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Opportunities at OAC

Ensuring our clients receive a high quality and personal service at all times is of paramount importance to OAC. Continued growth in the demand for our actuarial services means we have the following exciting opportunity to our join our consulting team.

 

Redress Team ‐ Qualified Actuary

Demand for services from our Pension Redress business area is continuously increasing. We are now looking to recruit a proactive team member to join our team. We are looking for somebody who has experience in the pensions industry, strong technical skills and who enjoys the challenge of varied calculation work.

Position: Redress Team ‐ Qualified Actuary

Location: Employed to work from a home base in the UK with some UK travel
Type of position: Permanent
Salary: Commensurate with experience
Hours: Full-time/Part-time considered

This role will be working alongside a team of pension and investment remediation experts and is ideally suited to someone with commercial and product development experience, an understanding of how a wide range of pension and investment products operate and an advanced understanding of regulation affecting pension and investment products.

Our work involves the production of calculations and reports for the calculation of redress. The role holder will be responsible for the actuarial sign-off of these calculations. 

The individual will also be responsible for the specification and testing of changes and amendments to our proprietary OACIS calculators, the tool we use to calculate loss and redress. They will be required to maintain a good knowledge of current legislation and regulation and be able to communicate this to the team and define specifications for calculator updates. Software updates are produced by our inhouse software developer.

The individual should be able to understand calculations of a very complex nature, often deciding on a method from first principles and producing reports for these cases.

As part of the main Actuarial function in the team, the individual will be required to explain calculations and methodologies to the pensions consulting team and be responsible for knowledge sharing and some training.

The role involves active participation in business development, pre-sales work, new business tenders and developing existing client relationships.

OAC is an accredited IFOA Quality Assurance Standard organisation.

Essential Skills

  • Advanced understanding of how final salary pension schemes and other company pension arrangements work
  • Advanced understanding of the different types of charging structures that different pension schemes, personal pension and other personal investment products may have.
  • Advanced level of Microsoft Excel skills, including the ability to follow complex calculations and to set up new calculations.
  • Able to work in a small team, especially a team where the majority are non-actuaries, supporting and learning from the consultants in the team
  • Communication skills - be able to explain, both verbally and in reports, complex calculations in such a way that they can be understood by those without the same level of technical skill.
  • A self-starter willing to engage on a range of different issues even outside their natural sphere of expertise.
  • Previous experience of regulatory led business reviews and remediation projects would be an advantage.

Organisation/best practice

  • To strive for excellence, best practice and high-quality delivery across the workstreams in OAC
  • To comply with all OAC’s internal policies insofar as they relate to client engagement
  • Ensure that all work complies with regulatory and professional requirements
  • To freely share knowledge, insight, best practice and ideas relevant to the running of an efficient and growing business
  • To help OAC in meeting the required standards set out in the IFoA’s Quality Assurance Standard >General
  • Be prepared to travel to clients in the UK to support presentations, project work and training
  • Manage workload to agreed deadlines and standards of service
  • Liaise effectively with and report to Head of Business, Practice Leaders and project leaders as appropriate
  • Promote the services of OAC and carry out administrative and marketing duties incidental to your job
  • To report any "new business" opportunities of which you are aware to OAC
  • To not breach legal and regulatory requirements placed on OAC
  • Attend training and to develop relevant knowledge, techniques and skills
  • Ensure you maintain your CPD in accordance with the IFoA’s requirements
  • Behave in line with the core values of OAC: Honesty, Inclusive, High Performing and to be Committed to Quality.

To discuss this opportunity or to apply by sending us your CV, please contact Frances Smythe by email to careers@oacplc.com.