Rothesay is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £60bn of assets and securing pensions for over 830,000 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.


Job title:          Operations - Liabilities and Reinsurance

Reports to:      Operations Manager

Contract:         Permanent


Operations - Divisional Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our business.


Operations strategy is underpinned by 3 guiding principles:

  • Payments: Pay our policyholders, Trustees and counterparties accurately and on time, within regulatory guidelines
  • Policyholders: Follow the Regulator’s Treating Customers Fairly (TCF) guidance and ensure a best-in-class policyholder experience
  • Data: Maintain accurate and complete data for risk and capital management


These 3 principles drive our processes and controls, and are essential for protecting our reputation, managing our risk and capital position, and managing our Third Party Administrators (TPAs).


General activities of the Operations team include:

  • Act as an independent control over transactions of the business
  • Trade capture to ensure risk bookings are an accurate reflection of contractual obligations
  • Execution and management of lifecycle events
  • Support of projects in department-wide initiatives
  • Development of technology infrastructure to drive efficiency and scale
  • Detailed data analysis and reconciliations

Several core teams manage the risks and controls within the Operations division including:

  • Liabilities Middle Office: Responsible for ensuring all contractual commitments for liability trades are serviced correctly whilst maintaining a robust control environment. The role is varied including cash management/funding, data analysis and development of scalable and efficient controls
  • Reinsurance Operations: Responsible for the implementation of new reinsurance trades to Rothesay’s operational processes and subsequent servicing of contractual commitments and trade lifecycle events, with a focus on maintaining a robust control environment
  • Buy-in Automation: Responsible for the implementation, maintenance and continuous improvement of Rothesay’s in-house model for administrating buy-in transactions. The team also directly owns the client relationship with each scheme on-boarded
  • Technology Operations: Responsible for the systems implementation and maintenance / improvement of Rothesay’s in-house administered trades (Liabilities and Reinsurance). The team works closely with the Rothesay Technology department


Purpose of roles:

  • Complete a range of daily control activities which include ensuring front to back data flows are accurate, trade capture is correct and payments/funding occur accurately and on time
  • Execution and management of lifecycle events such as routine data cleanses
  • Monitor accuracy of liability and reinsurance data being maintained by TPAs which ultimately drives risk positions for the business. This is done through data reconciliations and the use of exception reporting
  • Work with the TPAs to ensure operational service is delivered accurately and per SLA. This will involve resolving queries and working with our TPAs to refine and build process improvements
  • Reporting of key risk metrics to management
  • Perform a number of data reconciliations, analysing results and seeing issues through to completion
  • Continuous process improvement is key in this growth business and supporting projects and technology change is a function of this role
  • Managing key stakeholders including Management, Pricing, Tech and Compliance along with good project management
  • Deliver presentations and updates to internal and external stakeholders (including senior management)
  • Where applicable, contribute to the CRM function for our growing list of clients, attending and leading client meetings to resolve any issues and maintain strong client relationships


Skills & Experience:


  • Minimum 2:1 degree from a leading university (please note strong candidates with exceptional work experience will also be considered should the degree criteria not be met)
  • Demonstrable ability to manage multiple projects, tasks and own workload, whilst remaining focused on operational risks
  • Ability to demonstrate collaborative working practises, soliciting feedback from others on work and ideas
  • Ability to think about the big picture and deliver above and beyond core functions
  • Accuracy and absolute attention to detail
  • Strong communication skills to clearly articulate status and issues to others


  • Strong MS Excel skills (VBA beneficial)
  • For the Technology Operations team, familiarity with coding languages such as Python/SQL/VBA
  • Some pensions, insurance and/or reinsurance knowledge
  • Ability to work with complex documentation and identify operational controls
  • Understanding of risks/controls in an operations environment, including knowledge of RCSAs


  • 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.



Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.


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