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Risk Analytics Lead Technical Change Actuary
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25 July 2022
The Risk Analytics Lead Technical Change Actuary has a key role in the delivery of the business growth and operational transformation of LGRI and the L&G Group-wide insurance stakeholders whom the Risk Analytics team serves in its asset data and related actuarial and financial reporting systems and process Product Owner role. The Risk Analytics Lead Technical Change Actuary provides actuarial leadership and guidance on the design of solutions to meet the complex actuarial modelling needs of business requests, ensures delivery of the Risk Analytics Product Line’s portfolio of change by using their awareness of both the business needs and the Risk Analytics processes and systems to facilitate the design, testing and implementation of appropriate solutions.
- Actively developing and maintaining ongoing relationships, communication with all stakeholders, suppliers ensuring change requests are delivered to an appropriate level of quality, that all are fully aware, in a timely way, of any key issues, risks, assumptions and dependencies they should consider or address, of the information they’ll need to supply in support of project delivery, and they are given enough timely information about the expected changes so as to be operationally ready for go Live
- Providing overarching actuarial technical leadership and guidance to the Risk Analytics team and its customers on the solutions that will best deliver the requested changes to the models, modelling methodologies, reporting processes of the various financial reporting metrics facilitated by Risk Analytics whilst at the same time will not create regression to existing metrics and processes, and in doing so highlighting any technical limitations of the solutions, their potential impact on desired business outcomes could be met and how this could be mitigated
- Ensuring Risk Analytics driven projects and change initiatives deliver their desired outcomes to the agreed budget, timescales, quality and stakeholder priorities through working directly with the requesting and delivery teams and any 3rd parties in accordance with the relevant L&G Business and IT Change policies, best practices and governance frameworks in delivery of the solutions, required governance deliverables and providing actuarial technical steer, input into delivery plans, risk and issue reporting and resolution.
- Ensuring effective solutions are implemented to meet business needs, by, as agreed with the business requestors of change, either managing their delivery of or carrying out elements of the requirements gathering and impact assessment process through which the business and IT opportunity/problems are understood, investigated, documented and stakeholder validated; doing this by using appropriate actuarial analysis techniques, any relevant supporting modelling and other data investigations, eliciting calculation specifications and acceptance criteria from stakeholders, documenting their requirements, developing independent calculation replicating tools, and considering existing asset and other relevant data needs, including from 3rd parties
- Acting like and on behalf of the customer by ensuring sufficient testing and quality evaluation of the deliverables has occurred at all stages of the delivery and development lifecycle, this to ensure that the end product is fit for purpose, meets the business and IT acceptance criteria, is signed off by all relevant stakeholders as acceptable, and any exceptions to the agreed acceptance criteria are identified to stakeholders for consideration
- Managing the smooth, integrated delivery of initiatives and their outcomes into the wider business for them to be able to realise the expected benefits; achieving this via updates to Risk Analytics BAU operating model documentation; regular ongoing socialisation of the changes and their expected impacts on stakeholder processes; training stakeholders and suppliers to ready them to use any updated software and processes
- Ensuring Risk Analytics has good and early sight of the future pipeline of change and transformation demand from stakeholders so it can plan, seek and receive budget for its delivery, by assisting in the collation of the Risk Analytics Product Line Change Portfolio each year, within this liaising with stakeholders to understand their needs, determine and provide estimates for the resource effort and timelines needed to deliver solutions for the desired modelling, methodology and business process changes.
- Ensuring that the principles of Conduct Risk and Treating Customers Fairly (TCF) are embedded into your day to day operations to deliver good customer outcomes at all times. Ensuring that all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.
- A qualified Actuary with post qualification experience from either a life company or consultancy; having additional qualifications such as MSc Finance, CFA would be helpful.
