Actuary - Open Products Lead
About the Role The Group Products team develop and oversee the suite of products and services available to clients of St. James's Place, ensuring they are fairly priced, support business growth and deliver good client outcomes. Within this role you’ll provide actuarial expertise to the Divisional Director of Manufactured Products in developing the range of manufactured wrapper products open to new business. This opportunity will suit a candidate with experience in a product development, pricing or commercial function. You’re likely to be a qualified actuary with experience and knowledge gained from within the financial services sector. What You’ll Be Doing You’ll ensure that the product design and pricing of SJP products and services open to new business complies with all relevant regulations and legislation, including the Consumer Duty. Represent the Division on a range of cross-business projects, acting as Subject Matter Expert and monitoring resource to ensure successful implementation. Example projects may include product pricing of a new product or regulatory change impacting our products. Contribute to the research, design and development of profitable new products, making recommendations where these will add value. Provide actuarial support to various stakeholders including the Partnership, third-party administrators and internal teams across a range of business areas. Work including pricing concessions, product functionality, illustrations and other calculations. Liaise and maintain relationships with teams across the business and with a range of third-party providers. Provide figures and analysis to support business decisions, ensuring accuracy of illustrations, terms and conditions and product documentation. Act as a role model to junior actuaries and actuarial analysts, providing guidance and support. Essential Criteria: Likely to be a qualified actuary (Fellow of the Institute and Faculty of Actuaries) with several years post qualification experience in a product development, pricing or commercial function. Excellent knowledge of UK Financial Services marketplace and consumer needs relating to financial products. Ability to acquire strong understanding of regulations and legislation relevant to St. James’s Place products. Excellent Excel and other IT skills. Good understanding of processes such as Key Features Illustrations, charges and costs disclosure requirements and product governance. Ability to work autonomously, managing your time effectively to deliver against responsibilities. Great problem-solving skills, with the ability to understand and respond to complex issues. Able to find pragmatic solutions when faced with a range of numerical and regulatory constraints. Comfortable representing the Division in cross-divisional meetings and working groups, requiring strong communication skills and effective collaboration with a range of stakeholders, including to a senior level. Other: Occasional travel within the UK as required.
