Pensions Actuarial & Investment Manager at Shell

What You’ll Be Doing

The Pensions Actuarial and Investment Manager is responsible for the strategic development and implementation of actuarial and investment matters for the UK linked pension plans.

The pension plans have well developed Journey Plans which target reduced investment risk and funding risk being taken over time, towards the aim of reaching self-sufficiency. The Journey Plans integrate the Covenant Assessment of a large multi-national energy company with the funding needs and investment strategy to achieve the objective. The Pensions Actuarial and Investment Manager will continue to develop the strategy to ensure it remains appropriate for the changing external environment and requirements of the plans, working with the Head of UK Pensions, Chair of the Investment and Funding Committee and Chairs of the trustee boards.

The successful candidate will be accountable for the following:

• Leading the executive support and being the Secretary to the Investment and Funding Committee for the principal UK pension plan which has around £12 billion of assets. The Investment and Funding Committee oversees the investment management of the plan, monitors the funding position and investment performance and recommends the investment strategy and funding strategy to the Trustee Board. Day-to-day investment management for the plan is undertaken by an external Fiduciary Investment manager. This role is the principal point of contact with the Investment Manager.
• Work with the external actuarial, investment and covenant advisers to ensure high quality advice is provided to the trustee boards and committees on all relevant matters. Current projects include reviewing the Journey Plan in light of the changing regulatory environment related to funding, surplus and run-on.
• Provide actuarial support to the wider Trustee Services Unit, including the in-house pensions administration team. This would include support on complex member benefit matters, working with the external actuarial advisers on scheme factors and assisting with the actuarial aspects of other projects such as GMP Equalisation.

What You Bring

The successful applicant is expected to have the following:

• Actuarial qualification (e.g. Fellow of the Institute and Faculty of Actuaries)
• Excellent knowledge of UK defined benefit pension schemes
• Deep knowledge of UK pension legislation and pension scheme funding requirements
• Knowledge and experience of external market practices and products in pensions
• Good knowledge of strategic investment matters and a wide range of asset classes
• Self-starter and effective team player
• Ability to influence, develop and lead complex matters
• Able to focus on the detail without losing sight of the broader issue or strategy
• Ability to contribute to the development of the broader Trustee Services Unit