Job Title: BPA Implementation Analyst

Contract Type: Permanent         

Hiring Manager: Jonny Brown

Recruitment Business Partner: Jonny Howgego

Grade: B-1

Location: Alderley Edge, London, or Edinburgh

Working style: Hybrid 50% home/ office based

Closing date: 5th April 2024

An exciting opportunity has arisen to join our newly created Bulk Purchase Annuity (BPA) Operations Team on a permanent basis.

Annuities are a key area of growth for Royal London. We believe that we are ideally placed to be a partner of choice for our clients and help to build financial resilience, whilst also providing an attractive return on capital, diversification, and future financial protection for existing members of Royal London.

The purpose of the role is to perform activities associated with the implementation of BPA business. The role will cover a range of one-off and ongoing activities from implementation through buy-in and transition to buy-out.

About the role

• Proactive approach to building and documenting the operations team understanding of upcoming new scheme transactions, including the complexity of the scheme benefits and the data quality.
• Planning and execution of the migration of data used in the pricing process onto the administration platform, in a well-controlled and efficient manner.
• Review and documentation of contractual terms to understand operational obligations and timelines.
• Setting up and tracking of activity through workflow management tools
• Performance of activities to support the monthly payment to scheme Trustees, alongside managing the processing of membership movements.
• Processing of updated and cleansed scheme membership data, including recalculation of the monthly Trustee payments based on updated data.
• Close working relationship with numerous internal teams within Royal London, including the scheme pricing and liability valuation teams.

About you

• General understanding of, or willingness to build knowledge of defined benefit pension and BPA markets (noting structured training and an opportunity to gain professional qualifications is provide through the role).
• Experience with reviewing contracts, with the ability to extract relevant information to plan for key milestones.
• Appreciation of operational challenges that can arise from data migration and ongoing management.
• Competent in performing calculations using proforma spreadsheets and self-reviewing and sense checking outputs.
• Desire to undertake professional training (i.e. PMI qualifications) if not already qualified.
• Experience with managing senior stakeholders and working towards deadlines.
• Continuous improvement mindset; proactive approach to embedding processes through implementation and identifying areas for further improvement.

About Royal London

We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.   

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve. 

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our Benefits  

Inclusion, diversity and belonging 

We’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.