Skip to main content

This job has expired

Director - Pension Risk Transfer

Employer
Legal & General
Location
London
Salary
Up to £110,000 + Car Allowance, Benefits & Bonus
Closing date
28 Apr 2023
Reference
VN-25250

View more

Job Details

The Role 

Due to exciting growth within our PRT business here at L&G, we are looking for a Qualified Actuary to join us as a Director of Pension Risk Transfer.

In this role you will be working in, and managing parts of, a multi-award-winning team of actuaries and actuarial students who are responsible for developing new deals and de-risking opportunities for pension schemes. You will also work on all aspects of new deal execution, with the aim of meeting ambitious value and volume based new business delivery targets.

This position would be ideal for someone with extensive knowledge of the DB Pensions market, who has previous experience either working in a consultancy environment or for another life insurer or de-risking provider within a pricing role.

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 you achieve a work-life balance which suits you.

What you'll be doing

  • Owning and managing the pricing of deals, including driving detailed reviews and analysis of deals with a view to seeking opportunities for improvements in deal economics.
  • Effectively and actively leading a team of more junior actuaries and actuarial students, with an emphasis on promoting the knowledge and career development of team members. You will also ensure that the highest level of support is provided by the team to the Directors, Leadership Team, Consultants and Trustees at all times.
  • Providing creative and innovative solutions to pension schemes who are looking to de-risk, with a consistent focus on leading the New Business Team to deliver against ambitious value and volume based new business delivery targets.
  • Creatively working throughout the quotation process to provide innovative solutions to both clients and the market alike.
  • Ensuring accuracy and alignment with the L&G pricing basis, by carrying out peer reviews and implementing and owning consistent quality and risk controls within the team including assisting and supporting with the completion of quality assurance (QA) exercises.  
  • Working with consultants to truly understand the potential scheme, including any particular requirements in terms of insurer responses or insurer selection. And then reviewing the responses to “requests for quotations” to ensure they are always: tailored to the particular client, clear and persuasive.
  • Ensuring that the New Business Team works in line with all relevant processes and procedures and that quality and governance remains of paramount importance throughout the quotes process.
  • Leading the New Business Team through relevant sign off and governance processes; including presenting governance documentation to appropriate committees, positively influencing internal stakeholders and responding effectively to challenges around pricing and structure.
  • Having the opportunity (if you wish) to take a lead role for certain deals, but otherwise working to support the Business Development Director in Beauty Parades/Pitches to Consultants/Trustees by confidently presenting the Legal & General proposition and demonstrating an in-depth knowledge of the relevant Scheme, Trustees and the de-risking project. You will also be prepared to effectively respond to challenging questions posed by Consultants/Trustees and be involved in commercial and contractual negotiations (post exclusivity) to convert complex actuarial concepts into clear legal drafting.

What we're looking for

  • Qualified Actuary (or exceptional relevant industry experience) with an extensive knowledge of Defined Benefit Pension Schemes.
  • Previous relevant experience working in a consultancy environment or another relevant pricing role (e.g., at another life insurance or de risking provider).
  • Previous team/people management experience, including the active development of more junior staff.
  • A track record of effective delegation and supervision of complex tasks.
  • Experience in spotting and implementing process and technology improvements.
  • Exceptional networking skills to build contacts within the Pension Industry and develop L&G’s brand further.
  • Exceptional project management skills with a strong track record of leading on complex projects within short timescales.

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. 

Our commitment to you - Allowing you to be yourself

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.

Company

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 jordan.russell@landg.com

Company info
Website
Telephone
07889439662
Location
Legal & General
One Coleman Street
London
Greater London
EC2R 5AA
GB

Get job alerts

Create a job alert and receive personalised job recommendations straight to your inbox.

Create alert