Defined Benefit Solutions (DBS), part of Aviva’s Corporate business, provides defined benefit pensions de-risking solutions to meet the needs of pension scheme sponsors, trustees and members. The core proposition is based around capability in Bulk Purchase Annuity (BPA) transactions, ongoing pension administration and compliance actuarial services.
DBS is rapidly growing to become a leading player in the Bulk Purchase Annuities market and has ambition to continue growing quickly both in the UK and abroad. As part of the Aviva Group, DBS also plays a key role in driving the development of the overall Aviva de-risking proposition to DB schemes, working particularly closely with Aviva Investors.
This senior role, in a fast-growing, diverse team with a “start-up” feel, will be a dynamic one and will suit a strategically-minded individual who has a desire to help drive and craft the investment direction and operating model of a growing, dynamic business.
What will the role include?
Responsibility for oversight and due diligence into specific illiquid/private asset transactions: researching, assessing, filtering, prioritising, and seeking approval at UK Life level.
Production and co-ordination of papers to risk/governance committees to support proposed transactions.
Ensuring the right balance between risk/reward and the right mix of risk exposures within the growing annuity book.
Research into new asset classes, or expansions/variants of existing asset classes, shorter-term trade opportunities, strategic prioritisation of new asset types, detailed setting of proposed allocation allowances/guidelines, and driving the process of internal approvals including the writing of deep-dive papers.
What skills & experience are we looking for?
Knowledge of the lower-risk asset market, especially the private asset space but also covering diverse cashflow-generating asset classes (private and public, physicals and derivatives).
Expertise in working at senior level in, or advising to, an insurance investment or annuities business, or similar risk-managed asset-liability-driven organisation.
Deep understanding of the factors driving insurers’ choices of investment assets and the decision-making processes for asset origination in annuity businesses in a Solvency II context.
An understanding of credit analysis/due diligence for private assets.
A hands-on, dynamic approach, with an ability to lead strategic initiatives and to get buy-in to innovative new ideas.
A shown ability to drive forward change, build effective internal networks, break down internal barriers, handle conflicts, get senior buy-in to new initiatives and deliver complex projects which involve the co-operation of multiple parties.
What will you get for this role?
A competitive salary depending on skills, experience and qualifications
Generous defined contribution pension scheme
Annual performance related bonus and pay review
Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days
Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
Excellent range of flexible benefits to include a matching share save scheme
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Additional Information and Equal Opportunity
One of Aviva’s core values is Care More, and this is brought to life through the flexible ways we love to work. This may include working from home some of the time, or flexible work schedules to accommodate parent and carer responsibilities, further studies and hobbies.
Our diversity and inclusion policies and initiatives are crafting an environment where everyone feels welcome regardless of age, disability, race, ethnicity, gender, gender identity, religion, culture, sexual orientation, national origin, marital status, pregnancy, maternity or those with other caring responsibilities. Our approach helps to ensure Aviva as a place which values difference and provides equal opportunities for all.
As a disability confident employer, we guarantee to interview anyone with a disability (as defined in The Equality Act 2010) whose application meets the minimum criteria for the post. (By ‘minimum criteria’ we mean that you should provide us with evidence which demonstrates that you generally meet the level of competence required, as well as meeting any of the qualifications, skills or experience defined as essential). Please apply through the website and then email the contact listed in the advert to notify us that you meet the conditions for the guaranteed interview scheme.