Job ref: 219848
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 External Risk function within the Strategy, Policy and Analysis Directorate sits as the central point for the identification and prioritisation of risks to inform our regulatory activity. The Socio-economic Risk lead will manage the compilation, assessment, prioritisation, and reporting of risks that influence members’ ability to save for retirement and their likely retirement income. This role requires a strategic thinker and influencer with a good understanding of how the wider political, economic, technological, societal, legal and environment can impact the pension landscape and vice versa.
The postholder will work closely with analytical colleagues in the Evidence and External Risk Directorate to provide the evidence base for TPR’s future policy direction and ensure we are able to influence the wider structural debate on how best to regulate the intergenerational affordability of pensions.
Responsibilities
External risk management
- Ensure TPR has a robust understanding of how socio-economic risks can impact the savers journey and the wider pensions ecosystem, performing or facilitating deep dives as appropriate.
- Support policy development to mitigate identified risks and ensure alignment with TPR's strategic goals.
- Produce or facilitate the production of high-quality risk assessments, briefings, and reports that inform decision-making at all levels of the organisation, including the Board.
- Collaborate with the innovation team to see if the mitigation of longer-term socio-economic trends can be best met through novel market solutions that nudge industry and saver behaviour.
Analysis and reporting
- Horizon scanning and monitoring of emerging societal trends that might impact retirement incomes. The role will need to identify and consider a diverse number of topics that could impact retirement adequacy of different cohorts of savers, including for example:
- geo-political risks
- tax changes and the level of public and private debt and household income
- changes to life expectancy, an aging population, and intergenerational fairness
- changes to career and family structures and automation on the workforce
- ESG policies, especially climate change risk
- competitive structure of pension provision and saver engagement
- potential legal challenges
- The role will need to undertake an initial triage of such risks, undertake or commission further analytical deep dives to recommend any policy change requirements.
- Oversee the collection and analysis of evidence related to such risks, ensuring accurate and timely reporting to senior management and the Board.
Stakeholder engagement
- Undertake cross-functional collaboration with internal teams to ensure consistent risk management practices and effective communication of external risks, including seeking better understanding of risks from those undertaking market engagement.
- Credibility to maintain effective relationships with key stakeholders with the ability to influence policy and research across government and industry.
Leadership and team management
- Ensure the external risk team works with colleagues in the wider evidence and external risk function and across the organisation to collate and identify gaps in evidence relating to the specific risks identified.
- Exhibit the expertise to positively influence practice across TPR and guide the organisation in a proactive and forward-thinking approach to risk management.
- Deputise for the Head of External Risk as appropriate.
Essential and desirable criteria
Essential criteria
- A strategic thinker with understanding of the PESTLE risks facing the UK pension system and regulatory environment.
- Strong analytical thinking skills to inform evidence-based decisions and solutions on complex problems.
- Experience of building constructive working relationships, working in multidisciplinary teams, engaging with internal and external stakeholders and delivering through others.
- Communication and interpersonal skills, with the ability to engage and influence stakeholders at all levels.
- Confident challenging prevalent thinking and robustly defending position.
- Ability to work effectively under pressure and manage multiple priorities.
Desirable criteria
- Awareness of relevant legislation.
- Understanding of systems-based practice.
Person specification
- Ability to see the bigger picture.
- Equally content leading and being a team player.
- Evidence based analytical thinker.
- Independent thinker.
- Proactive and flexible.
- Ability to prioritise and use initiative.
- Communication skills at all levels.
- Strong commitment to public service.
Salary and benefits
As well as a salary from 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 219848 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
Interviews will be taking place in the week commencing 14 April 2025 and will be held in-person at our offices in Brighton. When applying, please ensure you will be available during this time.
Current employees in their first 12 months of employment who want to apply for this vacancy should first contact their line manager to discuss their application.
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.
TPR 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.