DB Reinsurance Analyst

Job title:

DB Reinsurance Analyst

Company

Just

Job description

At Just we encourage a flexible and agile working environment for the majority of our opportunities. Get in touch with us to discuss in more detail.Who are Just?We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.Purpose
Develop Just’s reinsurance capabilities for the Defined Benefit (DB) business. Work across the DB team to analyse reinsurance pricing and implement reinsurance terms from multiple counterparties into the DB Pricing framework and to optimise use of reinsurance from an operational and commercial perspective.Job Role Accountabilities

• Support delivery of key reinsurance developments projects to enhance Just’s reinsurance capabilities
• Support the embedding of new reinsurance counterparties into BAU pricing
• Work closely with the DB Pricing leads to ensure reinsurance terms are appropriately allowed for in pricing metrics
• Work with wider DB Reinsurance team to support efficient execution of new reinsurance contracts.
• Support with key development projects, proactively driving them forward to ensure they are progressed in line with expected timescales
• Develop a deep technical and operational knowledge of all systems and tools used in DB. Continuously look for areas where we can improve – our people have a proactive approach to integrating technology into daily tasks and processes in order to drive innovation and efficiency
• Be curious, proactive and open to new ideas – applicants should demonstrate a track record of adapting to change, embracing technology, learning from experience, and showing resilience in the face of obstacles.
• Prepare written reports for internal committees
• Carry out detailed pricing analyses to develop deep understanding different reinsurers’ bases
• Work closely with reinsurance counterparties on all pricing and actuarial aspects
• Develop strong technical skills, for example by learning new coding languages, in order to support the development of models, tools and processes in the team.
• Work collaboratively with colleagues in Finance and Reporting and the DB Data and Integration and DB Operations team to ensure that commercial changes flow through effectively to the wider DB ecosystem – such that operational changes are communicated and made when necessary and in a timely fashion.
• Proactively look to improve processes and efficiencies within the DB Reinsurance Development team
• Proactively work to promote a culture of collaboration and engagement within the DB Pricing team

Examples of Key Activities

• Analysing live pricing received from reinsurers and calculate relevant pricing metrics under various reinsurance scenarios to support key pricing decisions.
• Ensure reinsurance terms are accurately built into pricing models
• Analysing pricing and operational impact of new reinsurance terms, including assessment of relevant risks. Presenting this analysis to internal committees via written reports to support approval of new counterparties/transactions.
• Prepare and present pricing feedback to reinsurers to strengthen relationships and help improve reinsurer pricing
• Work closely with reinsurers to support cashflow reconciliation and mutual understanding of terms
• Work closely with internal and external stakeholders on contract negotiations for new reinsurance deals
• Support development of pricing database comparing pricing and terms received from multiple reinsurers
• Support the accurate and timely delivery of collateral calculations
• Check and review work carried out by other team members

Skills and Knowledge

• Problem analysis and resolution skills.
• Strong numeracy skills
• Capable of working collaboratively
• Strong IT skills including Excel and programming languages, and a keen attitude to learn where these skills don’t exist
• Non-excel coding experience is very desirable, for example Julia, Python and/or VBA.
• implications/Excellent verbal, written communication, and interpersonal skills.
• Open minded and willing to engage in challenge.
• Basic knowledge of the DB de-risking market and pricing of bulk annuity liabilities.

Experience
Experience in an actuarial role, in the Life Insurance or DB pensions space
Experience in bulk annuity pricing and/or reinsurance pricing is desirable
Coding experience is desirable, for example Julia, Python and/or VBA.Why Just?We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly – each other.About UsWe’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly.How people work, save, and plan for the future is all changing. A new generation of retirees needs a new kind of retirement company. A company who will look for new ways of doing things – and will always put the customer first.That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement. And with you on our team, we’re going to make sure they get it.We’ve built our sustainability strategy around the United Nations Sustainable Development Goals (SDG) and have selected goals where we believe we can make the most difference. By aligning our activity with these global goals, we can make sure we play our part in addressing the wider issues facing the planet and leave a positive legacy to the world. You can read more about our sustainability strategy .Diversity, equity and inclusion are priorities for us. Having a diverse, talented workforce with colleagues of different backgrounds, world views and experiences is the right thing to do. It’s also the most effective way to succeed, innovate and better serve our customers now and in the future. We are committed to our targets on gender and ethnicity and run a number of successful mentoring and sponsorship programmes for our colleagues from diverse backgrounds. We have multiple active employee network groups which champion issues including gender, ethnicity, sexual orientation, disability and neurodiversity. You can read more about our DE&I strategy and commitments .What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly – each other. We look forward to welcoming you to the team soon.

Expected salary

Location

London

Job date

Wed, 02 Oct 2024 23:46:13 GMT

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