Opportunities

Third Party Administration Manager

The Rothesay Life Operations team is a dynamic division that partners with all areas of the business providing essential risk management whilst preserving and enhancing the assets and reputation of the business. The Operations Team is responsible for supporting the contractual commitments of the business. It is also a customer service unit providing first class policyholder service, client management and TPA (Third Party Administrator) management or our 3 administration providers.  It is responsible for over 400,000 policy holders with over £20bn of assets under management. It has a fundamental responsibility in our data management, data validation and data protection / client confidentiality.    The Operations Team seeks to exceed the standards set out in ‘Treating Customers Fairly’ and other guidelines from the FCA and the Pensions Regulator.

Key activities for this role include:

  • Support the management of our 3 third party administrators located in multiple UK locations – managing SLAs / KPIs, delivery against initiatives
  • Deliver first-class member/policyholder service (including active TCF engagement)
  • Perform operational reviews and audits of processes and calculations
  • Compliance and complaints management
  • Coordinate and implement key strategic initiatives
  • Cost and budget management
  • Efficiency drives – continuous improvement initiatives focussing on processes and core controls
  • Client relationship management
  • Keep abreast of legislative and industry practice changes and implement these in the business

Skills & experience:
Mandatory:

  • Career pensions administrator with demonstrable knowledge of pensions administration process design, management of all scheme level events, internal controls, calculation automation and member communications
  • Strong understanding of risk management
  • Ability to analyse complex documentation and summarise key operation controls required to risk manage transactions
  • Enthusiasm for and experience of project work to drive continuous improvement
  • Possess a degree from a leading university in a relevant subject and/or have relevant industry qualifications
  • Accuracy and absolute attention to detail
  • Ability to manage multiple tasks across and stay focused on the operational risks
  • Very strong communication skills with ability to clearly articulate issues to senior management
  • Strong Excel skills
  • Ability to manage own workload and work as part of a team

Preferred:

  • Pensions insurance and/or reinsurance experience
  • Knowledge and understanding of the longevity risk market (eg: buy-outs, buy-ins, longevity swaps, reinsurance)  

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Graduate Roles - Actuarial / Quantitative Analysts / Trading

We are looking to recruit up to 6 graduates to join us in Sept - Dec 2017;

  • 1 for our Actuarial Team.  Our actuarial vacancies are for roles within the capital actuarial team which focuses on the actuarial aspects of Rothesay's solvency position and financial results. Candidates would be expected to study for the IFoA qualification with an expected specialism in life insurance.  When you join us, your work will be highly varied involving all aspects of Solvency II, IFRS, Economic capital and MCEV reporting and development.
  • Up to 4 for our Quantitative Analysts Teams.  Our Quant Analysts work in both the Front Office and our Risk teams.  We are looking for highly academic quantitative candidates to solve challenging and complex problems.  This will require mathematical understanding as well as programming to implement models and calculations.  On the job, you will learn Financial Pricing mathematics and programming and be exposed to all parts of the Business of Rothesay Life.  Successful applicants will be invited to a 2 week internship in late-Summer 2017.
  • 1 for our Trading Desk.  As a graduate trader, you will be exposed to trading in derivatives across interest, inflation and cross-currency markets, as well as managing the asset book, with the view of gravitating towards work you are most interested in and perform at the highest level. The training you will undertake is high in intensity and will require you to undertake challenging project and day-to-day work that will extend your skills, and give you direct access to the high calibre multi-disciplined Rothesay trading team.  


Our graduate roles will see you working in your key team, with support from thought-leaders in the industry and excellent on-the-job training supplemented with class-based business training where best applied. We are a company of exceptional calibre, with a client portfolio and shareholder base to match. We recommend that you review our website and press-articles regarding our position in the industry. We believe strongly in our meritocracy where success and achievement are rewarded.  We will regularly discuss your career aspirations with you and together decide on the best way forward for you and your career. We will offer a study package should you wish to pursue a professional qualification that meets the needs of our business.

You will need to be able to balance teamwork and competition, intensity and integrity, intellectual curiosity and leadership potential with a passion for excellence and an interest in the financial markets. The three teams seeking new graduates this year offer very different career paths. You will need to supply your CV and a covering letter, to indicate which team you’d like to join and why. Combined applications for all 3 teams will be rejected. In your covering letter, you should be able to articulate the reasoning behind your choice of team and provide evidence from your CV to support your application. 


What we are looking for:

  • We recruit from all academic disciplines; although a high degree of numeracy is needed. Financial Mathematics or Computer Science is preferred for our Quantitative Analysts.
  • Impeccable academic credentials are essential.  You must have an expected degree minimum of a 1st or equivalent from a leading university.
  • Internships & work experience in the financial services is highly desired but not essential.
  • You must be available for permanent work to start in 2017; we can provide flexibility for your start date. 
  • Fluency in English is a prerequisite.

 

How to apply

You will need a 1 page CV and a 1 page cover letter (PDF format) that states in 300 words or less, why you want to work for Rothesay Life, which team you are applying for, why we should consider you and why you believe the match between yourself and our Company is a good one.

