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Actuarial Manager

We have an exciting opportunity for a qualified actuary to join the post-sale team within our market-leading Pension Risk Transfer business as an Actuarial Manager. As an Actuarial Manager in our Collateral & Reinsurance Management (CRIM) team you will manage the on-boarding and on-going management of internal and external reinsurance arrangements and longevity insurance policies, with post-sale actuarial support provided across all PRT deals.

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:

  • Actively supporting the Co-Heads of CRIM to ensure that contractual requirements of reinsurance arrangements and longevity insurance policies are correct and run in-line with the defined timescales.
  • Building and maintaining effective working relationships with our reinsurance counterparts, or, in relation to longevity insurance policies, our Trustee counterparts.
  • Working collaboratively with a range of internal teams to support the range of processes arising between the time new business is won and collateral calculation and posting processes are established.
  • Continually driving forward/improving the knowledge and understanding of personnel by identifying and ensuring the provision of appropriate training.
  • Providing approval for payments relating to longevity insurance, collateralised buy-ins & reinsurance agreements.
  • Developing processes to ensure that the management of longevity insurance and reinsurance agreements is increasingly efficient.
  • Ensuring that work carried out adheres to an appropriate risk management and control framework.
  • Taking the lead on actuarial support across PRT deals. This includes being responsible for the completion of Final Premium costings, buy-in policy valuations and any restructures of insured benefits.

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.
  • Strong stakeholder management and communication skills.
  • Extensive knowledge of Defined Benefit Pension Schemes including current de-risking solutions.
  • Project management skills, with a track record of leading and delivering on complex projects
  • Strong networking skills, with the ability to build relationships and interact effectively at all levels across the business.


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.

About L&G:

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.

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.

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⛔️ Legal & General are no longer taking applications for this job.

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