---
title: 'In-Force Management at Rothesay'
canonical: 'https://feeny.ai/job/in-force-management-rothesay-london-c2vm9kr1723g'
type: 'job'
last_seen: '2026-09-26'
---

# In-Force Management at Rothesay

- **Company:** Rothesay
- **Location:** London, United Kingdom
- **Posted:** 2025-07-14
- **Last confirmed live:** 2026-09-26
- **Apply:** https://job-boards.greenhouse.io/rothesaylife/jobs/8066806002

## Job description

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £74 billion of assets under management, we secure the pensions of nearly one million people and pay out, on average, approximately £355 million in pension payments each month.

Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury’s, the Civil Aviation Authority, the Co-Operative Group, National Grid, NatWest, Morrisons and Telent.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

Job title:           In-Force Management

Scheme Transition work

- Review data from pension scheme
- Work with the transition team and the pension scheme advisers to resolve any issues or queries
- Ensure compliance with contractual requirements for data cleansing actions
- Where relevant, calculate premium adjustment, in line with approach set out in the contract
- Work with RL third party administrators and in-house teams (as applicable) to set up scheme database, including coding of calculation routines and payroll reconciliations
- Set up RL valuation system to receive data from administrators and update modelling
- Explain the move in value as a result of data or modelling updates
- Work with pricing team to understand any benefit and/or data complications
- Monitor monthly updates, to ensure accurate modelling and administration
- Provide input to transition team in production of Individual Policy documents, ensuring proper benefit descriptions

Longevity swap data cleanse

- Construct updated data files for the reinsurers to reflect cleansed data
- Update the fixed cashflows underling the longevity swap to reflect the new data
- Explain the move in value between the old and new fixed cashflows, reconciling to data changes
- Ensure compliance with contractual requirements for data cleansing actions
- Update trade bookings and explain any moves in value

GMP equalisation

- Check implementation of GMP equalisation as calculated by the pension scheme
- Manage implementation of ongoing calculations with administrator

Ad-hoc

- Work on projects with pricing & reinsurance team, relating to backbook liability and reinsurance deals
- Validating individual records and data
- Independent reviews of trade bookings (liability and reinsurance)
- Complying with and checking adherence to contractual requirements
- Due diligence exercises in relation to new deals or backbook deals proceeding to buyout
- Monitor and control reserve balances, ensuring continued appropriateness, and take actions to ensure accuracy
- Actuarial support for ad-hoc backbook initiatives such as option exercises

Individual calcs

- Implementing calculation routines on in-house systems
- Checking results of internally/externally produced calculations

## Skills & Experience

- Experienced pensions actuarial work
- Actuarial qualification desirable but not mandatory
- Mature decision-maker
- Problem solver
- Eye for detail
- Happy to take on big projects
- Persistent
- Self-motivated
- Likes to improve efficiency

Rothesay competencies

- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
- Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
- Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations

Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.

Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

## About Rothesay

## Company Overview
- **One-liner**: Rothesay is the UK’s largest pensions insurance specialist, securing the pension benefits of nearly one million people through bulk annuity buy-ins and buy-outs.
- **Entity Type**: Private (owned by institutional investors GIC and MassMutual; valued at £5.75bn in September 2020)
- **Headquarters**: London, United Kingdom
- **Founded**: 2007 (founded by Blackstone)
- **Founders**: Not publicly disclosed; originally a Blackstone portfolio company

## Core Business
- **Primary industry**: Pensions insurance / risk transfer
- **Target customers**: UK defined-benefit pension schemes (trustees and sponsors) – enterprise B2B
- **Mission/purpose**: “To secure the future for every one of our policyholders, defined by absolute focus on security, real-time risk management, and a meticulous approach.”

