The job requirements are detailed below. Where applicable, the skills, qualifications and memberships required for this job have also been included.
Role title: Covenant & Financial Analyst.
TPR grade & pay group: 6 Principal, Advisory
Directorate: Market Oversight
Salary: from £89,459.00 Per Annum depending on skills, qualifications and experience
Contract type: Permanent
Location: Brighton/hybrid 6 days per month in the office
The role and responsibilities
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Join the newly formed MT DC Team at The Pensions Regulator during an exciting period of strategic change.
- Support TPR’s shift toward a more prudential, engagement‑led regulatory approach.
- Work within the Market Oversight Directorate, helping manage strategic relationships with schemes and intervening when issues arise.
- Provide specialist financial and covenant analysis for Collective DC Schemes and DC Master Trusts, alongside related policy and innovation work.
- Contribute to safeguarding over £200bn of scheme assets and influencing market practices in a growing and evolving sector.
- Gain exposure to a wide range of scheme types, with potential to support work on DB schemes and consolidation vehicles over time.
- Join an organisation committed to protecting more than £2trn of UK pension savings and putting savers at the centre of its mission.
The role criteria
As a Covenant and Financial Adviser in our Defined Contribution and Master Trust Supervision team (within our Market Oversight Directorate), you will be responsible for providing specialist financial analysis advice in relation to the supervision of Collective Defined Contribution Schemes and DC Master Trusts, also working on associated policy work and other emerging areas of innovation in the marketplace, all with the aim of bringing about the most appropriate outcomes for members.
You will
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Provide financial analysis expertise to ensure the successful outcome of interventions and supervision in line with our statutory and corporate priorities and objectives, focusing on the financial sustainability of DC Master trusts and CDC schemes
- Provide analysis on the impacts of corporate activity on the viability of business planning and identifying risks within the corporate and capital structures of scheme funders and scheme proprietors, using this to contributing to the development of new supervisory strategies
- Critically assess viability of business plans for CDC and DC Master Trusts, consolidators and other emerging models when setting up and running schemes
- Provide financial input to the development of policy including secondary legislation for CDC frameworks, authorisation and supervision of DC Master Trusts, other emerging models
- Assist in the development of TPR’s operational procedures for the authorisation and supervision of CDC schemes, DC 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 decisions / negotiations / arbitrations
- Taking a leadership role in business negotiations focused on your area of expertise
- Educating and mentoring Supervisors, 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
TPR offers:
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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, Mental Health, 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.
Our culture
TPR strives to be a high-performing organisation, and we prioritise our people's growth and well-being. We offer various learning, secondment and development opportunities, support flexible working, and foster a diverse and inclusive environment.
Equality, diversity and inclusion is very important to us and we strive to make sure everyone has an equal opportunity to succeed. Our modern Brighton offices are in Telecom House overlooking Preston Park, they are over two floors of a shared building facility and when designed in 2023 we followed the government’s workplace design guide to ensure accessibility by design was achieved for our section.
We're proud to have a range of networks and opportunities to bring people together with supportive and safe spaces to connect with one another.
About The Pensions Regulator
With a career at TPR, you’ll be joining an organisation with real purpose and who are proud of their diverse range of skills and experience that positively impact on millions of people. Everyone at TPR plays an important role in helping to keep more than £2trn of savings safe.
Our Corporate Strategy outlines a bold and challenging vision of how pensions regulation should continue to evolve to keep pace with a change in the scale and nature of the pensions landscape. We believe diversity and inclusion are vital to good decision-making for positive saver outcomes. We’re committed to creating a supportive, inclusive, and dynamic work environment where everyone can thrive; understanding the link between the work we do and its positive impact on society.
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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.
Please note that TPR is unable to offer visa sponsorship. All applicants must already hold Right to Work in the UK for the duration of their employment. For more information on Right to Work, please visit Prove your right to work to an employer: Overview - GOV.UK.
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 essential criteria will be an offered an interview. Please note that if we receive a high volume of Disability Confident applicants, we reserve the right to offer an interview to those who best meet the essential criteria.
Diversity and inclusion
TPR is committed to promoting diversity, inclusion and equality in the workplace, creating an environment where everyone is encouraged to be themselves, enabling our people to feel supported, represented and do their best work.
We encourage applicants from all backgrounds and with different identities and experiences to apply for roles with TPR.
Further information
Please visit our website to find out what it is like to work at TPR, our culture, interview process and our commitment to our employees.
If you have any queries about this role, or if you have a disability and wish to request a reasonable adjustment at any stage of the recruitment process, please email [email protected].
