Description of Business Unit

The Wealth & Insurance business comprises three key parts - New Ireland Assurance, Bank of Ireland Insurance Services and Bank of Ireland Investment Markets. The W&I business distributes savings, investment, pension, protection & insurance products to our end customers through multiple channels, including Bank of Ireland, New Ireland Financial Advisers, third party brokers & selected corporate partnerships. The Group Risk and Annuities team sits within New Ireland.

Key functions of the team include:

• Pricing of individual and bulk annuity products
• Building and delivering bespoke sales propositions
• Providing analysis and papers for Pricing Committee
• Providing regular pricing to our Distribution Partners
• Building and maintaining strong working relationships

Purpose of the role

The successful candidate will have responsibility for ensuring the commerciality of our annuity product range, for driving innovation and efficiency! We hold a leading position in the annuity market and the product is a key driver of the company's strategic sales and profitability targets.

The successful applicant will be involved in a variety of work aimed at developing and driving the strategy! This work extends to all aspects of the product lifecycle, including the product proposition, innovations, pricing and governance. The person will be expected to build key relationships both internally and externally by providing expert technical support to the wider business and key brokers.

Key Accountabilities

• Take responsibility for developing the product and proposition to ensure NIA retain a market leading position, by identifying gaps and market opportunities
• Lead, motivate and support the annuity pricing team, work closely with the team to manage and plan for tight deadlines and competing priorities.
• Maintain and develop pricing model functionality
• Make recommendations and provide insight based on analysis and investigations so that the product is adequately priced and risks appropriately managed
• Work closely with the distribution team to support them on bringing technical and pricing insights of the Annuity proposition to market
• Challenge traditional approaches to pricing to ensure New Ireland can drive competitive market advantages through a differentiated pricing approach
• Play a lead role in regular reviews of pricing basis and presentation of changes to pricing committee
• Ensure a proper control framework is in place for pricing models, legal contracts and operational aspects of the department