Pension Protection Fund
Job Description
The Pension Protection Fund was established to pay compensation to members of
eligible defined benefit pension schemes, when there is a qualifying insolvency event
in relation to the employer and where there are insufficient assets in the pension
scheme to cover Pension Protection Fund levels of compensation.
Job Title
(permanent
/ or temp)
Risk Analyst
Department
Risk Practice
Directorate
Financial Risk
Reports to
Level / Band
TBC
(Permanent role)
Senior Risk
Analyst
(Insolvency and
Investment
Risk)
People
Management
Budget
Responsibility
No
Key contacts internal/ external
Internal
External
None.
- None.
- None.
General Description of the Job
Provide wide ranging support to the activities of the Risk Practice. Research the
investment, economic and insolvency risks to the PPF. Support the risk management
of the investment approach, off-balance sheet risks and third party risk functions.
Provide analysis to support hedging actions and scenario/what-if analysis. Support
data requests and analysis of first line of defence changes.
Main Duties of the Job
1.
2.
3.
4.
5.
Provide summarised research material on the latest thinking in investment,
economics and insolvency where this affects the risks to the PPF, i.e. where it
affects the risks articulated in the PPF’s risk policies, or identifies emerging risks
that require the risk policies to be updated.
Support the understanding, review and challenge of the investment approach.
Carry out the development and maintenance of the investment risk library.
Support insolvency risk management for the Risk Practice, including preparing
top 500 exposures, insolvency advice and insolvency dashboards.
Prepare committee papers (e.g. for ALCo/AAMG/Economic briefings) with the
guidance of other members of the Risk Practice team.
Support the review of risk functions of fund managers and other relevant third
parties to ensure the risks to the PPF are effectively managed by third party
Job Description Final January 2012[Type text]
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6.
7.
8.
9.
suppliers.
Prepare responses to internal data requests, with guidance from other members
of the Risk Practice team. (E.g. Preparing FRM’s contribution to the CEO’s report)
Review material risk related changes in first line of defence operations, with
guidance from other members of the Risk Practice team.
Provide analysis for mitigating actions required to mitigate identified risks.
Support the identification of material risks to the PPF via regular horizon
scanning and scenario/’What-if?’ analysis. Carry out the development and
maintenance of the economic scenario library that facilitates the management
and identification of the biggest economic risks to the PPF.
Key Competences Required
Competence
1.
2.
3.
4.
5.
6.
7.
8.
Shaping the
future
Commitment to
Stakeholder
Continuous
Improvement
Making things
happen
Goal orientated
Takes
responsibility
Working
collaboratively
Working together
Level A,
D or
E
Example of Behaviour
D
Updates customers (members/stakeholders)
on progress against agreed deadlines and
manages their expectations.
Responds positively and implements changes
where the need to improve has been
identified.
D
E
E
E
Develops self and
others
Working Style
Personal
proficiency
D
Lives PPF values
D
D
Ensures self/team accomplish goals and
achieve required results to quality and
productivity standards.
Acknowledges roles and parts played by self
and others and identifies where tasks are
failing, taking action to correct or raise issues.
Promotes partnership and collaborative
working in, and across, teams.
Identifies and seeks out opportunities to
extend own skills and knowledge.
Engages with those outside of immediate
area/team to communicate specified results or
respond to requests for information.
Shows commitment and energy and responds
positively to requests for help and support.
Person Specification
Below are the
qualifications,
experience, skills
and knowledge that
are required by an
individual to
Essential
Job Description Final January 2012[Type text]
Desirable
Page 2
successfully
undertake the job.
Qualifications or
equivalent
experience
Graduate level
qualification in
financial/quantitative
discipline.
Excellent communication
skills, written and verbal.
Skills
Advanced IT skills.
Ability to work effectively
with internal and external
relations.
Strong numeracy skills.
Ability to plan work, deal
with conflicting priorities
and meet deadlines.
Quantitative methods.
Knowledge
Understanding of financial
markets and credit rating
methodology.
Investment product
knowledge.
Experience with
Bloomberg, Datastream
and eViews.
Portfolio management and
Asset Liability
Management, including the
management of collateral.
Some DB focused pensions
knowledge.
Good understanding of the
nature of pension liabilities.
Some DB focused pensions
knowledge.
Acknowledgement
This job description has been designed to indicate the general nature and level of
work performance by employees within this post. It is not designed to contain or be
interpreted as a comprehensive inventory of all duties, responsibilities and
qualifications / experience required by employees assigned to the role. These may
therefore be subject to future amendments following appropriate consultation.
Approved
by:
Reviewed
by:
Job title
Risk Practice
Leader
Executive Director
of Risk
Date
Job Description Final January 2012[Type text]
Page 3
Jobholder’s
signature:
Job Description Final January 2012[Type text]
Page 4