Job ref: 206281
TPR grade: Grade 6 - Principal
About us
More than half the UK working population rely on The Pensions Regulator (TPR) to regulate their retirement savings. With a career at TPR, you’ll be joining an organisation that will impact on millions of lives for decades to come.
Everyone at TPR plays an important role in helping to keep more than £2 trillion of savings safe. We’re committed to bringing people into TPR who are ready to make a difference and put UK savers at the heart of what we do.
It is important to us that TPR remains a great place to work. We do all we can to help our people reach their full potential with learning, secondment, and development opportunities. We put our 900+ employees first, supporting flexible working and offer a diverse, lively, and inclusive environment. This includes our Disability Network, Family Network, LGBT+ Network (Proud), Minority Ethnic (ME) Network and Women’s Network, which offer spaces to connect.
Our new corporate strategy outlines a bold and challenging vision of how pensions regulation should evolve to keep pace with a change in the scale and nature of the industry. We are at the start of that journey. Join us to find out what part you can play.
We operate a hybrid working model, with regular attendance in our Brighton office to connect with colleagues across the business.
Role
The secondee will work within our covenant and financial analysis team primarily providing specialist covenant and financial analysis. They will include providing advice in relation to interventions and supervision of DB pension schemes, DC Master Trusts, consolidation vehicles, and other emerging areas of innovation in the marketplace with the aim of bringing about the most appropriate outcomes.
Responsibilities
The main responsibilities will include.
- Providing covenant and financial analysis expertise to ensure the successful outcome of interventions and supervision in line with our statutory and corporate priorities and objectives.
- Supporting effective negotiations concerning pension liabilities in corporate transactions in order to protect savers benefits.
- Reviewing recovery plans with emphasis on affordability, sustainable employer growth and cash management.
- Developing scheme funding plans for high-risk schemes in conjunction with scheme trustees.
- Taking a leadership role in business negotiations on recovery plans.
- Analysing impacts of corporate activity and contributing to development of new strategies.
- Providing risk-based advice and analysis to project and case teams with specific, technical analysis and recommendations to assist clearance decisions / negotiations / arbitrations.
- Assist in the development of TPR’s operational procedures for the authorisation and supervision of Master Trusts, Consolidators and other emerging models.
- Critically assess viability of business plans for Master Trusts, consolidators and other emerging models.
- Contributing to constructive and useful learning on intervention approaches to the team and wider organisation.
- Educating and mentoring case managers and team members on corporate financial and operational analysis and normal business practices.
Essential criteria
- Understanding of TPR guidance for employers and trustees of DB schemes.
- High level of experience actively advising defined benefit pension scheme trustees on complex covenant assessments for the purpose of funding valuations.
- Industry sectors knowledge and strong experience / commercial awareness.
- Corporate financial structures including familiarity with typical debt and equity terms.
- Deep understanding of fundamentals of covenant assessment.
- High level knowledge of valuation methodology of UK defined benefit pension scheme liabilities.
- Key issues in the UK DB pensions environment and strategic trends.
- Business valuation approaches and techniques.
- Corporate structuring / re-structuring.
- Knowledge of mergers and acquisitions.
- Deal structures and financing.
- Financial analysis skills.
Person specification
- Strong communication – written and oral.
- Influencing and negotiation.
- Analytical / problem solving.
- Investigative.
- Time management and delivery.
- Interpersonal.
- Attention to detail.
- Assimilation of information.
Salary and benefits
As well as a salary starting from £56,498, we offer:
- Civil Service Pension arrangements, which are recognised as some of the best in the pensions world
- discretionary bonus arrangements
- access to performance related pay progression
- 25 days annual leave provision
- flexible working arrangements
- development opportunities
- enhanced parental leave arrangements
- a free employee assistance programme
- an excellent office location in Brighton
How to apply
To apply please email recruitmentteam@tpr.gov.uk quoting role reference number 206281 along with:
- a covering letter with details of how your skills and experience meet the role requirements
- a copy of your CV
- details of your notice period
We are an inclusive employer and offer equal opportunities regardless of an individual’s age, disability, gender identity, marriage or civil partnership status, pregnancy or maternity, race, religion or belief, sex, and sexual orientation.
As a Disability Confident employer, we’re committed to the recruitment, employment, retention, and development of people with disabilities, and to improving their employment opportunities. Candidates who declare that they have a disability and who meet the essential criteria for the job will be offered an interview.
In accordance with Home Office guidance, the successful candidate will be required to provide their right to work in the UK before they start employment. Unfortunately, TPR is not able to offer sponsorship at the time. TPR is a UK-based organisation with a working location in Brighton, candidates must live in the UK to be employed by us.
The Pensions Regulator is an arm’s length government body and part of the public service.
Any offer of employment will be subject to the receipt of satisfactory background screening checks and criminal record checks (BPSS).
If you have any queries about this role, or if you have a disability and wish to request a reasonable adjustment at any stage of the recruitment process, please email recruitmentteam@tpr.gov.uk.