About the Company
Xafinity Consulting is a UK specialist in pensions actuarial, consulting and administration, providing a wide range of advisory and compliance services to over 550 pension scheme clients.
The Company combines expertise, insight and technology to address the needs of both pension trustees and sponsoring companies. The Group has more than 430 employees, and offices in 6 locations across the UK: Reading, Leeds, Stirling, Belfast, London and Manchester.
About the Business Area/Department
Our actuaries work closely with trustees and plan sponsors to devise a funding plan suited to each scheme – within the constraints of legislation. The Reading office provides actuarial and consultancy advice to a range of trustee and corporate clients and is part of a larger actuarial community across our other UK office locations. We use plain English believing that clarity is as important as accuracy in the delivery of actuarial advice.
Main duties and responsibilities
The main duties of this role will involve carrying out individual member calculations, preparing valuation results, writing spreadsheets and preparing first drafts of reports.
- Undertaking/Checking basic actuarial calculations in the following areas:
- Actuarial Valuations
- Calculations in respect of pensions disclosures relevant to Company accounts
- Individual Benefit Calculations
- Transfer Value Calculations
- PPF Levy Calculations
- Provision of actuarial information, eg for the completion of annual Scheme Returns
- Ensuring work is appropriately reviewed, documented and filed
- Understanding/challenging as necessary any changes made by more senior colleagues
- Developing a basic understanding of relevant technical issues, including TASs, Codes of Practice, scheme documentation and the supporting regulatory framework
- Familiarity with the Actuaries Code and Xafinity Consultings whistleblowing policy
- Carrying out checks and producing documentation for checking by a more senior colleague to ensure accuracy and compliance with professional standards
- Preparing standard reports and other written communications from precedents in an appropriate format
- Maintaining up to date client task lists
- Reporting to the Team Leader areas where tight deadlines and/or budgets have been imposed, and supporting other colleagues
- Prioritising and planning personal workflow, ensuring all work is appropriately checked
- Making progress with the actuarial exams, in accordance with study policy guidelines
- Developing an understanding of the structure and processes of PFaroe, Microsoft Office and other relevant software
- Attending and actively participating in internal technical training sessions & demonstrating application of learning
- Identifying areas where further personal training is required and reporting to Team Leader
- Developing working relationships with local colleagues in other departments
- Taking a proactive role in personal development/training, and arrangement of PDRs
- Completing timesheet accurately on a daily basis and ensures it is saved prior to the weekly deadline
- Ideally, 1-3 years experience as an Actuarial Student, educated to degree level with a minimum 2:1 degree
- Candidates should be studying for the Actuarial Professional Qualification
- Broad understanding of how the UK pensions schemes operate, with an understanding of the UK Pensions Act with the ability to interpret rules and awareness of what they mean for client work
- Excellent planning and organisational ability to prioritise and complete work in accordance to deadlines
- Good analytical skills and ability to work through tasks in a logical manner
- Excellent written and verbal communication skills
- Strong IT skills with good working knowledge of MS Office suite of products, in particular Excel
We offer an attractive reward package, typical benefits can include:
- Competitive salary
- Participation in Discretionary Bonus Scheme
- 23 days holiday, rising to 25 days after two years’ service
- Pension Plan
- Flexible Benefits Scheme to support you in and out of work, helping you look after you and your family covering Security & Protection, Health & Wellbeing, Lifestyle
- Life Assurance cover
- Xafinity Rewards (offers discounts and savings from retailers and services providers as well as offers available via phone)
- Interest free season ticket loan
Please note this role requires 2-3 years experience in a similar role and be part qualified.
Xafinity Consulting is an equal opportunities employer and positively encourages application from suitably qualified and eligible candidates regardless of sex, race, disability, sexual orientation, religion or belief.