Covenant & Financial Analyst

Job summary

You will provide specialist covenant and financial analysis advice in policy related work and in relation to interventions and supervision of DC Master Trusts, DB pension schemes, consolidation vehicles, and other emerging areas of innovation in the marketplace with the aim of bringing about the most appropriate outcomes.

This is a great opportunity to get involved in a wide range of work, influencing market practice and gain exposure to both DB and DC schemes. You will be responsible for the following.

Job description

The role and responsibilities

• Provide 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
• Analysing impacts of corporate activity and contributing to development of new strategies
• Critically assess viability of business plans for Master Trusts, consolidators and other emerging models
• Provide financial input to the development of policy including secondary legislation for Funding, NE’s, authorisation and supervision of Master Trusts and other emerging models
• Reviewing recovery plans with emphasis on affordability, sustainable employer growth and cash management
• Assist in the development of TPR’s operational procedures for the authorisation and supervision of Master Trusts, Consolidators and other emerging models Providing risk-based advice and analysis to project & case teams with specific, technical analysis and recommendations to assist clearance decisions / negotiations / arbitrations
• Developing scheme funding plans for high-risk schemes in conjunction with scheme trustees
• Taking a leadership role in business negotiations on recovery plans
• Educating and mentoring case managers and team members on corporate financial and operational analysis and normal business practices
• Contributing to constructive and useful learning on intervention approaches to the team and wider organisation.
• Contributing where relevant to best practice advice.

Person specification

Essential Criteria

• Experienced corporate banking, insurance or accounting advisory professional

• Relevant professional qualification (ACIB, ACA, CFA etc)

• Deep understanding of fundamentals of covenant assessment and/or credit analysis

• Business valuation approaches and techniques

• Corporate structuring / re-structuring

• Mergers and acquisitions

• Deal structures and financing

• Financial analysis

• High level knowledge of valuation methodology of UK defined benefit pension scheme liabilities

• Key issues in the UK DB pensions environment and strategic trends

Other desirable criteria are:

• Working in or with large financial institutions

• Understanding of Prudential Risk frameworks

• Experience of M&A in financially regulated sectors (and/or post transaction integration)

• Understanding of FCA/PRA regulatory landscape (i.e. Solvency II / ICARA)

• Regulatory market oversight.

This role is ideal for someone who:

• Is passionate about helping people.

• Has strong communication skills and attention to detail.

• Enjoys working in a supportive and engaging team.

• Can learn and use a variety of systems.

• Delivers exceptional customer service.

Benefits

Alongside your salary of £89,459, Pensions Regulator contributes £25,916 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

The team

TPR offers:

• Genuine opportunities for learning and development.
• A values-led, inclusive environment.
• Hybrid working and flexible shift patterns.
• A vibrant workplace with employee networks (Disability, Family, LGBT+, Minority Ethnic, Women’s).

Reward and benefits

We offer 25 days annual leave plus bank holidays, a hybrid working model, 35 hour working week (full-time), flexible working patterns, and flexitime. We also provide competitive parental leave, as well as a Civil Service Pension with an average employer contribution of 28.97%. Our dedicated benefits portal (Edenred) offers retail, gym, tech and restaurant discounts, and a cycle to work scheme.

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

Applications

To avoid disappointment, we would invite you to submit your application as soon as possible, as we reserve the right to close the vacancy early if a high volume of applications are received. This is to ensure that we can continue to provide a positive candidate experience, with each application being reviewed and considered. Unfortunately, once a vacancy has closed, we are unable to consider further applications.

Current TPR employees who want to apply for this vacancy should first contact their line manager to discuss their application.

We welcome applications on a part time and job share basis.

Selection and interview

If you are shortlisted for interview, we’ll be in contact with you shortly after the closing date. We aim to respond to every application however due to the large volume of applications this is not always possible. If you have not heard from us within 21 days of submitting your application, please assume you have been unsuccessful on this occasion.

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 criteria outlined in the ‘what you will bring’ section will be offered an interview.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

Please note this Post is NOT regulated by the Civil Service Commission.The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

• Name : Recruitmentteam@tpr.gov.uk
• Email : Recruitmentteam@tpr.gov.uk

Recruitment team

• Email : Recruitmentteam@tpr.gov.uk