DB Transaction Solutions Manager

DB Transaction Solutions Manager

Date Posted: 05/02/2025

Location: London

Job Type: Full time

Who are Just? We’re a FTSE 250 Financial Services company who specialise in retirement solutions. Our world is moving quickly, with the defined benefit buy in/buy out space growing each year. Just continues to grow its business by over £4bn of assets annually. 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 peace of mind in retirement.

Purpose

The purpose of this role is to undertake actuarial input on asset solutions and funded reinsurance to support the delivery of the DB Business Plan and the management of ongoing funded reinsurance contracts.

Job Accountabilities

• Support the Head of DB Transaction Solutions with the development of tools, processes, and methodologies for the production of price locks for DB transactions.
• Work closely with the DB pricing team to streamline BAU price lock production and coordinate with Treasury on bespoke price locks for complex transactions.
• Monitor aggregate market risk exposure across ongoing DB transactions and summarise for the Pricing Committee and Market Risk Forum.
• Liaise with Treasury and ALM on the implementation of hedges to mitigate market risk in “exclusivity”.
• Consider scheme requests to transfer liquid assets in-specie as part of premium payment and coordinate with the Investment Team on detailed analysis.
• Support the continued development of illiquid asset solutions, including deferred premium and in-specie transfers.
• Assist in the development of pricing methodologies for larger DB transactions, including bespoke pricing approaches for specific deals.
• Manage collateral for existing funded reinsurance arrangements and support the DB Reinsurance Development team with new agreements.
• Provide ad hoc support for new features as needed for strategically significant, complex, or large deals.
• Develop a deep knowledge of systems and tools used across DB and ensure efficient integration of further developments.
• Develop proficiency in programming languages utilised in DB, particularly Julia, focusing on scalable coding solutions that limit reliance on Excel.

Qualifications

• Obtained FIA qualification.

Skills and Knowledge

• Strong analytical and problem-solving skills.
• Strong IT skills, particularly in Excel and coding.
• Good interpersonal, team working, and leadership skills.
• Excellent verbal and written communication, with the ability to present complex financial concepts clearly.
• Ability to work without supervision.
• Strong technical skills and deep knowledge of actuarial concepts, particularly those underlying bulk annuity pricing.
• Strong knowledge of the DB buy in/buy out market, life insurance, and relevant regulation.

Experience

• Minimum of 3 years of experience working within a pension consultancy or life insurance company.

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 encourage our people to make small and meaningful changes in their everyday lives to protect our planet for future generations.

Diversity, Equity, and Inclusion (DE&I) is a key priority for Just as part of our overall strategy. We ensure all of our people feel proud to work at Just. We have joined initiatives designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from diverse backgrounds.

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.

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