Actuarial Modeller
The Pensions Regulator
2d ago


We’re looking for a qualified or part-qualified actuary, to be responsible for the provision of specialist actuarial and other financial modelling.

Primarily the role entails :

  • responsibility and ownership for the running, maintenance and updating of ongoing actuarial models. The key actuarial models are : the defined benefit (DB) scheme funding universe models financial market model analysis for the DB Annual Funding Statement risk assessment of DB valuations model time recording model
  • provide modelling support to the actuarial team with other ad-hoc modelling projects
  • You will :

  • take overall responsibility for the design, maintenance, process and outputs associated with actuarial and other financial models, including : data governance of data from various sources into the modelling process and management of actuarial data management and update of actuarial models including compliance with professional requirements regarding the uses and limitations of the output so that users can rely on the quality and accuracy of the results liability and asset value calculations and projections review assumptions and actuarial methodology maintain up-to-date process and control documentation and operate other controls required to maintain professional requirements and quality assurance identify shortcomings and provide solutions which mitigate risks of shortcomings in data and software delivery of actuarial reports advising on and highlighting model risk and proposing solutions to mitigate and manage such risk
  • support the actuarial modelling team, other teams and practices across TPR in respect of technical actuarial queries, actuarial assumptions, modelling solutions and IT system issues
  • research key areas of emerging risk (both short and long term), and provide advice in relation to the scale of the issues (including use of modelling) and provide recommendations for mitigations and next steps
  • prioritise tasks across multiple workstreams
  • Essential and desirable criteria


  • Associate of the Institute and Faculty of Actuaries, typically with at least five years’ experience in total, or ability to demonstrate significant relevant pensions and modelling experience showing strength, breadth and depth of knowledge.
  • Comprehensive knowledge of financial markets, interest rates, discount rate methodologies, inflation assumptions (RPI and CPI), mortality, hedging strategies, statistical and mathematical theories and the practical approaches for application in UK DB pension scheme funding, funding methodologies and strategies that affect DB schemes’ funding.
  • Experience of managing projects requiring the need to take a proactive approach and to prioritise competing requests upon their own time, plan, organise, coordinate on behalf of the customer and to direct the overall project and delivery of outputs to time and to the needs of the customer.
  • Proven experience of reviewing, managing and applying appropriate governance standards over large actuarial data sets, including pension scheme liabilities as calculated on different funding measures, membership data, benefit structures, cash flow information, recovery plan information, deficit repair contributions, financial information including gilt yields, corporate bond yields, equity markets, property, insured benefits and other key financial market data.
  • Excellent Microsoft Excel skills including VBA programming and ability to learn new IT software and the learn how to program new software for the application of actuarial modelling.
  • Desirable

  • In-depth knowledge of the actuarial responsibilities as issued by the relevant professional bodies associated with the modelling of DB pension schemes and other financial markets.
  • Person specification

  • Problem solving and analytical skills.
  • Attention to detail and accuracy.
  • Proactive and flexible.
  • Can-do approach.
  • Personable and a team player.
  • Salary and benefits

    As well as a salary between £43,672 and £57,974, we offer :

  • Civil Service Pension arrangements, which are recognised as some of the best in the pensions world
  • discretionary bonus arrangements
  • access to performance related pay progression
  • 25 days annual leave provision
  • flexible working arrangements
  • development opportunities
  • enhanced parental leave arrangements
  • a free employee assistance programme
  • an excellent office location in Brighton
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