Senior Actuarial Analyst (Business Solutions)

Your role at a glance:

Are you a Part-Qualified Actuary who is target driven and enjoys working on a variety of different tasks (including project work)? Then why not come and join our Corporate Development - Business Solutions team as a Senior Actuarial Analyst.

We are looking for an enthusiastic colleague who is motivated to help support us in reaching our business targets through a range of solutions that balance both profitability and capital usage.

What you'll be doing:

• Supporting actuaries and directors in the execution of reinsurance contracts. This includes drafting governance papers, collaborating with reinsurers and examining financial impacts on our reporting and regulatory balance sheets.
• Collaborating with members of the team to design, present, and guide our capital management solution through governance.
• Supporting close cooperation between our international and UK businesses.
• Exploring the relative merits of different capital and reinsurance frameworks to help manage risks within the division.
• Creating and maintaining models used within the team to estimate financial impacts of new structures being developed e.g., reinsurance collateral monitoring models.
• Producing quantitative and qualitative analysis for our capital initiatives to be used in decision making and helping the business division to achieve our capital usage and premium volume targets (as well as other key performance targets e.g. new business margins).

What we're looking for:

• A Part Qualified Actuary who is making progress through the IFoA Exams.
• Good commercial awareness and some knowledge of the bulk annuity insurance and reinsurance markets.
• Comfortable with capital modelling under the Solvency II regulatory framework.
• Some knowledge of pension regulation (particularly with respects to pension buyouts and longevity insurance).
• A keen desire to learn is essential, but the following experience would also be beneficial:
• Experience in pricing bulk or individual annuities.
• Exposure to reinsurance arrangements and their role in the bulk annuity market.
• Financial performance and business planning for an insurance company.
• Knowledge of performance metrics and disclosures to the market.

Benefits:

• Competitive Salary ranging from circa £45,000 – circa £60,000 (depending on experience).
• Performance Related Bonus.
• Study Support (including a rotation scheme and incremental increases as you progress further through your exams).
• Paid Overtime.
• Holiday Allowance – 25 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 5%.
• 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.