Financial Engineer

We’re sorry. We’re no longer accepting applications for this role.

Search and apply for similar opportunities or register your interest to receive alerts of the latest suitable jobs as they become available. 

VN-16338

Permanent

London

Competitive

21 February 2020

The Financial Engineer within the Internal Model Production team is responsible for supporting the delivery of Internal Model results for SII and EC reporting.  This includes producing results for regulatory reporting, model changes, and ad-hoc business decision-making and investigations. 

The Financial Engineer within the Internal Model Production team is responsible for supporting the delivery of Internal Model results for SII and EC reporting.  This includes producing results for regulatory reporting, model changes, and ad-hoc business decision-making and investigations. 

The role will support the production of quarterly capital results, asset profit-and-loss and SCR analysis, and significantly contribute to delivering results for analysis-of-change and what-if runs – these results are used to quantify the impacts of  model or calibration changes, and also used for a wide variety of investigations, e.g. capital impacts in particular scenarios or changes in asset/liability profiles.

The team member would be working closely with the rest of the IM Production team, and over time would gain exposure to our wide range of customers in different teams around the Group.


Principal Accountabilities:

  • Perform runs to calculate capital requirements using the Group Internal Model, which uses AlgoOne
  • Produce reports for analysing asset movements over a given period, using the Internal Model asset data and calculation engine
  • Steer requirements for Business Unit what-if requests and action these using the AlgoOne system
  • Test Internal Model developments, working with the development team and relevant stakeholders in Risk Analytics or the Business Units
  • Implement reporting models and tools, and steer internal groups to deriving new pricing/risk management algorithms and approaches
  • Monitor, check and support users in investigating the various batch runs
  • Support the Risk Analytics Validation team along with the Business Units to interpret the results
  • Coordinate input data gathering from the Business Units to ensure consistency and fitness-for-purpose for calculation processes 
  • Maintaining appropriate documentation for Internal Model calculation processes

Qualifications:

  • Degree level or equivalent, in a technical or numerate field

Knowledge:

  • Experience and confidence with working with financial models, at a technical level or with analysing results
  • Competent with model configuration and setting up inputs with a high level of accuracy and attention to detail
  • Background or an understanding of risk modelling or risk management processes
  • Knowledge of the SII regulations governing the calculation of capital requirements would be an advantage, but much of this can be learned in the role
  • Understand the key risk exposures for different types of life insurance products, i.e. the drivers of capital for different types of assets or liabilities, but advanced knowledge is not expected
  • Understand requirements for Business Units analysis-of-change and what-if requests to ensure these are analysed and actioned appropriately
  • Identify potential improvements to processes or the quality of deliveries, and provide input into potential solutions
  • Liaise with internal groups to support the development of new risk management approaches
  • Advise team members and Business Unit teams on complex issues surrounding risk management and capital modelling

Skills:

  • Effective communication with others in Risk Analytics and our business customers to understand their requirements and for dealing with queries
  • A focus on delivery and attention to detail for ensuring high quality deliveries
  • Some past software development experience or coding skills (Algo RiskWatch, Python or VBA) may be an advantage
  • Capacity to estimate and manage own work to keep within planned timescales

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, private medical insurance, 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.

Legal & General runs a highly regarded Actuarial Rotations Programme for students, which you will be a part of. The role you are applying to is for a specific location, but to further develop and enhance your skills you may be asked to rotate in future to our other site. Our sites are London and Hove.  

For internal candidates, please note that your application will be shared with the L&G Chief Tutor. This is your name only and for rotation purposes.

For further information please contact Reesa Berry, Resourcing Lead on reesa.berry@landg.com

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, gender identity or age.

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, gender identity or age.