Senior Actuarial Analyst - Collateral & Reinsurance Management

Legal & General looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

Job Description

We’re currently recruiting for a Senior Actuarial Analyst to join the Collateral & Reinsurance Management team within our multi-award winning PRT Division.

We’re offering a competitive salary, study support and a host of other great benefits as well as the opportunity to work for the most decorated insurer in the PRT market - who are widely viewed as the gold standard for protecting members' benefits for the long-term.

This is a unique opportunity, where you will focus on managing the arrangements agreed following a DB Pension Risk Transfer (PRT) deal. This will involve maintaining ongoing relationships with numerous reinsurers, and potentially Trustee counterparts, as well as providing calculations relating to post-sale pricing, reinsurance, longevity insurance, and collateral arrangements.

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 that works for you.

What you'll be doing:

• Proactively supporting the Actuarial Managers in providing post-sale monitoring and calculations work relating to buy-in/out pricing, reinsurance, longevity insurance and collateral arrangements.
• Helping to on-board new PRT reinsurance arrangements, including reviewing and feeding in comments to draft contracts and models.
• Ensuring that the highest level of support is provided to internal and external clients including consultants, trustees and reinsurers at all times.
• Supporting and checking the work of the Operations Analysts in our Collateral and Reinsurance Services team.
• Providing actuarial support to projects relevant to the wider PRT New Business team

Qualifications

Who we're looking for:

• Part Qualified Actuary who is making good progress through the IFoA Exams.
• Previous experience working in a pension consultancy environment or for another de-risking provider would be highly preferable.
• Knowledge of Defined Benefit Pension Schemes, and associated valuation techniques.
• Ability to work quickly and accurately, without compromising quality.
• Strong communication and interpersonal skills.
• Strong time management skills and the ability to work to tight deadlines to ensure project delivery.

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
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. 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

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. 

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 care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can. 

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.