Job title: In-Force Management 

‘Rothesay’ is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £50bn of assets and securing pensions for over 800,000 people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.



  • Written over £30bn of new business in 3 years
  • 55bn of liabilities
  • 36bn of reinsurance
  • Role is focussed on existing backbook of business

Scheme Transition work-

  • Review data from pension scheme
  • Work with the transition team and the pension scheme advisers to resolve any issues or queries
  • Ensure compliance with contractual requirements for data cleansing actions
  • Where relevant, calculate premium adjustment, in line with approach set out in the contract
  • Work with Rothesay administrators to set up scheme database, including coding of calculation routines
  • Set up RL valuation system to receive data from administrators and update modelling
  • Explain the move in value as a result of data or modelling updates
  • Work with pricing team to understand any benefit and/or data complications
  • Monitor monthly updates, to ensure accurate modelling and administration
  • Provide input to transition team in production of Individual Policy documents, ensuring proper benefit descriptions

Longevity swap data cleanse-

  • Construct updated data files for the reinsurers to reflect cleansed data
  • Update the fixed cashflows underling the longevity swap to reflect the new data
  • Explain the move in value between the old and new fixed cashflows, reconciling to data changes
  • Ensure compliance with contractual requirements for data cleansing actions
  • Update trade bookings and explain any moves in value

GMP equalisation-

  • Check implementation of GMP equalisation as calculated by the pension scheme
  • Manage implementation of ongoing calculations with administrator


  • Work on projects with pricing & reinsurance team, relating to backbook liability and reinsurance deals
  • Validating individual records and data
  • Reviews of trade bookings
  • Complying with and checking adherence to contractual requirements
  • Due diligence exercises in relation to new deals
  • Drafting of due diligence reports
  • Independent checking of trade bookings and other calculations

Individual calcs-

  • Implementing calculation routines on in-house systems
  • Checking results of internally/externally produced calculations


Skills & Experience

  • Experienced in actuarial work, preferably pensions
  • Does not need to be a qualified actuary
  • Mature decision-maker
  • Problem solver
  • Eye for detail
  • Happy to take on big projects
  • Persistent
  • Self-motivated
  • Likes to improve efficiency



  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations


Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.

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