Location
AEGON Lochside Crescent, Edinburgh Park, Edinburgh

Company
AEGON UK

Department
Shareholder Value

Closing Date
Thursday 28 August 2008

Target Salary
Dependent on experience

AEGON is one of the largest global pensions and investment providers, we currently have a vacancy for a Head of Annuity Development within the Shareholder Value team. We are seeking a self motivated industry expert to help us achieve our ambitious plans for the future of AEGON UK. This position would suit someone who is looking for the next step in an already impressive career, or someone who is looking to use their extensive skills within a forward thinking and innovative organisation.

Brief Description of the Department:

The role of the Shareholder Value team is to support the CFO in major projects of strategic and financial significance to AEGON UK and to oversee the pricing of all products within AEGON UK. This includes setting premium rates, profitability analysis, support on proposition development and negotiation of reinsurance terms. In addition the department provides support to the Chief Executive Officer and Chief Financial Officer on financial and strategic projects and development programmes, including capital maximization, corporate restructuring, yield enhancement and the financial aspects of mergers and acquisitions work.

Responsibilities:

The Head of Annuity Development is responsible for the pricing strategy, proposition development and recommending the pricing for all annuity and non linked longevity products within AEGON UK, as leading the two annuity pricing teams. This includes making appropriate recommendations for pricing decisions on annuity products in conjunction with the Head of Shareholder Value and business unit MDs.

Requirements:

• manages the Annuity Pricing Actuary and Group Annuity Development Actuary, this includes reviewing proposals for product development, and pricing, ensuring each proposal maximises value for AEGON UK, and is consistent with strategic goals
• provides support and advice to senior management elsewhere in the business on issues relating to longevity, annuities and profitability
• provides drive behind the shareholder forum in ‘at retirement’, advising the MD of ‘At Retirement’ on all aspects of financial risk, profitability and other shareholder issues relating to annuities
• provides a day to day involvement proposition development for longevity products to be launched into UK ensuring products are designed to meet customer needs and ensure maximum value generated for AEGON UK with acceptable levels of risk
• contributes to the Business Plan development for Individual and Group annuities, monitoring performance and highlighting issues and risks to the relevant business unit MD (group or individual) and head of OCFO
• develops a detailed understanding of the distribution landscape to allow more effective decision making by holding regular meetings with sales teams for group and individual annuities
• provides support to sales by being a product expert
• contributes to the management team of shareholder value, and wider finance management team, to continue to develop shareholder value into a world class pricing function, as well as providing overall leadership to the annuity pricing area

Essential:

• well developed communication skills with the ability to communicate complex actuarial concepts to a wide audience
• strong interpersonal skills with the ability to influence, and communicate effectively with managers at all levels
• creative problem solver with sound commercial judgment

Desirable:

• knowledge of the product development process
• understanding of key performance measures used in AEGON UK

If you are selected to progress, you may be contacted by Resource Solutions, our recruitment partner, who conduct our initial screening interviews on our behalf.

Please MS/HAD/140808 in all correspondence.

Contact Details:

Michael Smith
HR Resourcing
AEGON UK
AEGON Lochside Crescent
Edinburgh Park
Edinburgh
EH12 9SE

Or email direct to recruitment@aegon.co.uk