Longevity Risk Actuary
- Role Type
- Closing Date
- Company Info
Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.
- Department Info
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, gender identity or age.
- Job Duties
The Longevity Risk Actuary role focuses on the production and communication of pricing, reporting and capital assumptions for longevity for the UK and international retirement (primarily annuities) business.
- Development and communication of longevity assumptions, analytics and solutions for the purposes of pricing, reporting and capital
- Analysis and modelling of longevity risk, ensuring appropriate controls and processes are in place.
- Develop solutions that are responsive to new information as well as providing long term stability
- Develop, maintain and refine mortality models used within the team.
- Provide mortality support and development for new initiatives across pricing, reporting and capital as and when required by the business
- Provide concise, clear and well communicated summaries of all analysis and present these findings to key stakeholders
- Stay abreast with external longevity risk developments, ensuring that Legal & General’s longevity assumptions remain appropriate
- Development of appropriate models and tools for the analysis of longevity risk trends and uncertainty
- Responsibility for the accuracy and completeness of analyses conducted for assigned mortality related projects, and associated reports
- Line management of junior staff members. Demonstrate effective Leadership Behaviours
- Skills Required
- Qualified (or nearly qualified) Actuary with broad Life or Pensions experience across pricing, reporting and capital.
- Experience in a commercial environment
- Longevity experience with specific knowledge of base and trend mortality and common practices. Knowledge of the Solvency II framework. Practical experience of model development and the application of statistical methodologies
- 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 and ability to manage stakeholders
- Understanding of key actuarial concepts relating to mortality, annuities, life table concepts and the methodology employed in mortality experience investigations. Understanding of data mining and predictive modelling in relation to mortality analyses.
Communication – Excellent written, oral and presentation skills to liaise with internal and external stakeholders.
Analytical – Advanced Excel skills. Knowledge of SAS or Emblem would be advantageous. Ability to break down complex problems and systematically solve them.
Influencing – Ability to understand the tasks required and to persuade managers of the outcome.
Problem solving & Initiative – Demonstration of application of actuarial techniques, principles and methods to solving both routine and unstructured problems. Put forward ideas, identify and act upon opportunities/ proposals to enhance the performance and contribution of the team and wider department. Able to present and implement independently creative solutions to complex problems.
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.
Management and Teamwork – Ability to manage staff and delegate effectively. Ability to work well with peers, providing peer review to enable delivery of projects in a timely manner.
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, 27 days' holiday, 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, as well as a 12% car allowance scheme, your hard work will be rewarded when you join us.