We are looking for a qualified/nearly qualified actuary to join our Pension Risk Transfer Division as an Actuarial Manager.
In this role you will lead the Pension Risk Transfer Pricing & Execution Team on the production of quotations and supporting documentation for pension scheme de-risking activities.
You will also develop and implement innovative pension scheme de-risking solutions and have the opportunity to get involved in other project work as well as performing the BAU tasks.
This role would be ideal for someone with a good technical understanding of Defined Benefit Pensions and/or Pricing Methodologies (if you also have project management experience that would be highly advantageous).What you'll be doing
What were looking for
- Providing bulk annuity and longevity quotes to pension schemes in a timely, efficient and proactive manner.
- Providing peer review and sign off of quotations produced by the Pricing & Execution Team & producing the first draft response to "requests for quotations" ensuring they are always tailored to the particular client.
- Keeping a consistent focus on working towards delivery against ambitious value and volume based new business targets.
- Working with Pensions Consultants to truly understand the target scheme, including any particular requirements in terms of insurer responses or insurer selection. Then working creatively throughout the quotation process to provide innovative solutions to both clients and the market that meet the customers' needs.
- Showing the ability to propose non-standard assumptions to match the dynamics of a particular scheme and being considered an expert in the capital and pricing models in order to optimise pricing for DB schemes.
- Producing complete, succinct and transparent governance documentation to support quotations. Ensuring all quotes are produced with the highest level of accuracy and in line with Legal & General's pricing model.
- Ensuring that the highest level of support is provided by team members to Directors, Consultants and Trustees at all times. Including providing support to Directors with their portfolio of relationships with consultants.
- Ensuring that the Pricing & Execution Team works in line with all relevant internal processes/procedures and that quality and governance remains of paramount importance throughout the quotes process. Ensuring that the principles of Conduct Risk are embedded into the day to day operations of the team and the relevant controls are in place for effective management of Conduct Risk.
- Ensuring that new business transactions are effectively handed over to the Technical Services Team upon completion.
- Acting as a role model and effectively delegating to a team of actuarial students you will be managing, with an emphasis on promoting the knowledge and career development of your team members.
- Qualified Actuary (although we would also be open to applications from Nearly Qualified Actuaries too)
- Previous experience working within a Consultancy environment, for a Life Insurer or for another De-risking provider.
- Good knowledge of Defined Benefit Pension Schemes and/or Pricing and Capital Modelling.
- Previous experience of adapting to new projects or situations by the development and implementation of new/non-standard and innovative solutions.
- Strong sales experience and/or presentation skills.
- Excellent time management and prioritisation skills
- Effective delegation and supervision of complex tasks.
- Project management skills, with a track record of leading and delivering on complex projects within short timescales.
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. 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.