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Pensions Calculations Specialist

Employer
Willis Towers Watson
Location
Redhill, Surrey, United Kingdom
Salary
Competitive Salary
Closing date
Feb 13, 2024

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Job Role
Financial Planning
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Our work touches the lives of millions of people. We are dedicated to helping our clients deliver an excellent experience to the members of their pension schemes. This is an exciting opportunity to join the Outsourcing team as a Pensions Calculation Specialist within the Business Solutions function.

The role will be working alongside a number of other skilled DB Calculation Experts (located on and off-shore) who work on a large portfolio of DB occupational pension schemes. As our Outsourcing business continues its rapid growth in all areas (supporting some of the largest pension schemes in the country, supporting LifeSight, supporting some of the largest insurers in the pensions market and implementing our OneDB proposition) there is an opportunity to enhance the ways of working in the team and drive efficiencies.

A strong knowledge of Guaranteed Minimum Pensions and Equalisation, both GMP and Barber periods, together with strong Defined Benefit knowledge is essential.

At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a ”hybrid” style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and “hybrid” is not a one-size-fits-all solution. This role can be either remote or hybrid with a base office of Redhill, Welwyn or Leeds.

The Role
  • Checking and peer reviewing work of other Calculation Analysts.
  • Providing, or approving, cost and timeline estimations for new projects.
  • Analysing business requirements, Trust Deed and Rules and other scheme documentation and planning an appropriate software solution with a focus on accuracy, build efficiency and maintainability.
  • Foster a culture of quality and instil behaviour required for success.
  • Interact with third parties such as the scheme actuary and solicitors to clarify complex and technical queries.
  • Completing given tasks in a timely fashion including managing deadlines appropriately.
  • Providing an efficient, professional service to meet all client needs and to promote the WTW brand.
  • Alongside other analysts produce detailed calculation proforma from first principles and supporting automation test packs.
  • Work towards developing and optimizing end to end automation.
  • Build on technical expertise/capabilities/skills and contribute towards measurable improvements.
  • Contribute to the implementation of continuous improvement initiatives and single team culture to increase end to end automation efficiencies and results.

The Requirements
  • Strong Defined Benefit Knowledge, including historical knowledge of UK Pensions Legislation.
  • Significant background in UK occupational pensions.
  • Self-starter attitude and ability to work well within ambiguity.
  • Adeptness at learning new technology and tools.
  • Strong written and verbal communication skills.
  • Strong ability to think through problems and implement solutions.
  • Demonstrated ability to multi-task and work on virtual teams.
  • Process driven with ability to modify approach.
  • Excellent time management and ability to meet deadlines.
  • Working knowledge of MS Excel & Word.
  • Good time management skills and the ability to organize and prioritize own workload.
  • Problem solving and analytical skills.
  • Ability to work effectively as an independent contributor or as part of a broader team.
  • Experience establishing standards and procedures and advocate best practices.
  • Some knowledge of Unix-based operating systems, use of the command line and SQL is advantageous but not essential as training will be provided.
  • Strong knowledge of Contracting Out Requirements such as GMP

At WTW, we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome, valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.

Equal Opportunity Employer

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