Calculations Actuary (Defined Benefit Pensions)

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, UK and US life insurance, and UK workplace pensions and retirement income.

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market since 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes, and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement, help companies settle their pension liabilities, and enable investment for the long term to back our pension promises.

Job Description

Due to continued growth in our award-winning Pension Risk Transfer business, we are seeking a number of Qualified Pensions Actuaries to join our PRT Client Services function as a Calculations Manager.

As a Calculations Manager, your main responsibility will be to provide subject matter expertise and support to the team in relation to manual calculations, complex benefit structures, and any other technical aspects pivotal in ensuring the smooth administration and ongoing management of our Defined Benefit Pension schemes.

This role would be ideal for someone with demonstrable technical DB pensions experience, who is also a strong communicator and enjoys working as part of a high-functioning team that delivers great outcomes for our customers every day.

This is a hybrid working opportunity, allowing you to split your working week between your home and our Glasgow offices to find a work/life balance that works for you.

What you'll be doing:

• Taking responsibility for checking individual Defined Benefits quotations and non-standard communications to ensure efficient administration and claims service.
• Utilising your technical expertise and knowledge to lead on projects/initiatives and process improvement work.
• Leading on and facilitating additional activities such as valuations, data updates, and bulk transfers as required.
• Acting as an SME & technical expert for the team by managing the end-to-end onboarding process of new DB Pension schemes.
• Supporting the ongoing growth of our PRT business by creating efficient, effective & compliant processes.
• Producing and analysing regular MI to ensure the quality of our customer outcomes.
• Supporting the Team Manager with the development of the wider Calculations Team through the provision of training and guidance.

Qualifications

Who we're looking for:

• A Qualified Pensions Actuary with demonstrable experience/knowledge of DB Pension Schemes.
• A detailed understanding of Defined Benefit Pension schemes and the related legislation.
• Excellent customer orientation, including the ability to maintain effective relationships with both internal and external customers.
• Ability to prioritise own workload while ensuring the needs of the wider team and business area are met.
• A strong understanding of the potential risks the calculations team faces and actively taking steps to reduce and mitigate these risks.
• Excellent communication skills (both written and verbal), including the ability to positively influence stakeholders and customers.
• Ability to provide an accurate and cost-effective service by “getting it right first time” and actively supporting/training others within the team.
• Proven ability to deliver solutions to technical and business problems.

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.
• 27 days holiday, plus public holidays, with the option to buy and sell holiday.
• Competitive family leave.
• Participate in our electric car scheme, offering employees the option to hire a brand-new electric car through tax-efficient salary sacrifice.
• Discounts for our own products and at a range of high street stores and online.
• Redesigned workspaces that promote connection and collaboration.

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 career development and excellence.

We care passionately about outcomes rather than attendance and are open to discussing 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.