Actuarial Manager (Pension Risk Transfer Pricing)

We have an exciting opportunity for a qualified actuary to join our market-leading Pension Risk Transfer business as an Actuarial Manager.

In this role you will join a multi-award-winning team responsible for the pricing and execution of pension de-risking transactions. You will benefit from the guidance, experience and expertise of your fellow team members to produce buy-in and buy-out quotations in a timely, efficient and proactive manner.

You will also provide peer reviews and sign off on quotations produced by other members of the team & produce the first draft response to “requests for quotations” to ensure they are always tailored to the particular client.

This role would be ideal for someone with knowledge of Defined Benefit Pension Schemes and/or experience working at a Pension Consultancy or Life Insurer; however, we are open to candidates from other backgrounds as well.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate to help achieve a work-life balance which suits you.

What you'll be doing

• Providing bulk annuity and longevity quotes to pension schemes in a timely, efficient and proactive manner.
• Providing peer review and sign off of quotations produced by the Pricing & Execution Team & producing the first draft response to “requests for quotations” ensuring they are always tailored to the particular client.
• Keeping a consistent focus on working towards delivery against ambitious value and volume based new business targets.
• Working with Pensions Consultants to truly understand the target scheme, including any particular requirements in terms of insurer responses or insurer selection. Then working creatively throughout the quotation process to provide innovative solutions to both clients and the market that meet the customers’ needs.
• Showing the ability to propose non-standard assumptions to match the dynamics of a particular scheme and being considered an expert in the capital and pricing models in order to optimise pricing for DB schemes.
• Producing complete, succinct and transparent governance documentation to support quotations. Ensuring all quotes are produced with the highest level of accuracy and in line with Legal & General’s pricing model.
• Ensuring that the highest level of support is provided by team members to Directors, Consultants and Trustees at all times. Including providing support to Directors with their portfolio of relationships with consultants.
• Ensuring that the Pricing & Execution Team works in line with all relevant internal processes/procedures and that quality and governance remains of paramount importance throughout the quotes process. Ensuring that the principles of Conduct Risk are embedded into the day to day operations of the team and the relevant controls are in place for effective management of Conduct Risk.
• Ensuring that new business transactions are effectively handed over to the Technical Services Team upon completion.
• Acting as a role model and effectively delegating to a team of actuarial students you will be managing, with an emphasis on promoting the knowledge and career development of your team members.

What we're looking for

• A qualified actuary through the IFoA or equivalent.
• Previous experience working within a Consultancy environment, for a Life Insurer or for another De-risking provider.
• Good knowledge of Defined Benefit Pension Schemes and/or Pricing and Capital Modelling.
• Previous experience of adapting to new projects or situations by the development and implementation of new/non-standard and innovative solutions.
• Strong sales experience and/or presentation skills.
• Excellent time management and prioritisation skills
• Effective delegation and supervision of complex tasks.
• Project management skills, with a track record of leading and delivering on complex projects within short timescales.

Benefits

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.

If you join us, you’ll get access to some great benefits, including private medical insurance, 27 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You'll receive a car allowance of 12% of your annual salary, and you can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave.

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings.

Wide-ranging opportunities

Our “One L&G” ethos means you’ll be part of a truly ambitious global business. Members of our team regularly support Legal & General Retirement America and Legal & General Reinsurance. In recent years we’ve offered numerous secondment opportunities in both our New York and Bermuda offices.

We have a strong relationship with our colleagues in LGIM, the UK’s largest asset manager and LGC, our alternative assets platform, who invest society’s capital for society’s benefit, creating jobs, transforming communities, and changing lives.

About L&G

The brand with the brolly is choosing today to change tomorrow. Since 1836, we’ve grown to become one of the world's largest asset managers, homebuilders, pension providers and insurance brands.

We’re all here to improve the lives of our customers, build a better society for the long term, and create value for our shareholders - helping to shape a better future for society and the planet.

We need people who share our ambitions, agility and entrepreneurial spirit to help us do it.

At L&G, you’ll find a balance that helps you be your best. Empowered by hybrid working, we’re supported by technology and workplaces that enable us to work effectively wherever we are. We come together in offices to collaborate and connect, and use time at home for individual, focused activities. And, when we achieve great things, we celebrate our success and reward strong performance.

Today, there’s over 10,000 of us, working towards our mission, with plenty of opportunities to grow your career as we grow L&G. Will you join us?

About the business area

As the longest serving active Pension Risk Transfer (PRT) provider in the UK, we have experienced the evolution of pension de-risking since our first transaction in January 1987. It started modestly, with the creation of a small bulk purchase annuities team, but our business and the whole industry has grown significantly since then. Today, it is widely viewed as the gold standard for protecting members' benefit promises for the long-term.

We’re proud of our achievements over those 35 years; from the success of the past decade in which we’ve secured more than £50 billion of pension scheme members’ retirement income to growing our international business in the US and Canada.

During that time, we’ve completed some of the largest transactions in UK market history as well as investing over £30 billion into areas like urban regeneration, transport, housing and clean energy.

A market-leading and multi-award-winning business

We’ve written more UK buy-in and buy-out business than any other insurer. We’re the most decorated insurer in our industry: we’ve been named De-risking Provider of the Year by the Financial Times for four of the past five years, and we’ve shone individually as well. In 2022, colleagues in our business won Director of the Year, Mentor of the Year and Team Leader of the Year at prestigious industry-wide awards.

We’re excited to continue to evolve and drive innovation in the solutions we provide and the customer service we offer, supporting the pensions sector for the next 35 years and beyond.

Our commitment to Equal Opportunities

Great minds don’t have to think alike, so we welcome voices from all backgrounds. Bringing together people with different life experiences helps us build empathy with our customers and drive innovation.

We don’t just talk about it, we actively promote diversity and equitable opportunities for all. That means our employment decisions are made without regard to race, colour, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability or protected veteran status. In fact, we embrace every dimension of diversity to reflect the customers and communities we serve.

We think it’s important to create an inclusive environment where we can all belong, contribute and drive progress, where you can develop and grow, and be empowered. We want you to use your voice to help us build a better tomorrow.

Across our Group, we run a multi award-winning Diversity and Inclusion (D&I) programme that actively champions equality in all its forms. Our D&I programme offers opportunities for colleagues to get involved and help drive meaningful change

We all work differently, and have different needs, which is why. we’re always open to discussing flexible working arrangements. Likewise, we’re committed to finding reasonable accommodations for candidates with specific needs during our recruiting process.

So whoever you are, wherever you are, whatever your story, we'd love to hear from you.