DB Reinsurance Analyst

DB Reinsurance Analyst

Location: London

Job Type: Full time

Who are Just? We’re a FTSE 250 Financial Services company who specialise in retirement solutions. 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. We help people achieve a better later life by providing competitive and innovative products, services, financial advice, and guidance to help our customers achieve security and certainty in 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.

Job Role Accountabilities

• Support delivery of key reinsurance development 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.
• Support efficient execution of new reinsurance contracts.
• Develop a deep technical and operational knowledge of all systems and tools used in DB.
• Continuously look for areas to improve processes and efficiencies.
• Prepare written reports for internal committees.
• Carry out detailed pricing analyses to develop a deep understanding of different reinsurers’ bases.
• Develop strong technical skills, including learning new coding languages.
• Work collaboratively with colleagues in Finance and Reporting and the DB Data and Integration and DB Operations team.
• Proactively promote a culture of collaboration and engagement within the DB Pricing team.

Examples of Key Activities

• Analysing live pricing received from reinsurers and calculating relevant pricing metrics under various reinsurance scenarios.
• Ensure reinsurance terms are accurately built into pricing models.
• Presenting analysis to internal committees via written reports.
• Prepare and present pricing feedback to reinsurers to strengthen relationships.
• 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.
• Non-excel coding experience is desirable, for example Julia, Python, and/or VBA.
• Excellent verbal, written communication, and interpersonal skills.
• 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. Diversity, Equity, and inclusion (DE&I) is a key priority for Just. We care about our customers, our purpose, our environment, inclusivity, wellbeing, and most importantly - each other.