Actuarial Consultant

JOB PURPOSE:
This role holder will be responsible for getting things right for UK Defined Benefit retirement clients. He or she is involved in every task and detail connected with the client and considers all issues to ensure that tasks and assignments are accurate and complete. 

KEY ACCOUNTABILITIES:
 

The role will encompass a range of actuarial work for UK defined benefit pension clients, including some or all of the following areas:

Delivery/Subject Matter Expertise

• Prepares / coordinates actuarial reports
• Supervises phases of actuarial valuations and special projects
• Prepares material for and attends client conference calls (as relevant); capable of making presentations to clients and prospects
• Manages implementation of new services
• Assisting scheme consultants with the consultancy aspects of pension schemes
• Coordinates and reviews project assignments to ensure timely and accurate work product
• Assists in the development and presentation of proposals for consulting services
• Proactively provides consulting services and develops responsive solutions
• Attains billable hours objectives by applying acquired skills in production of client deliverables
• Takes personal responsibility for the timeliness and quality of the work performed and for completing the work within budget
• Able to explain and to help clients analyse the pros and cons of alternative means available for addressing client needs and to describe and, when appropriate, to demonstrate relevant software and related tools
• Ability to use the tools of the trade:
  • Regulator’s guidance
  • Accounting standards boards’ statements and “Q’s and A’s” for financial accounting rules
  • Internal consulting experts

Client/Market 

• Where necessary, maintains contact with clients regarding work product as well as client inquiries 
• Able to listen to the client, to understand the problem that needs to be addressed and to articulate the means of doing so
• Seeks to grow client relationships and proactively and continuously improve the efficiency of our services so that we remain competitive
• Consults with other Buck lines of businesses regarding projects and/or expanded client relations
• Assists in preparation of client invoices

Contribution to Firm

• Assists in hiring, training, and motivating  junior level staff; provides feedback and helps to terminate employees who are not suited for their role or manage them to a more appropriate role , as necessary
• Demonstrated ability to work and communicate within a team environment
• Assists in improving work processes
• Responsible for organising, delegating and supervising the work of junior level staff
• Acts on new opportunities and accepts challenges and responsibilities 
• Maintains in-depth knowledge of types of benefits products available in the marketplace
• Increases knowledge by participating and running training activities
• Brings in more experienced personnel as appropriate to the situation and/or assignment
• Shares work product with other consultants across Buck
• Pursuing actuarial credentials through continual professional development.

Other

• Peer reviewing and ensuring own work is peer reviewed as appropriate
• Maintaining accurate time recording and charging to clients where applicable
• Staying abreast with applicable regulatory bodies
• Adhering to Corporate Policies and Procedures (CCPs)
• Reporting any suspected breaches to management/compliance department upon discovery

QUALIFICATIONS:
 

• Strong technical knowledge in relation to UK Defined Benefit pension schemes

• Significant experience of work in two or more of the following areas:

• Pension scheme funding valuations
• Pension accounting disclosures (FRS17, IAS19 and USGAAP)
• Individual actuarial calculations for pension scheme members (e.g. transfer values)
• Actuarial factors
• Pension data analysis
• Guaranteed Minimum Pension (GMP) equalisation

• Strong communication / presentation skills (but not necessarily any experience presenting to clients)
• Able to prioritise, organise and carry out tasks within deadlines
• Good numeracy and literacy skills
• Proactive and a team player
• Attention to detail
• Computer literate
• Management skills
• FIA/FFA qualified