## Products & Services
- **Bulk Annuity Buy-Ins / Buy-Outs**: Insurance contracts that transfer pension scheme liabilities to Rothesay, securing members’ benefits. The company has completed some of the largest UK transactions, including a £12bn reinsurance deal with Prudential (2023) and a £4.7bn full buy-out of the GEC 1972 Plan (2024).
- **Pension Risk Transfer Advisory**: As a specialist, Rothesay works directly with pension schemes to design de-risking solutions.
- **Asset Management**: Over £73bn assets under management, invested with a risk-averse, safety-first approach.

## Market Standing
- **Valuation/Market Cap**: £5.75bn (valuation as of September 2020, when GIC and MassMutual acquired Blackstone’s stake)
- **Key Metric**: £73bn+ assets under management; new business premiums of £5.2bn in 2025 (down from £12.7bn in 2023)
- **Notable Investors/Partners**: GIC (Singapore sovereign wealth fund) and MassMutual (US mutual life insurance company) are joint owners
- **Growth Signals**: 
  - Nearly one million pensions protected (surpassed after acquiring Scottish Widows’ bulk annuity portfolio in March 2024)
  - Completed 12 de-risking transactions in 2023, one of its strongest years
  - First insurer to achieve PASA accreditation for policyholder experience
  - Launched a Net Zero by 2050 pathway and published annual ESG reports

## Competitive Advantages
- **Scale and expertise**: Largest specialist insurer in the UK bulk annuity sector, with a track record of executing the biggest and most complex transactions.
- **Risk management culture**: “Security is our first priority” – a risk-averse investment philosophy and real-time risk monitoring.
- **Operational excellence**: High customer satisfaction (96% of policyholders rated service “good” or “excellent” in 2025) and regulatory trust.
- **Proprietary technology**: Uses quantitative and data-driven approaches (e.g., roles for Quantitative Engineers, StratOS Developers) to price and manage risk efficiently.

## Strategic Focus
- **Continued market leadership**: Pursue further large-scale pension risk transfer deals (e.g., £5.2bn new business in 2025).
- **Net Zero commitment**: Transitioning investment portfolio to net-zero greenhouse gas emissions by 2050.
- **Expansion through acquisitions**: Acquired Paternoster (2022) and MetLife Assurance Limited (2018) to grow the in-force portfolio.
- **Talent and innovation**: Recruiting quantitative and tech talent to build internal platforms like StratOS.

## Why Work Here
- **Culture**: Described as “multi-talented, multi-disciplined” with a focus on “original thinking, real care.” The company values collaboration, creativity, and rigour.
- **Work policy**: London-based office roles; hybrid likely (not explicitly stated, but roles list London location). Onsite gym available.
- **Benefits**:
  - 25 days annual leave (rising to 28 after 5 years)
  - Non-contributory pension of up to 11%
  - Enhanced parental leave (including fertility support and neonatal care)
  - Private health insurance (UK cover including dental)
  - Virtual GP service (Doctor Care Anywhere)
  - Cycle to Work scheme (up to £10,000)
  - Wellness subsidy (onsite gym or Gymflex)
  - Emergency family care
  - Speaker series with world-leading experts
- **Engineering/career development**: Graduate and internship programmes; roles in quantitative engineering, senior infrastructure, data science, and actuarial. Emphasis on ability over years of experience.

## Sources
1. [rothesay.com](https://www.rothesay.com/about-us/) – About Us, history, key metrics, ESG
2. [rothesay.com](https://www.rothesay.com/about-us/working-here/careers/) – Careers overview, graduate programs
3. [rothesay.com](https://www.rothesay.com/about-us/working-here/) – Benefits and culture
4. [greenhouse.io](https://boards.greenhouse.io/rothesaylife) – Current job openings (10 roles)
5. [rothesay.com](https://www.rothesay.com/about-us/working-here/careers/open-positions/) – Detailed job listings

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- [Alternative Credit Analyst](https://feeny.ai/job/alternative-credit-analyst-rothesay-new-york-dpkp87a1adn5) — New York, NY
- [Pricing Actuary](https://feeny.ai/job/pricing-actuary-rothesay-london-cfnsxk52e16j) — London, United Kingdom