Pensions Advisory Manager - part time or full time
Working as part of the Pension Advisory Services group within Recovery and Re-organisation. The main objective of this team is to provide a wide range of financial advisory services to trustees and corporate sponsors of pension schemes. This role provides an excellent opportunity for individuals with general advisory experience to further their advisory and business development skills in a growing niche market.
You will be responsible for co-ordinating and conducting a variety of covenant reviews for both trustees and sponsoring employers of, principally, defined benefit pension schemes, to identify the options and actions available to them to ensure the scheme is appropriately funded. These covenant reviews will primarily be undertaken to support one of the following circumstances:
• Scheme Specific Funding Valuation : A covenant assessment will review the viability of the Scheme's sponsoring employers by considering their historic, current and future trading profile and identifying the key risks and issues that could affect their on-going profitability. In addition, a covenant review will need to consider the ability of the sponsoring employers to meet the future liabilities arising from the scheme and to make an assessment as to how quickly any past service deficit can be repaid. Our reviews provide Trustees with an assessment of the employers' covenant strength and the options available to enhance the Scheme's position as necessary. In formulating this advice you need to be able to work closely with the management teams of the respective employers, the Trustees and their respective advisors.
• Corporate transaction or restructuring : any transaction or restructuring that affects the Scheme's employers could change the strength of the covenant. In these circumstances our covenant review work looks to establish the potential level of any financial detriment arising from transaction. To do this a covenant assessment, both pre and post the transaction, will need to be carried out, based on the likely recovery the Scheme may receive from an assumed insolvency event. Our advice will consider the potential level of mitigation available to compensate the Scheme for any change in the covenant and the form this mitigation could take ie cash, a charge over assets, guarantees etc. In addition, we provide the Trustees with pro-active advice and in any negations necessary with the respective employers.
We are a flexible employer and can offer a range of flexible working patterns from part to full-time, as well as working from home.
Location is also flexible for this role.
Who we are:
Grant Thornton is a leading Advisory firm working with a large range of clients across the UK. We are a leading business adviser that helps dynamic organisations unlock their potential for growth. We have created our own unique culture, one that allows you to have the autonomy to make your own decisions within a flexible structure, in an atmosphere where inclusivity and teamwork are essential. Our clients are proud to work with us and we are proud of our position in our local and regional markets and the reputation we have developed not just for the excellence of our client work but, as importantly, for the culture of our team.
Why Pensions Advisory?
We have participated in over 400 covenant review and transaction-based assignments over the last ten years, working closely with the Pensions Regulator (tPR) and the Pension Protection Fund (PPF), where on-going secondment programmes have given us a unrivalled insight into how they work. We have also acted as lead advisers on ground-breaking pension-centric corporate restructurings (including Uniq, Kodak and UK Coal) where we instigated innovative solutions to complex problems.
In addition to our covenant work our Services include Actuarial and scheme de-risking, Pension scheme restructuring, Pension scheme transaction advisory, PPF Levy management, Scheme funding advisory and Pensions assurance.
We are looking for enthusiastic individuals who want to move into an, or develop their existing Advisory role. We can offer excellent training in pensions as well as personal development opportunities with potential secondments available to the Pensions Regulator or the Pension Protection Fund
What you’ll be doing:
As an Manager you will be taking the lead with clients, from engagement to completion. You will be contributing to the growth and development of the Pensions Advisory team as well as mentoring and managing more junior members of the team.
Who we're looking for:
We are looking for individuals who want to unlock their potential whilst reviewing businesses of substance for pension schemes, which are key financial stakeholders in many businesses. You will also have excellent communication, report writing and analytical skills. Although proven experience in developing and mentoring more junior members of staff as well as leading on client engagements would be helpful it is not essential as these skills will develop as your career develops.
If you are interested in developing a career, reviewing businesses on substance then please apply!