We are looking to recruit a Longevity Risk Actuary into our London office.

Development and communication of longevity assumptions, analytics and solutions for the purposes of year end reporting and pricing, or providing stakeholder information, through responsibility for assumption or analytical analysis projects. This work includes both UK and international territories:

- Analysis and modelling of best estimate longevity risk (primarily annuitant base mortality, mortality trend, and spouse demography) ensuring appropriate controls and processes are in place.

- Develop solutions that are responsive to new information as well as providing long term stability, enabling LGR to meet its financial reporting strategy and manage earnings volatility.

- Stay abreast of longevity risk developments, ensuring that Legal & General’s assumptions remain appropriate.

Co-Author and contributor to the development and delivery of marginal distributions of uncertainty for base mortality, mortality trend, spouse demography, and associated correlations for the retirement portfolio (UK and International). This includes:

- Consideration of risk factors, identifying the risks appropriate to mortality and demographic assumptions. This includes assessment of potential developments for new longevity risks emerging for retirement to ensure that risks are appropriately allowed for in the Internal Model.

- Analysis and modelling of longevity risk uncertainty, correlations and diversification benefits, ensuring appropriate controls and processes are in place.

- Providing expert judgement decisions where there is insufficient quantitative information to derive an assumption. This includes the communication of complex longevity analysis, modelling and longevity risk management to key stakeholders, including the implications for the business to ensure the business has the advice it requires to make financial management decisions and to carry out regular financial reporting.

- Collaboration to develop medical modelling scenarios to contribute to or validate the longevity marginal distributions.

Provision of longevity capital updates, information and responding to queries from internal and external stakeholders, primarily LGR (Finance, Capital, Pricing), Group Capital, consultancies providing external review (currently KPMG) and regulators (PRA).

Support the relationship with the PRA, providing timely responses to requests for information.

Provide thought leadership for scientific development of longevity risk modelling to assess the use of reinsurance or longevity derivatives for the company’s annuity portfolio. Development, delivery and communication of actuarial solutions to meet LGR and group capital strategy.

Ensure recommendations are approved by the business; ongoing education and informing of stakeholders, contribute to the presentation of proposals to committees. Where required, present at RCC, GIMC, GIRC and TRC to achieve sign-off for assumptions proposals.

Stay abreast with, and where appropriate contribute to, external longevity risk developments, ensuring that Legal & General’s longevity assumptions remain appropriate. This includes (but is not limited to) the work of CMI sub-committees.

Development of appropriate models and tools for the analysis of longevity risk trends and uncertainty. The business solutions developed will use appropriate statistical methodologies to enhance LRT modelling capabilities.

Responsibility for the accuracy and completeness of analyses conducted for assigned mortality related projects, and associated reports. This could include, but is not limited to: mortality management information, development of mortality assumptions for UK and international business. Ensure appropriate actuarial controls are in place.

Support the wider longevity team by providing technical advice and guidance to colleagues.

Qualifications:

Nearly qualified or qualified Actuary with experience across a pricing, reporting and preferably capital background. Alternatively, partially qualified with equivalent experience, commercial understanding and technical capabilities to a newly qualified Actuary.

Knowledge:

Experience in a commercial environment is essential. Longevity experience with specific knowledge of base and trend mortality and common practices is preferable. Knowledge of the Solvency II framework is essential. Practical experience of model development and the application of statistical methodologies is a must.

Analysis and reporting of internal and external mortality data sets and understanding impact on mortality and mortality measures (life expectancy, annuity values, capital and reserving impact).

Knowledge of governance structures, who’s who.

Understanding of key actuarial concepts relating to mortality, annuities, life table concepts and the methodology employed in mortality experience investigations.

Skills:

Communication – Excellent written, oral and presentation skills to liaise with internal and external stakeholders.

Influencing – Ability to understand the tasks required and to persuade managers of the outcome.

Problem solving – Ability to identify problems and suggest solutions. Provide thought and innovative leadership in areas of longevity and capital modelling.

Planning – Ability to plan projects for self or a team, setting out purpose, objectives, milestones, deliverables, dates etc. Ability to track progress, provide issue resolution and ensure delivery of requirements to quality and within budget.

Documentation – Maintain and drive excellent standards of documentation and audit trails.

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, 25 days' holiday (plus one day after two years), private medical insurance, performance related bonuses, 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 clare.williamson@landg.com with any queries