Aviation Underwriter

Rothesay

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £69 billion of assets under management, we secure the pensions of nearly one million people and pay out, on average, approximately £350 million in pension payments each month. Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury’s, the Civil Aviation Authority, the Co-Operative Group, National Grid, NatWest, Morrisons and Telent. At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.  Job title:           In-Force Management              Scheme Transition work * Review data from pension scheme * Work with the transition team and the pension scheme advisers to resolve any issues or queries * Ensure compliance with contractual requirements for data cleansing actions * Where relevant, calculate premium adjustment, in line with approach set out in the contract * Work with RL third party administrators and in-house teams (as applicable) to set up scheme database, including coding of calculation routines and payroll reconciliations * Set up RL valuation system to receive data from administrators and update modelling * Explain the move in value as a result of data or modelling updates * Work with pricing team to understand any benefit and/or data complications * Monitor monthly updates, to ensure accurate modelling and administration * Provide input to transition team in production of Individual Policy documents, ensuring proper benefit descriptions Longevity swap data cleanse * Construct updated data files for the reinsurers to reflect cleansed data * Update the fixed cashflows underling the longevity swap to reflect the new data * Explain the move in value between the old and new fixed cashflows, reconciling to data changes * Ensure compliance with contractual requirements for data cleansing actions * Update trade bookings and explain any moves in value GMP equalisation * Check implementation of GMP equalisation as calculated by the pension scheme * Manage implementation of ongoing calculations with administrator Ad-hoc * Work on projects with pricing & reinsurance team, relating to backbook liability and reinsurance deals * Validating individual records and data * Independent reviews of trade bookings (liability and reinsurance) * Complying with and checking adherence to contractual requirements * Due diligence exercises in relation to new deals or backbook deals proceeding to buyout * Monitor and control reserve balances, ensuring continued appropriateness, and take actions to ensure accuracy * Actuarial support for ad-hoc backbook initiatives such as option exercises Individual calcs * Implementing calculation routines on in-house systems * Checking results of internally/externally produced calculations  Skills & Experience * Experienced pensions actuarial work * Actuarial qualification desirable but not mandatory * Mature decision-maker * Problem solver * Eye for detail * Happy to take on big projects * Persistent * Self-motivated * Likes to improve efficiency  Rothesay competencies * Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills * Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks * Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions * Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others * Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues * Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value * Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role. Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Rothesay

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £70 billion of assets under management, we secure the pensions of more than one million people and pay out, on average, approximately £300 million in pension payments each month. Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury, the Civil Aviation Authority, the Co-Operative, Morrisons, Smiths Industries and Telent. At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years. Job title: Quantitative Engineer Contract: Permanent Under the leadership of the Chief Technology Officer, Rothesay has launched a multi-year project, Project Quest, to redevelop and modernize the full technology stack, encompassing pricing and other analytics, risk management, market data and trade capture and reporting. Project Quest is nearing the end of phase two, which has successfully delivered to production several key components and established the core engineering required for the new platform. As we move into phase three, which will involve multiple and varied projects running in parallel, we have opportunities for a select few new hires to join the Quest team. This is a rare chance to work with and learn from Rothesay’s team of extremely highly regarded, experienced and friendly software engineers. At Rothesay Life every employee has the opportunity to make a real impact to the business. The engineering team are open to new technologies and creative ideas. Responsibilities: * Be part of the team responsible for the major build-out of functionality on the new platform, using a combination of Rust (https://www.rust-lang.org/) and Python * Project including but not limited to: * Trade modelling and pricing * Market data processing * Risk reporting * Scenario analytics tools * Dev Ops / platform engineering * Participate in BAU support rota (shared across Strats and Technology), providing useful opportunities to interact with colleagues across diverse areas of the business Skills & Experience * In general, we are looking for smart, commercial, problem-solving-oriented, “get-things-done” candidates with a proven track record of delivering robust, high performance software and quantitative analyses and with either experience in financial markets or a keen interest to learn about them. * Advanced analytical skills (typically evidenced by a degree in maths, physics, computer science, engineering, etc.) * A deep passion for technology and software development * Excellence in applied programming skills - Python, Rust, C++ or other major languages (experience with the proprietary "securities language" Slang is not expected – but the role may involve some Slang development) * A team player with excellent communication skills Desirable: * Demonstrable, applied expertise in creating and validating pricing and/or risk models for use in a financial services organisation. * Understanding of Fixed Income products and derivatives. * A broad understanding of model risk, bringing new approaches and processes to Rothesay Life. * Python programming experience * Rust programming experience * A track record of contributions to an open source project * Linux/Unix experience * Microsoft Windows experience * Cloud computing experience Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Rothesay

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £69 billion of assets under management, we secure the pensions of nearly one million people and pay out, on average, approximately £350 million in pension payments each month. Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury’s, the Civil Aviation Authority, the Co-Operative Group, National Grid, NatWest, Morrisons and Telent. At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.    Responsibilities: Strategists (Strats) occupy the intersection of finance, markets, maths, and programming.  In our daily work, we work closely with traders and structuring teams, analysing trades and asset origination opportunities for execution and ongoing management. This emphasis on advanced financial mathematics and a highly analytical approach as an integral part of the risk management at Rothesay distinguishes the firm from many of its competitors. In general, we are looking for smart, quantitative, commercial, problem-solving-oriented, “get-things-done” candidates with the skills to deliver robust, high-performance software and quantitative analyses and with either experience in financial markets or a keen interest to learn about them. The successful candidate will be focused on improving the pricing and risk management of Rothesay’s assets including fixed income bonds, RMBS and other ABS, commercial real estate loans, residential mortgages, and equity release mortgage securitisations, and on the development of models and systems for new asset types. Skills & Experience Required: * Advanced quantitative skills (typically evidenced by a degree in maths, physics, computer science, engineering, etc.) * Excellence in applied programming skills - Python, C, C++ or other major languages. * Experience in creating and validating pricing and/or risk models for use in a financial services organisation  Preferred: * Knowledge of financial mathematics and stochastic calculus. * Experience of risk management or pricing models for securitized products * Understanding of Fixed Income products and derivatives.    Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.   Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.