Senior Actuarial Analyst (Reinsurance)

Your role at a glance

Are you looking for a role where no two days are the same?

Would you like exposure to both internal stakeholders and external partners?

Then why not join our Retail Protection team as a Senior Actuarial Analyst.

In this role you will support the Head of Reinsurance in developing and delivering optimal reinsurance strategies to enable our Retail Protection business to meet its strategic goals.

This role would be perfect for a Part Qualified Actuary and we would be open to applications from both those who are still actively pursuing the IFoA exams and exam leavers.

What you'll be doing

• Supporting the Head of Reinsurance to:-

1. Tender for new Reinsurance Treaties on both new and existing business.
2. Ensure the tender process is efficient and robust by recommending and delivering developments to the process as necessary.
3. Maintain and develop our existing Reinsurance arrangements.
4. Proactively identify new opportunities for leveraging Reinsurance arrangements.
5. Assist in the development of product range including new distribution deals by providing pricing expertise and any additional actuarial support as required.
6. Present & Communicate changes to the wider team, stakeholders and relevant governance committees.
7. Maintain good standards of risk control & ensure that governance processes are adhered to, and exceptions raised/issues resolved in a timely manner.
8. Implement Reinsurance Rate changes in the system.

• Proactively analysing problems and developing potential solutions before proposing recommended course of action.
• Leading the development or integration of systems and processes necessary to ensure that changes to actuarial systems and processes meet regulatory, statutory and professional requirements whilst maintaining operational and product integrity.
• Representing the actuarial team as a lead subject matter expert for Insurance wide projects and developments, providing technical support and communicating with relevant stakeholders.
• Managing internal customer expectations and ensuring that relevant stakeholders are informed of progress and delivery against agreed timescales.
• Taking the lead role in managing & coaching others within the team, and motivating/supporting others in their development.
• Representing the department externally or establishing and maintaining contacts in Operations, Product, Reinsurance, Marketing, Finance and Actuarial to ensure understanding of departmental requirements with particular emphasis on how data integrity, new processes or new product variants impact on the team’s actuarial processes, investigations or results.
• Analysing feedback from all sources to ensure that customers’ reasonable expectations of performance and service are met and where failings are identified, provide information to relevant areas to enable changes to be made.

What we're looking for

• A Part Qualified Actuary (including those who have stopped taking Exams)
• Knowledge of protection products and the impact of product features on risk assumptions (would be highly beneficial)
• Pricing Experience at another life office or reinsurer(would be highly beneficial)
• A detailed understanding of actuarial techniques for pricing long term insurance products (would be highly beneficial)
• Strong Modelling capability - including the ability to build/develop conceptual models from scratch.
• Experience using/knowledge of Excel, VBA, R, Prophet, Access etc.
• A self-starter who can work on their own initiative and effectively manage their own workloads.
• The flexibility to react to Business requirements in a constantly changing environment.

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, at least 25 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. 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

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

Life can sometimes be unpredictable, and it pays to plan ahead. Our aim at Legal & General Retail is to help our customers plan for the unexpected, achieve financial security for their tomorrow, and protect everything that’s important to them. To better understand our customers and meet their needs, we’ve brought our protection, retirement income, savings, lending and advice, fintech and mortgage businesses under one umbrella.

Created at the start of 2022 through the merging of our long-standing and trusted retail retirement and insurance businesses, we’re a fast-growing division with big, customer-centered ambitions.

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.