Pensions Covenant Adviser

Pensions Covenant Adviser

Job Title: Pensions Covenant Adviser
Contract Type: Permanent
Location: London
Salary: £50000 - £80000 per annum, Benefits: Car, pension, typical exec benefits
Start Date: 2018-08-08
Reference: IGBWDCOV3
Contact Name: Iain Garfield
Contact Email:
Job Published: August 08, 2018 11:34

Job Description

Are you a pensions actuary that is wondering if you are in the right part of the market?  Being tempted to consider alternative options for your skillset such as Life or General Insurance actuarial work?

Don't throw away your pensions experience and knowledge to take a step back in your career, as there are other routes that will leverage this within an exciting growth advisory market.

Our client is a global consultancy whose covenant advisory team is growing exponentially as a result of far greater focus from the Pensions Regulator, and high profile sponsor collapses e.g. BHS and Carillion.  

The Role

• Business reviews to assess the strength and risks of the Sponsor covenant 
• Analysing financial forecasts and Sponsor affordability 
• Assessing the position of competing stakeholders including a review of debt structures
• Considering the outcome to creditors, including the scheme, in a distressed scenario
• Reviewing transactions and corporate restructuring to assess their impact on the Sponsor
• Identifying alternatives to cash funding

• Assisting with project strategy
• Support the Senior Consultants within the covenant team

• Advise pension trustees and corporates on issues relating to employer covenant
• Preparing reports for trustees and corporates
• Responding to client queries
• Leading on smaller clients and simple queries
• Supporting on larger clients and complex queries
• Supporting strategies for growth of the covenant offering

This is a huge growth sector within the pensions market, with a number of the larger consultancies setting up teams, as well as a number of boutique firms making the most of the likely requirement of all schemes to carry out full independent covenant reviews, even for those whose sponsors are not in financial distress.

You will need at least 3 years pensions actuarial experience, although they will consider qualified actuaries, and tose with some Covenant Advisory experience already in the bank.