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Legal & General

Longevity Risk Actuary (12 Month FTC)

⛔️ Closed

🇬🇧 UK

💰 £80k-£95k


⛔️ Closed

3mo ago

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Legal & General

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Longevity Risk Actuary (12 Month FTC)

Your role at a glance:

Please Note this role is a 12 Month Fixed Term Contract position (Maternity Cover)

Are you an experienced qualified Actuary with strong commercial awareness and/or experience of assumption setting? If so, we have a fantastic opportunity within our Retirement Division as a Longevity Risk Management Actuary.

In this role you will have the opportunity to work across multiple jurisdictions (including Bermuda & the US) as well as leading on various projects and driving the key changes to our pricing, reporting and longevity assumptions.

What you'll be doing:

  • Developing/Improving mortality assumptions for: pricing, year-end reporting and capital requirement purposes for both annuities & lifetime mortgages and leading the communication of these changes to relevant stakeholders across the business.
  • Taking core responsibility for the accuracy and completeness of analyses conducted for assigned mortality related projects, and associated reporting. This could include but is not limited to mortality management information and development of mortality assumptions for both UK and international business.
  • Providing relevant longevity information/responding to queries from various internal and external stakeholders, primarily L&G Retirement (Finance, Capital, Pricing), Group Capital, external consultancies (who are providing review) and regulators (such as the PRA).
  • Leading a team of Longevity Risk Actuarial Analysts in the analysis and modelling of longevity risk, ensuring that appropriate controls and processes are in place.
  • Defining, developing and delivering a strategy/plan to ensure that activities are delivered in line with Legal & General’s Customer Experience and Treating Customers Fairly policy.
  • Ensuring that all recommendations/changes to assumptions are approved by the business, including presenting these proposals to relevant governance committees (as applicable) to achieve appropriate sign-off.
  • Ensuring that the principles of Conduct Risk are embedded into daily operations (including processes and internal controls) to ensure the delivery of good customer outcomes and effective Conduct Risk management at all times.

What we're looking for:

  • A Fully Qualified Actuary.
  • Experience in a commercial environment is a must, with a longevity background being preferable.
  • Longevity experience with knowledge of base and trend mortality and common practices is ideal.
  • Knowledge of the Solvency II framework, practical experience of model development and the application of statistical methodologies is preferable.
  • Experience in individual annuities, bulk buyout and lifetime mortgage markets would be preferable.
  • Commercial knowledge of longevity risk products including BPA, individual, longevity swaps etc.
  • Knowledge of governance structures.
  • Thought leadership, provision of advice and solution proposer for the modelling of longevity and longevity uncertainty.
  • Understanding of key actuarial concepts relating to mortality, annuities, life table concepts and the methodology employed in mortality experience investigations.


  • Competitive Salary ranging from £80,000 - £95,000 (depending on experience)
  • Car Allowance – 12% of salary
  • Holiday Allowance – 30 days plus all UK bank holidays
  • Pension Contribution – L&G match any personal contributions up to 5% and then provide a further top up of 10%
  • Private Medical
  • Life Insurance
  • Income Protection
  • Smart Spending – which gives you access to vouchers/shopping discounts

Please note the above are just a few of the many benefits you will be entitled to when you join L&G from day 1.

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:

Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees.

We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises.

In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award winning business.

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

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