Assistant Commercial Actuary (Lifetime Mortgages)

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor. We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Retail supports the savings, protection, and retirement needs of around 14 million people through our portfolio of retail and workplace businesses. Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages, and financial advice on our range of lending products.

We are the UK’s number one individual life insurer and also provide Group Protection products for employers, helping people to plan for the unexpected. We support home buying through our Mortgage Club and our award-winning Surveying Services team. Our fintech team finds and supports socially useful start-ups and scale-ups working in the workplace, home, insurance, and wealth areas.

Joining us means helping create brighter financial futures for all our customers.

Job Description

We're currently recruiting for an Assistant Commercial Actuary to join our dynamic Lifetime Mortgage Pricing Team. In this role, you will support the commercial management of our Lifetime Mortgage business by contributing to innovative solutions and maximising Group value.

This is a hybrid working opportunity which means you can split your working week between your home and our central London office to find a work/life balance that works for you.

What you'll be doing:

• Supporting the design and delivery of pricing strategies in collaboration with stakeholders to gain competitive advantage.
• Identifying and developing variants of existing LTM products to better manage the risk profile.
• Working closely with lenders to deliver new product initiatives, focusing on financial business cases, risk management, and developing pricing and reporting models.
• Monitoring and managing the risk profile of all LTM portfolios, implementing techniques for improving risk selection.
• Collaborating with key stakeholders to determine pricing strategies, rating, and capital treatment of new products.
• Ensuring business processes and internal controls deliver good customer outcomes and align with Treating Customers Fairly (TCF) principles.
• Contributing to discussions on potential changes to product design to better meet customer needs.
• Supporting work on international markets, including Dutch retirement lending.

Qualifications

Who we're looking for:

• A nearly/newly qualified actuary (via the IFoA or equivalent institute) with relevant work experience.
• Excellent knowledge of actuarial techniques and awareness of relevant regulations, including Solvency II.
• Experience in lifetime mortgages and/or pricing is desirable (but not essential).
• Strong communication skills with the ability to present results clearly to various stakeholders.
• Demonstrated achievement drive and flexibility in adapting to change.
• Strong analytical and judgement skills with a focus on customer orientation.
• Commercial awareness and creativity in problem-solving.
• Commitment to continual professional development and high standards of business ethics.

Benefits

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you.

• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes.
• Generous pension contribution.
• Life assurance.
• Healthcare Plan.
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday.
• Competitive family leave.
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax-efficient salary sacrifice (permanent employees only).
• Discounts for our own products and at a range of high street stores and online.

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences.

Guided by leaders with integrity who care about your future and wellbeing, you will be empowered through initiatives that support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time, and job shares.

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential, and connection to our purpose.