Actuarial Pricing Analyst (student, part qualified actuary)

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VN-21870

Permanent

London

Competitive base, study support, bonus and pension plus more!

2 March 2022

A newly created role has arisen at Legal & General, and we're very excited to be recruiting a part-qualified actuary into our LGRR (L&G Retail Retirement) business.

LGRR's mission is to help as many customers as possible achieve financial security in retirement. Retirement is a sector that has seen huge changes in recent years due to Pension Freedoms and huge opportunities for growth with the rise of property wealth held by people aged 55 and above.

One of our core, award-winning products includes our Lifetime Mortgage, which enables customers to supplement their income by releasing some of the equity locked up in their homes as tax-free cash.

In this role, you will support work on the pricing of the Lifetime Mortgage business, working closely with the lenders (in all relevant territories) to ensure the commercial success of the end-to-end lifetime mortgage business to L&G Group within an acceptable risk profile.

Legal & General runs a highly regarded Actuarial Rotations Programme for students, which you will be a part of.

  1. Support the pricing of LTMs to enable the business to hit its volume, profit, and capital targets
  2. Monitor the risk profile of the LTM portfolio and understand the interaction between the risk profile and pricing.
  3. Production of regular MI essential for risk and performance management of the business (including to agreed timescales)
  4. Support work of other stakeholders, including LGRR Finance, LGRI Structuring and Lender teams, to ensure that:
  5. Pricing is consistent with underwriting standards
    • LTMs are appropriately reflected in the IFRS and SII balance sheets
    • The performance of the securitisation structure is optimised
    • Projects and transactions are supported as appropriate
  6. Ensure that all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and are consistent with the principles of Treating Customers Fairly (TCF). Feed into wider conversations within the team about potential changes to product design that could more effectively meet customer needs.

You will be a student actuary who has started to make progress through your actuarial exams, and generally will have studied a numerical subject to a higher education level.

Whilst advantageous, prior pricing / lifetime mortgage experience is not a pre-requisite for this role, you will ideally need to demonstrate a good general knowledge of Microsoft Word and Excel, with basic VBA knowledge preferred.

You will have at least one year's experience in an actuarial role, either with a life insurer or pensions consulting firm.

The skills we are looking for are:

  • Good personal planning and organisation/teamwork skills.
  • Initiative in applying problem solving and analytical skills.
  • The ability to communicate clearly and explain complex details clearly both 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, 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.

About L&G

As a company, to be one of the world's largest Asset Managers, homebuilders, pension providers and insurances brands, we are diverse by our very nature. And we're a company that wants to use our diversity and influence to make society better in the long term - for everyone. To do this we need to be a company that welcomes everyone, where everyone can succeed. That means we're committed to building an inclusive culture in L&G where we can all perform at our best, no matter who we are, what we do or where we do it. So whoever you are, wherever you are, whatever your story, we'd love to hear from you.

About the business area

In L&G Retail Retirement (LGRR) our mission is to help as many customers as possible achieve financial security in retirement.

Our commitment to Equal Opportunities

We’re 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.

How to find out more

If you’d like more information about this opportunity please contact Helen Kinloch at helen.kinloch@landg.com (LinkedIn profile https://www.linkedin.com/in/helenkinloch/). Please note direct applications via email cannot be accepted for this role; only applications submitted through our careers website will be considered.

About L&G

As a company, to be one of the world's largest Asset Managers, homebuilders, pension providers and insurances brands, we are diverse by our very nature. And we're a company that wants to use our diversity and influence to make society better in the long term - for everyone. To do this we need to be a company that welcomes everyone, where everyone can succeed. That means we're committed to building an inclusive culture in L&G where we can all perform at our best, no matter who we are, what we do or where we do it. So whoever you are, wherever you are, whatever your story, we'd love to hear from you.

About the business area

In L&G Retail Retirement (LGRR) our mission is to help as many customers as possible achieve financial security in retirement.

Our commitment to Equal Opportunities

We’re 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.

How to find out more

If you’d like more information about this opportunity please contact Helen Kinloch at helen.kinloch@landg.com (LinkedIn profile https://www.linkedin.com/in/helenkinloch/). Please note direct applications via email cannot be accepted for this role; only applications submitted through our careers website will be considered.