Actuarial Financial Engineer
- Legal & General
- Up to £75,000 + Car Allowance, Benefits & Bonus
- Closing date
- 17 Apr 2023
- Investment, Life insurance, Pensions, Risk management, Solvency II, Systems
- Contract Type
- Full Time
- Qualified, Nearly qual (11+ exams)
We are currently looking for a Nearly/Newly Qualified Actuary to join our Risk Analytics `Internal Model Production Team' as a Financial Engineer.
As a Financial Engineer you will be responsible for producing results from the Internal Model for the Group’s Regulatory Capital Reporting and for a wide range of ad-hoc purposes as requested by our colleagues in both Legal & General Retirement Institutional (LGRI) and elsewhere across the Group. This will include supporting the analysis of change in capital results and performing capital calculations for `what-if' scenarios, such as market stresses or potential impacts of writing new business.
You will also get involved with Internal Model change through testing model developments and helping to ensure their smooth transition into production.
This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate to help achieve a work-life balance which suits you.
What you'll be doing
- Performing Internal Model capital calculations for regulatory reporting, analysis of change and what-if runs using the AlgoOne system to ensure that Internal Model reporting requirements are met.
- Delivering results with the required accuracy, within agreed timescales and following the required process controls to maintain the quality of the Internal Model Production team’s deliveries.
- Liaising with customers to help define requirements where necessary, and coordinating with others in the Internal Model Production team and affected stakeholders, to ensure that customer requests are actioned and prioritised appropriately.
- Assisting with customer queries on the Internal Model to support capital reporting teams with their understanding of the model and analysis of results.
- Advising team members and Business Unit teams on complex issues surrounding risk management and capital modelling.
- Supporting the validation of asset results from the Internal Model for profit-and-loss attribution and the validation of capital results.
- Testing Internal Model changes, in collaboration with the development team and relevant stakeholders in Risk Analytics or the Business Units to ensure that model changes are fit for purpose and follow the required Internal Model governance.
- Training others in the team and maintaining appropriate process documentation for supporting the development of others and mitigating any key person risk.
- Responding appropriately to any TCF (Treating Customers Fairly) issues which may arise, to support compliance with TCF regulations.
What were looking for
- Qualified Life Actuary, or Nearly-Qualified Actuary with sufficient experience.
- Knowledge of the Solvency II regulations governing the calculation of capital requirements.
- Understanding of the key risk exposures for different types of life insurance products, i.e. the drivers of capital for different types of assets or liabilities.
- Understanding of requirements for Business Units analysis-of-change and what-if requests to ensure these are analysed and actioned appropriately.
- Competency within model configuration and setting up inputs with a high level of accuracy and attention to detail.
- Understanding of risk modelling or risk management processes. And liaising with internal groups to identify and support the development of new risk management approaches.
- Experience and confidence in working with financial models, at a technical level and with analysing results.
- Effective communication with others in Risk Analytics and our business customers to understand their requirements and for dealing with queries.
- Ability to identify potential improvements to processes or the quality of deliveries, and provide input into potential solutions.
- A focus on delivery and attention to detail for ensuring high quality deliveries.
- Ability to estimate and manage own work to keep within planned timescales
- Some past software development experience or coding skills (Algo RiskWatch, Python, C++, VBA or other languages) would be advantageous
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, 27 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. If you are a Qualified Actuary you'll also 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.
From the outside, we may seem familiar. On the inside, we are anything but.
At Legal & General, everything we do is driven by our vision to build a better society and improve the lives of our customers while creating value for our shareholders. We invest today’s money such as pension funds, into tomorrow’s assets: investments which will not only pay a return in the very long term, but will also contribute to a better economic future.
We are one of the UK’s leading financial services groups and with over £1 trillion in total assets under management, the UK’s largest investment manager for corporate pension schemes, with plans to expand our international businesses in the US, Europe, Middle East and Asia.
From affordable housing and urban regeneration to clean energy and small business finance, there is so much more to us than what meets the eye. So take a closer look. Get involved. Be curious. And you may be surprised!
At Legal & General, we know it is you who enable us to be brilliant and are proud to be home to a community of diverse actuarial talent, a community which is committed to making the numbers mean more. So why not take the next step and explore one of the many opportunities we currently have to be a part of it?
Don't just take our word for it. Click here to hear directly about what life is like as an actuary at Legal & General from Vibha: https://www.youtube.com/watch?v=3mBf1YQ9-_w
If you're interested in learning more, please contact Jordan Russell at firstname.lastname@example.org
Legal & General
One Coleman Street
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