Longevity Risk Management Actuary

Your role at a glance:

Please Note - Whilst this role has been posted as a Full Time position, we would also welcome applications from Part Time workers.

Are you an experienced Life Actuary with strong commercial awareness and/or experience of assumption setting or trend analysis? If so, we have a fantastic opportunity to join L&G as a Longevity Risk Management Actuary.

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

Do you feel like you meet the requirements for this role 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 to discuss further.

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:

• Qualified Life Actuary.
• Experience in a commercial environment is a must, with a longevity background being highly 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.

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, 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:

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.

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.