Commercial Pricing Actuary

Are you a qualified actuary with knowledge of individual retirement and/or pensions products? Are you interested in joining a market leading and award winning provider of UK retail retirement solutions, including individual annuities, lifetime mortgages (LTMs) and workplace savings?

If so, then we are recruiting a Commercial Pricing Actuary to work closely with our Head of Commercial and Market Pricing. Broadly, the role will entail developing, maintaining and implementing pricing strategies to enable Individual Annuity business and the wider LGRR division to meet its business goals.

What will you be doing?

• Set individual annuities pricing in the market place. Ensure that pricing strategy is aligned to deliver key growth and profitability targets.
• Use market insight to recommend and implement improvements to the pricing strategy. Strive to continuously improve pricing sophistication and capability to ensure L&G have a competitive advantage in the market place.
• Involvement in key projects for the division such as implementation of Reinsurance strategy.
• Ensure that pricing and profitability models are in line with the pricing basis. Ownership of the commercial pricing documents ensuring that they remain up to date.
• Continually enhance understanding and capability to accurately price risks inherent within Individual Annuity product liabilities. Continually raise standards & improve processes throughout the pricing area.
• Develop relationships with other key stakeholders (including Distribution and Product, Customer Services, PRT pricing team, Financial Reporting, and the Investment Strategy team) to ensure pricing changes are anticipated and well understood, providing actuarial support as required to support business objectives.
• There is a possibility of management of up to three actuarial students within the pricing team to ensure the regular production of competitive, profitability and capital usage MI remains accurate and insightful. The candidate will have full responsibility of this key function of the broader team.
• Maintain awareness of product competition, compliance and legal requirements in order to handle external queries and maximise contribution to team effectiveness.
• Provide pricing and actuarial support to the quotation teams accurately and in a timely manner.
• To manage the team in accordance with the Company’s policies and procedures, including the Partnership Agreement, so that the team’s business objectives are achieved consistently.

What are we looking for?

• Ideally a qualified actuary, but we would like to consider those on the cusp of qualification
• A commercial attitude and good inter-personal skills for dealing with employees and customers of all levels.
• Some knowledge of GLM modelling, Machine Learning or alike will be advantageous but not essential.
• Ideally the role holder will have UK Life Insurance Pricing experience and managerial experience.

In return?

Our employees have a wide range of benefits including a generous pension scheme, life assurance, 27 days' holiday, private medical insurance, performance related bonuses, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme if you are a qualified actuary.

If this sounds like you, then we'd love to hear from you. For any questions, contact Helen.Kinloch@landg.com.