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Technical Change Actuary

Legal & General
London, United Kingdom
Closing date
Jun 10, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Company Description

Securing pensions over the long term can be a challenge for many businesses. Our ambition atLegal & General Retirement Institutional(LGRI)is to help companies and pension scheme trusteeshonour their defined benefitpension 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.

Job Description

We're recruiting for aTechnical Change Actuary/Quant to join us. We're offering acompetitive base salary, plus car allowance (if you are a fully qualified actuary under the IFoA or equivalent) and a host of other fantastic benefits.

The Technical Change team are key in the delivery of business growth and operational transformation for LGRI and other Group-wide stakeholders whom the team serves in regards to their asset data and financial reporting systems and processes. They also ensure delivery of assigned initiatives within the Change Portfolio by utilising their awareness of both the business needs and the processes and systems to facilitate the design, testing and implementation of appropriate solutions. What you'll be doing:
  • Developing/maintaining ongoing relationships and collaborative communication with all stakeholders and suppliers to ensure that change requests are delivered to an appropriate level of quality. You will also ensure that all parties are made fully aware of any key issues, risks, assumptions and dependencies that they should consider or address.
  • Supporting the Senior Product Development Manager in giving guidance to the team and its customers on the solutions that will best deliver the requested changes to the models, modelling methodologies, reporting processes and/or reporting metrics facilitated by the Technical Change team. You will also highlight any technical limitations of the suggested solutions and/or their potential impact on desired business outcomes and how this could be mitigated.
  • Providing an Actuarial/Technical steer to ensure that projects and change initiatives deliver their desired outcomes to the agreed budget, timescales, quality and stakeholder priorities. This will be achieved by working directly with the delivery teams and any 3rd parties in accordance with the relevant L&G Business and IT Change policies, best practices and governance frameworks.
  • Ensuring effective solutions are implemented that meet business needs by either managing their delivery or carrying out elements of the requirements gathering and impact assessment process through which the business and IT opportunity/problems are understood, investigated, documented and stakeholder validated. You will do this by using appropriate actuarial techniques, any relevant supporting modelling and other data investigations, eliciting calculation specifications and acceptance criteria from stakeholders, documenting their requirements, developing independent calculation replicating tools, and considering existing asset and other relevant data needs, including from 3rd parties.
  • Acting on behalf of the customer by ensuring sufficient testing and quality evaluation of the deliverables has occurred at all stages of the delivery and development lifecycle, this will ensure that the end product is fit for purpose, meets the business and IT acceptance criteria, is signed off by all relevant stakeholders as acceptable, and any exceptions to the agreed acceptance criteria are identified to stakeholders for consideration.
  • Managing the smooth, integrated delivery of initiatives and their outcomes into the wider business for them to be able to realise the expected benefits. You will achieve this via updates to BAU operating model documentation, regular ongoing socialisation of the changes and their expected impacts on stakeholder processes and training stakeholders and suppliers to ready them to use any updated software/processes.
  • Ensuring that Conduct Risk and Treating Customers Fairly (TCF) rules are embedded into your day to day operations to deliver good customer outcomes at all times. Ensuring that all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.

Who we're looking for:
  • Qualified Actuary or equivalent qualification (CFA, FRM, CFQ etc.) or demonstrable experience within an Actuarial/Quantitative Change/Transformation role.
  • Strong communication, collaboration, and interpersonal skills with the ability to influence and steer key stakeholders.
  • Experience of implementing and/or supporting software systems development and project delivery life cycles (for things such as actuarial/risk reporting models and tools, and derivation of new pricing/risk management algorithms)
  • Good awareness of the IT technologies and delivery techniques used to build and implement the financial and analytical modelling systems. Including processes used by actuaries/quantitative financial engineers in Insurance organisations.
  • A Project/Software Development related certification such as: Prince 2 Practitioner, Association of Project Managers (AMP), Agile PM practitioner; ITSQB Test Manager foundation certificate or Business Analysis - would be beneficial, but is not essential.
  • It would also be highly beneficial if you had an understanding/working knowledge of:
    - Financial Reporting processes and metrics such as Economic Capital, Solvency II and IFRS.
    - Asset valuation and modelling.
Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:
  • The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes
  • Generous pension contribution
  • Life assurance
  • Private medical insurance (permanent employees only)
  • 27 days holiday, plus public holidays. There's also the option to buy and sell holiday
  • Competitive family leave
  • Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice
  • There are the many discounts we offer - both for our own products and at a range of high street stores and online
  • In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart
Additional Information

Legal & General is a leading financial services organisation, named Britain's Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.

We're one of the world's largest asset managers, homebuilders, pension providers and insurers.Connecting to form a unique business model which drives value for our customers and society. And enabling our people to create impact through work that is meaningful and valued.

If you join us, you'll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We strive to be open, mindful, and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs. It doesn't matter if you don't meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.

If you're open to find out more, we'd love to hear from you.
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