- Desired but not mandatory- Project, Software Development related certification : Any of APMG Prince 2 Practitioner, Association of Project Managers (AMP), Agile PM practitioner; ITSQB Test Manager foundation certificate; Business Analysis – eg BCS Diploma in Business Analysis modules
- Insurance Financial reporting processes and metrics : Economic Capital, Solvency II, IFRS, ALM; Life and Pension products, Bulk and individual annuity products
- Asset valuation and modelling across a variety of asset classes incl covering Credit Fixed Income, Rates and Interest Rate Fixed Income, ABS, Equities, Property, Derivatives, Swaps, Equity Release Mortgages, Direct Investments, coupled with knowledge of asset and asset modelling related BAU operations and the necessary attitude towards Live Production systems;
- Programme, Project and Change management, software delivery under Agile and other SDLC approaches
- Provision of designs and requirements gathering for and testing of actuarial / risk management analytics functionality
- Hands on experience of programming in languages such as Python, VBA, R, C++
- Good awareness of the IT technologies and delivery techniques used to build and implement the financial and analytical modelling systems and processes used by actuaries, quantitative financial engineers in Insurance organisations, incl asset modelling software such as AlgoOne
- Excellent communication, collaboration and interpersonal skills with the ability to influence and steer key stakeholders, incl executive managers, to reshape business problems to solutions that can be solved with available technology; of translating the principles of Business Transformation into business/people change activities and project outcomes
- Proven experience of implementation of actuarial / risk reporting models and tools, and derivation of new pricing / risk management algorithms; of supporting software systems development and project delivery life cycles
- Strong collaboration skills and experience of working with Business and IT architects, Actuaries, Quantitative/Solution Financial Engineers, IT colleagues to deliver change
- Demonstrated problem solving, trouble-shooting skills, coupled with a proven ability to address and use initiative to deliver solutions to technical and business problems, and proven analytical skills, the ability to review and test financial metrics and results for reasonableness
- The willingness to embrace new technology, influence business teams to adopt it;
- Ability to self-manage, support multiple concurrent projects, balance conflicting strategies, priorities and work in a dynamic environment
- The ability to manage and benefit from virtual meetings, with limited reliance on face-to-face meetings; and to work without the constraints of a fixed office or desk location, focusing on outcomes and benefits, rather than tasks and measures;
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, 30 days' holiday, private medical insurance, performance related bonuses, 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.
The brand with the brolly is choosing today to change tomorrow.
Since 1836, we’ve grown to become one of the world's largest asset managers, homebuilders, pension providers and insurance brands.
We’re all here to improve the lives of our customers, build a better society for the long term, and create value for our shareholders - helping to shape a better future for society and the planet.
We need people who share our ambitions, agility and entrepreneurial spirit to help us do it.
At L&G, you’ll find a balance that helps you be your best. Empowered by hybrid working, we’re supported by technology and workplaces that enable us to work effectively wherever we are. We come together in offices to collaborate and connect, and use time at home for individual, focused activities. And, when we achieve great things, we celebrate our success and reward strong performance.
Today, there’s over 10,000 of us, working towards our mission, with plenty of opportunities to grow your career as we grow L&G. Will you join us?
About the business area
Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees. We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises. In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award winning business.
Our commitment to Equal Opportunities
Great minds don’t have to think alike, so we welcome voices from all backgrounds. Bringing together people with different life experiences helps us build empathy with our customers and drive innovation.
We don’t just talk about it, we actively promote diversity and equitable opportunities for all. That means our employment decisions are made without regard to race, colour, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability or protected veteran status. In fact, we embrace every dimension of diversity to reflect the customers and communities we serve.
We think it’s important to create an inclusive environment where we can all belong, contribute and drive progress, where you can develop and grow, and be empowered. We want you to use your voice to help us build a better tomorrow.
We all work differently, and have different needs, which is why. we’re always open to discussing flexible working arrangements. Likewise, we’re committed to finding reasonable accommodations for candidates with specific needs during our recruiting process.
So whoever you are, wherever you are, whatever your story, we'd love to hear from you.
How to find out more
If this opportunity excites you but you’re not sure you meet all the requirements, or you’d like to know a bit more, please contact Laura Spencer-Jones at firstname.lastname@example.org (https://www.linkedin.com/in/laura-spencer-jones-0b8b02181/).
If you’d like to be considered for this role, please submit your application through our careers website as we’re not accepting email applications.