Head of Life BPA and Reinsurance

Head of Life BPA & Reinsurance (Life Actuarial)

Birmingham (Wythall)

Salary: £82,871-£103,589 + Bonus & Benefits

Job reference: 3700

Working pattern: Permanent

About the role

Phoenix Group has successfully established itself as a highly credible player in the Bulk Purchase Annuity (BPA) market in recent years. During 2019, Phoenix completed BPA buy-in transactions in excess of £2.2bn, including buy-ins with the Marks & Spencers and Aegon UK staff pensions schemes. Central to our competitiveness in this market, is the ability to quickly and successfully on-board BPA business into our Life Company business, reinsure longevity risk, and effectively manage and administer the business acquired over the long term.

An exciting opportunity has arisen within Life Actuarial at a pivotal time for Phoenix, to lead and manage the implementation of our BPA on-boarding and reinsurance strategy. This is a high profile role of significant importance to the success of the Phoenix Groups business strategy going forward.

We are looking for an individual with a unique and diverse range of skills who can: successfully lead a small team of professionals to deliver against tight deadlines; further develop our BPA and Reinsurance Target Operating Model to support our ambitions; successfully on-board new BPA deals into the Phoenix Life Companies; manage relationships with key stakeholders such as client pension scheme trustees, our outsource service provider partners, and our reinsurance partners; support our Group BPA team in new business pitches; and be comfortable presenting proposals at a senior level, including the Life Company and Group Board Committees where required.

Key Responsibilities

To provide leadership of the Life company BPA and Reinsurance team

To further develop and implement our BPA on-boarding Target Operating Model

To oversee the development and implementation of the reinsurance Target Operating Model

To implement Life company on-boarding of new BPA deals, including the arrangement of suitable reinsurance, as required

To monitor the shareholder return on BPA deals against target / expectations

To lead, oversee and maintain reinsurance strategy and relationship management

To support the Head of BPA (Group Actuarial) at pitches to secure new BPA deals and at trustee meetings

Essential

A strong overall understanding of the life and pensions business is essential, and preferably, an understanding of bulk purchase annuity and reinsurance markets

A strong track record in external stakeholder management, ideally with scheme trustees, reinsurers, and outsourced service providers.

A skilled communicator

Ability to influence senior stakeholders

Ability to apply strategic thinking and strong leadership skills

Strong commercial skills

Line management experience

About us

Join the Phoenix Group, and you join a unique organisation. Its not just the 10 million policyholders we serve, or the £240 billion of assets we look after. Or that weve been listed as one of the UK's Top Employers for seven years running. Its the fact we manage predominantly closed life funds in our Heritage business. This means we can focus our innovative thinking and energy into improving outcomes for our existing customers and their customer experience.

But thats not all. We also have an Open business which manufactures and underwrites new products and policies to support people saving for their future in areas such as workplace pensions and SIPPs. We also market corporate pension trustee services and manufacture products to be sold under other brands. Did you know Phoenix Life manufactures SunLifes market leading Guaranteed Over 50s plan?

Having acquired Standard Life Assurance Limited in 2018, Phoenix is now the largest consolidator of heritage life insurance funds in Europe with a vision to be Europe's Leading Life Consolidator

Interested?

Please use the APPLY button to be redirected to our careers site where you can complete your application online. 

N.B. When on the Phoenix Careers site, first time visitors will be asked to register before applying.

Closing date: 03 March 2020 at midnight