BPA Implementation Operations Manager

Job Title: BPA Implementation Operations Manager

Contract Type: Permanent

Location: Alderley Edge

Working style: Hybrid 50% home/office based

Closing date: 30th September 2024

We are currently looking for a BPA Implementation Operations Manager to join our new and growing Royal London Bulk Annuities team.

In this role you will oversee, and support activities associated with the implementation and ongoing administration of Bulk Purchase Annuity (BPA) business. You will cover a range of one-off and ongoing management activities from implementation through buy-in and transition to buy-out.

This is an exciting time to join Royal London. Bulk annuities are a key area of growth and you will have the opportunity to be instrumental in shaping the team early on whilst working with a range of talented colleagues. We believe that we are ideally placed to be a partner of choice for trustees of defined benefit schemes, helping to build financial resilience. 

About the role

The role holder will be responsible for the day-to-day management of the following activities:

• Pre-execution data and operational complexity due diligence.
• Scheme onboarding.
• Scheme trustee and administrator management.
• Shadow administration (including buy-in payroll, member option validation and movement processing).
• Data flow and control.
• Data cleanse and true-up.
• Transition to buy-out (including policyholder communication and admin and payroll transition).
• Ongoing reporting (including production and review of management information and valuation extracts).

About you

• Experience in BPAs preferable, with an understanding of defined benefit pensions administration.
• Experience with reviewing contracts, with the ability to extract relevant information to plan for key milestones.
• Understanding of reinsurance is desirable.
• Comfortable with and good understanding of actuarial spreadsheet models.
• Appreciation of operational challenges that can arise from data migration and ongoing management.
• Understanding of the defined benefit pension market, if not direct work experience.
• Comfortable checking calculation proforma inputs and sense checking outputs.
• Relevant qualifications desirable (e.g. APMI). We will support the undertaking of professional training where appropriate.
• Credible individual, with a financial background
• Experience with managing senior stakeholders.

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.