Job Type: 6 month secondment
Closing Date: 25th July 2025
Salary and benefits: £100,000 - £130,000 dependant of experience - plus an indicative bonus range of 30%-60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more
Location and flexible working: London. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process.
We want to be the best place that any of our 6,600 colleagues have ever worked.
We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.
The role
We have an incredible new career opportunity to join us here at Phoenix Group to join ourStructuring Team as a Senior Pricing Structurer – Paternity Cover, embedded within our solutions business.
Structuring is a newly established team within Phoenix whose mandate covers all investment product for which there is some capital component, spanning equities, fixed income, funds, credit and alternatives. We work alongside actuaries, portfolio managers, risk and proposition teams to develop investment solutions to meet the needs of end clients and wholesale partners. In addition to product development, the team is also responsible for creating sophisticated models for capital assessment, pricing, profitability monitoring and ongoing management of our propositions.
We are seeking a Senior Pricing Structurer – Paternity Cover, where you will be working in a fast paced and greenfield environment to develop new strategies and products, and to help build on the foundations of our platform.
Key Responsibilities
- Develop and implement python-based capital and pricing models for new products, including systematic strategies and option-based structures across equities, funds, credit, rates, and alternatives in the context of insurance products.
- Lead portfolio construction and development of hedging programs to support new propositions
- Oversee calibration and validation of in-house and third-party asset models used for real-world analysis and projections and risk-neutral pricing
- Maintain the quantitative tools and models for the pricing, risk management, capital assessment and profitability monitoring of life insurance products, assets, and derivatives
- Build and implement new tools for the wider structuring team, that provide quantitative support in decision making, asset selection, deal structuring, and understanding/monitoring of risk
- Automation current manual processes for the reprice, risk management, and profitability monitoring of existing products.
- Build relationships with key stakeholders to identify and solve complex quantitative problems, while being approachable and flexible
- Support and develop junior team members
What are we looking for?
Personal Attributes
- Strong analytical, quantitative, and problem-solving skills
- A team player with excellent communication skills
- The ability to sense check numbers, perform quick “back of the envelope” calculations and build intuition over results
- Excellent communication skills and ability to build strong relationships
- A proactive, “get things done” attitude
Qualifications
- Advanced degree (Masters or PhD) or equivalent (e.g. CFA, FIA, FRM or CQF) in a quantitative subject (economics/econometrics, finance/computational finance, math, physics, engineering, etc.)
- Excellent communication skills: effective engagement with internal stakeholders across the Group and ability to simplify complex topics for delivery to different audiences.
Knowledge and Experience
Essential
- Capital modelling under Solvency II or similar regime
- Demonstrable expertise in programming with Python
- Experience building and maintaining quantitative models for Solvency II capital assessment, pricing, portfolio construction and statistical analysis of derivative or systematic, outcome-driven strategies and/or overlays to hedge risks and enhance returns
- Strong investment knowledge, across derivatives, equities, credit, interest rates and inflation
- Practical understanding of various concepts in financial engineering/quantitative finance, e.g., stochastic calculus, risk neutral/martingale methods, derivative pricing and risk, financial statistics / time-series modelling, Monte Carlo simulation, and optimisation algorithms
Desirable (but not essential)
- Prior exposure to work involving pension schemes and/or life insurance
- Knowledge of the UK insurance regulatory landscape including Solvency II and Matching Adjustment
- Knowledge of Solvency II and IFRS 7/19
- Advanced level of Excel
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
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