracy in the delivery of actuarial advice.
Main duties and responsibilities
To provide high quality pensions actuarial and consultancy support to the actuarial consulting team. Working closely with all members of their assigned actuarial team to ensure effective and timely provision of actuarial consultancy services to the pension schemes of our clients. In addition, assisting with complex pensions administration activities requiring actuarial input.
You will be involved in a wide range of actuarial and consulting tasks including:
- Assisting with triennial actuarial valuations and funding updates including;
- Preparing, manipulating and validating membership data for input onto the actuarial valuation system ‘PFaroe'.
- Performing basic and more complex calculations.
- Drafting of valuation reports and other valuation communications.
- Calculating member benefits and transfer values for individuals.
- Performing calculations for company accounting work in accordance with FRS102, FAS87 and IAS19 accounting standards and preparation of accounting disclosures.
- Carrying out other actuarial calculations as required e.g. calculating actuarial factors.
- Participating in work related to other legislative requirements and general pensions consultancy.
- Drafting emails and letters, both based on standard and non-standard templates.
- Compiling and drafting client bills.
- Contributing to technical sub-committees (TSC) e.g. handling technical queries, drafting summaries for colleagues of relevant developments.
- Ensuring the accurate updating of time recording system for both chargeable and non-chargeable activities and meeting required utilisation targets.
Due to the changing nature of the business, the job holder may from time to time be required to undertake other activities of a similar nature that fall within their capabilities.
- An actuarial track record preferably gained within the pensions actuarial industry is preferred. The individual should be able to demonstrate a broad understanding of the various key areas of pensions actuarial work including scheme valuations and company accounting work. Experience of calculations, project work and drafting client correspondence is essential. (This role is likely to appeal to individuals with 1-3 years' experience).
- Strong IT skills competent in the use of Microsoft Office applications, in particular advanced knowledge of Microsoft Excel.
- Working towards FIA/FFA qualification.
Skills, abilities & personal qualities
In addition to the necessary academic achievements, the incumbent should be able to demonstrate the following key attributes:
- An ability to work as part of a multi-disciplinary team, as our actuarial students work closely with both our pensions administration and support teams.
- Positive personal impact qualities such as leadership, influencing and motivating skills.
- An aptitude for working with people both internal and external of the organisation.
- Excellent interpersonal abilities, able to forge strong working relationships with colleagues and clients.
- A client focused approach with regards to work.
- A high degree of professional integrity.
- Confident communicator, able to communicate effectively, professionally and concisely in writing, face to face and over the telephone. Able to construct professional correspondence in appropriate terminology for the potential audience. In addition, able to explain their work to both their peer group and manager in a clear and logical manner.
- Able to take ownership and responsibility for own work.
- An eagerness to take on responsibility.
- Able to demonstrate a positive, helpful and enthusiastic approach to work, in particular taking responsibility for personal and technical continuous professional development.
- Able to listen and follow instructions, procedures and assimilate information quickly in a consistent and accurate manner.
- An ability to manage conflicting demands on one's time and able to work to tight deadlines in order to meet client and legal obligations as well as successfully studying to achieve actuarial examinations.
- Well-developed analytical and problem solving skills.
- Meticulous attention to detail is required in order to perform many elements of the role.
- A committed approach to professional development is required, as the balance of study/work and life requires a high degree of self-motivation.