Applications will be accepted until 31st July 2017.  Telephone interviews and office interviews will be held in June and July.  

Please apply via this link ensuring your documents are named and in PDF format. 

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Transitions Manager

Working with key internal and external stakeholders the Transition Manager is accountable for the implementation phase for all de-risking transactions from initial due diligence through to final premium adjustments and issuance of Individual Policies if applicable.

Key activities include:
• Manage a portfolio of implementations acting as a single point of contact for Trustees and their advisors. 
•  Participate in new business pitches to present on our service capability.
•  For Buy Out transactions, conduct detailed due diligence on pension schemes and their data to ensure that key cleansing items are identified.
•  Work with the business development and execution teams to agree key contractual terms for each transaction.
•  Work with new business pricing teams to ensure that benefit specifications are accurately written and reflect the proposed pension scheme liabilities.
•  Develop and manage project plans ensuring that both contractual and customer commitments are delivered on time, chairing regular implementation meetings with clients and their administrators as appropriate.
•  Write individual policy documentation ensuring that the benefits described are in line with those secured and then oversee the issuance of the policies.
•  Work with the operations team to ensure a seamless handover of schemes once the implementation phase is completed.
•  Produce weekly and monthly management information.
•  Keep up to date with legislative, product and market changes affecting our core business and the products that we offer.

Skills & experience:
•  Technical pensions knowledge (ideally final salary) including regulation and benefit structures
•  Good understanding of de-risking market and associated products
•  Experience of final salary pension schemes and benefit structures gained through operations, implementation or consulting
•  Exposure to working with or for pension advisory firms.
•  Managing complex projects / stakeholder groups 
•  Report writing and delivery of presentations 
•  Good evidence of successful project management planning & delivery
•  Demonstrable skills at stakeholder management
•  Excellent verbal and written communication/presentation skills
•  Organisation and self-management 
•  Completer/Finisher

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 financial/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
•  Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
•  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

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Summer Internship - Quant Analysts

Rothesay Life Summer Internship for Quantitative Analysts

Rothesay Life has places on its short 2017 Summer Internship for talented mathematics and computer science students which could lead to a permanent role as a quantitative analyst. 

About Quant Analyst Roles at Rothesay

In our daily work, we work closely with our traders and structuring team, analysing pension fund buyout trades and asset opportunities. We provide a comprehensive set of risk reports and pricing tools for the team, and are an integral part of the risk management of Rothesay Life. In general, we are looking for smart, quantitative, commercial, problem-solving-oriented, “get-things-done” candidates with an excellent academic record and a proven track record of delivering robust, high performance software and quantitative analyses in the financial markets.  

Our quantitative analysts occupy the intersection of finance, markets, maths, computer science, and programming. Working side by side with Rothesay’s trading, sales, banking and investment management professionals, members of the Quantitative Strategy team use their excellent mathematical and scientific training to create financial products, advise clients on transactions, measure risk and identify market opportunities.

What you will do

Based in The Leadenhall Building in London, our Quant Summer internship will run for 2 weeks from Monday 31st July until Friday 11th August 2017. The programme is high in intensity and will require you to undertake challenging project work, that will extend your skills, give you direct access to the high calibre multi-disciplined Rothesay team including our risk modelling team and our quantitative analyst team to gain insight into their work and how they support our front office activities.   
 

What we are looking for
Shortlisted candidates will:

  • Hold or expect to achieve a 1st class degree from a leading university in a relevant highly numerical degree, ideally in mathematics, computer science or related scientific area.
  • Have evidence of achieving academic excellence in mathematics and probability applied to the financial services sector.
  • Have relevant work experience in financial services using quantitative analysis and programming skills (Python, Java,  C, C++ or other major language).
  • Be fluent in English so that you can demonstrate excellent verbal and written communication skills for sharing and explaining your work to others.  
  • Be able to demonstrate commitment and enthusiasm for working in a quantitative team.
  • Be available for permanent work within 2 months of your graduation in 2017.

What we are offering

  • We will pay you £200 per day (£2,000 in total for the internship).  
  • All travel and accommodation expenses if required will be covered by the Company if you are not London-based.
  • By successfully completing this internship, you will have the chance to secure a permanent graduate role with Rothesay Life, starting after your graduation in 2017. Our starting salary package for the permanent role is very competitive.  This year, we are looking to offer 2-4 graduate roles. 
  • We  are a company of exceptional calibre with a client portfolio and shareholder base to match. We believe strongly in our meritocracy where success and achievement are rewarded. 

How to apply

You will need a 1 page CV and a 1 page cover letter (PDF format) that states in 300 words or less, why you want to work for Rothesay Life, why we should consider you and why you believe the match between yourself and our Company is a good one.

Applications will be accepted until Friday 30th June 2017.  Telephone interviews and office interviews will be held in May and June.  

Please apply via this link ensuring your documents are named and in PDF format.

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