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Legal & General is hiring a

Head of Capital Management (Lifetime Mortgages)

We have an interesting and varied Head of Capital Management role that has become available within our Lifetime Mortgage (LTM) business here at L&G.

In this role you will influence the strategy and manage the development of L&G’s modelling and valuation of our Lifetime Mortgage portfolios. You will also manage the delivery of L&G’s financial reporting metrics in relation to the Lifetime Mortgage portfolios, which will cover metrics including IFRS, Solvency II (both Own Funds and SCR) and risk appetite.

You will also guide stakeholders (including but not limited to senior management, external auditors and PRA) in understanding financial reporting metric results and the potential implications of these. As well as working with other members of the LTM Actuarial team to ensure the commercial success of the end-to-end Lifetime Mortgage business to Legal & General.

This role can be based from either our London or Hove Offices or if you live further afield, we could consider a Home Working arrangement (with occasional travel to office locations required)

Whilst this role has been advertised as a Full-Time position, we would also actively encourage applications from Part Time workers.

Do you feel like you meet the requirements but require greater flexibility? We’d love to hear from you regardless; we’re open to flexible working arrangements and support hybrid working, so please get in touch!

What you'll be doing:

  • Leading on the calculation, review and delivery of the valuation results for Lifetime Mortgages. Which will include ensuring that the processes and models strike the right balance between accuracy, reliability and efficiency.
  • Calibrating risk distributions using internal/external data for the key Lifetime Mortgage (LTM) risk factors to enable accurate risk management of the LTM business within the Solvency 2 framework.
  • Leading on elements of IFRS and Solvency II technical advice, modelling and insight in relation to Lifetime Mortgages to support LGR and other L&G Group businesses.
  • Proactively identifying and pursuing strategies and opportunities to improve the capital efficiency and profitability of the Lifetime Mortgage portfolios.
  • Working on new product initiatives to generate both sales and margin growth for the business while developing the appropriate risk management, valuation and capital models for these new products.
  • Working on assessing the impact of new assumption bases or risk calibrations on profit margins and solvency capital requirements of LTMs.
  • Ensuring that the principles of Conduct Risk are embedded into your day to day operations to deliver good customer outcomes at all times.
  • Ensuring that all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.

What we're looking for:

  • A Qualified Actuary with demonstrable post qualification experience within a Life Company/Consultancy.
  • Knowledge of Lifetime Mortgages (products, markets and valuation) would be highly desired.
  • Good statistical knowledge including knowledge and experience of using key statistical packages such as R.
  • Willingness to undertake appropriate Continual Professional Development as recommended for the role.
  • Good all round knowledge and awareness of relevant regulation (particularly Solvency II), guidance, principles and best practices.
  • Ability to manage and develop complex processes.
  • Good written and verbal communication skills, in particular clear and concise drafting of technical documentation, and ability to explain complex modelling concepts to non-experts.
  • Ability to participate in different workstreams across the team due to the fluid set-up of the LTM team.


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, 30 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:

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.

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.

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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