Actuarial Analyst

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VN-10837

Permanent

London

Competitive

6 December 2018

Development and maintenance of actuarial models, tools and systems required by the Individual Annuity business area to perform its responsibilities. Particular focus on the SII capital, profit-test and Prophet models, ensuring they are regularly reviewed, maintained and developed. 

  • Development and maintenance of actuarial models, tools and systems required by the Individual Annuity business area to perform its responsibilities.
  • Particular focus on the SII capital, profit-test and Prophet models, ensuring they are regularly reviewed, maintained and developed. 
  • Development of models should be carried out in line with agreed standards and clear audit trail of the changes made. 
  • Ensure that assumptions within models are aligned to the pricing basis, with appropriate controls and documentation in place to meet the requirements of L&G’s model risk control framework.
  • Development and oversight of spreadsheet tools owned by the pricing team and used by the operations team.
  • Continually raise standards and improve the pricing models and assumptions.
  • Assist in defining and implementing any new methodologies for pricing risks inherent within Individual Annuity product liabilities. Including the consideration of new regulation and the impact on the pricing process.
  • Develop and document pricing processes within the team with the overall aim of reducing the risk and improving controls.
  • Assist in the research and development of the Enhanced Annuity product to grow volumes
  • Maintain an awareness of product competition, compliance and legal requirements.

Qualifications:

  • Typically the jobholder will be an actuarial student who is making good progress through the CT exams. However, this is not a necessity.

Knowledge:

  • The successful candidate will need to demonstrate:
  • A basic knowledge of pricing metrics and principles
  • A good general knowledge of Microsoft Word and Excel, with basic VBA knowledge preferred. Knowledge of Prophet is also advantageous.

Skills:

  • The candidate should have an ability and desire to work on an agile basis i.e. some home working will be required, with an ability to communicate effectively using Skype for example.
  • Good personal planning and organisation/teamwork skills
  • Initiative in applying problem solving and analytical skills.
  • The ability to communicate clearly and explain complex details to stakeholders within and outside the team.
  • The ability to draft and maintain documentation of team tasks.
  • The ability to question results for reasonableness and also to refer to more experienced staff where appropriate.

Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 22 days’ (with potential to rise to 26 days) holiday, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.

Please contact Stacie Burnett, Resourcing Lead - Stacie.Burnett@landg.com for further information.

 

About L&G

We take pride in being there for our customers. We help them deal with whatever life has in store and support them in achieving financial security; and that’s thanks to the talented and dedicated people who work with us. For us, ‘social responsibility’ is not just a buzzword. It defines us and runs through everything we do for our customers and as an employer. And working with us, you’ll get a competitive reward package and have the flexibility and autonomy to deliver your personal, business and career goals.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.

This is an opportunity to be part of an exciting and growing business within the Legal & General Retail Retirement (LGRR) division. In 2017 premiums grew by almost 80%, the highest growth throughout the whole of L&G. 

The LGRR Individual Annuity pricing team is responsible for setting Individual Annuity rates in the market and ensuring pricing strategies are developed, implemented and maintained so annuity rates remain competitive and the division meets its business goals. 

This role is in the Risk and Development Pricing team, which is focussed on the underlying risk price, setting the pricing assumptions and ownership of the pricing models.

The Actuarial Analyst will take responsibility for a wide range of actuarial tasks, under appropriate guidance, to support the analysis and implementation of pricing strategy. 

About L&G

We take pride in being there for our customers. We help them deal with whatever life has in store and support them in achieving financial security; and that’s thanks to the talented and dedicated people who work with us. For us, ‘social responsibility’ is not just a buzzword. It defines us and runs through everything we do for our customers and as an employer. And working with us, you’ll get a competitive reward package and have the flexibility and autonomy to deliver your personal, business and career goals.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.

This is an opportunity to be part of an exciting and growing business within the Legal & General Retail Retirement (LGRR) division. In 2017 premiums grew by almost 80%, the highest growth throughout the whole of L&G. 

The LGRR Individual Annuity pricing team is responsible for setting Individual Annuity rates in the market and ensuring pricing strategies are developed, implemented and maintained so annuity rates remain competitive and the division meets its business goals. 

This role is in the Risk and Development Pricing team, which is focussed on the underlying risk price, setting the pricing assumptions and ownership of the pricing models.

The Actuarial Analyst will take responsibility for a wide range of actuarial tasks, under appropriate guidance, to support the analysis and implementation of pricing strategy.