Senior Reporting Actuary

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VN-23033

Permanent

Bermuda

Competitive

22 July 2022

L&G Re is the global reinsurance hub of L&G Group Plc. (“Group”) and a leading global reinsurer of pension risk transfer (“PRT”) business. The role of Senior Reporting Actuary supports the L&G Re performance strategy, focusing on actuarial reporting projects, as well as monthly reporting of annuity and longevity reinsurance business for L&G Re and reporting the L&G Re entity profits and solvency in a timely and accurate manner.  This role requires an actuary with reporting experience and the ability to review and challenge the reporting results, methodology and controls. This role also provides actuarial project support for onboarding new business, group led projects, internal model change projects, investment projects and other balance sheet management projects.   

  • Leading a small team to perform and review actuarial reporting for the company.  Actuarial reporting will include IFRS, Solvency II, Economic Capital, EBS and Liquidity and will require review and validation of actuarial reporting calculations as well as supporting new reporting methodologies in response to regulatory changes.
  • Working with Group Divisions to develop and maintain the reporting capabilities and solutions to support the international development and growth ambitions of L&G Re.
  • Assisting with onboarding of internal and external new business including reconciliation of reporting financial metrics against those produced by the L&G Re pricing team. 
  • Supporting projects to identify areas to optimize the L&G Re balance sheet on regulatory, solvency and accounting bases.
  • Preparing reports and analyses for review by the Head of Actuarial Reporting and the Chief Actuary as well as assist in reviewing financial reporting output at both half-year and year-end.
  • Implementing reporting assumption changes including governance.
  • Working with Group Divisions to develop the business plan financial projection capabilities for L&G Re and deliver production of L&G Re business plan results, in line with the Group projection assumptions, on an annual basis.
  • Understanding the reporting impact of business strategies that may include longevity, protection/mortality, and non-life reinsurance business for both external business (global reinsurance) and internal retrocession (group reinsurance).
  • Delivering effective written and verbal communication, including report writing and presenting, to all relevant parties to support effective decision making and manage the smooth and integrated delivery of business objectives.
  • Developing and coaching others on the team and that you work with, to achieve and maintain optimal employee engagement.
  • Developing and maintaining highly collaborative and effective relationships at all levels within the organization, as well as externally.
  • Actively promoting L&G Re’s culture of ownership across the organization and be a role model for L&G behaviours of Straightforward, Collaborative and Purposeful.
  • Carrying out duties with integrity and diligence, ensure that appropriate professional standards are maintained, that the reporting deadlines are met, that records are maintained appropriately and that the actuarial processes are fit for purpose and meet internal and regulatory requirements.
  • Fully qualified Life Actuary.
  •  Experience in actuarial reporting.
  • Significant experience and understanding of individual and bulk purchase annuity business and longevity swaps is required, with experience in the UK and/or Canadian market strongly preferred.
  • Significant experience and demonstrated deep technical understanding of IFRS and Solvency II balance sheet frameworks. Experience with Bermuda Economic Balance Sheet (“EBS”) framework is an asset.
  • Previous experience performing, analysing and synthesizing technical actuarial calculations and results and communicating them to others effectively.
  • Demonstrated understanding of compliance standards for actuarial reporting, with the proven ability to identify key issues and design and implement efficient, robust and effective actuarial processes and controls.
  • A proven track record of excellent relationship management at all levels throughout an organisation, as well as internal stakeholder management in a global organization.
  • Demonstrated ability to act independently, as well as part of a team, and apply sound judgement and pragmatism in order to achieve business aims.
  • Ability to take a balanced view on a range of actuarial and commercial matters, taking on board the views of others and weighing potential risks, combined with the personal confidence to back own judgment.
  • A deep commercial awareness and a good understanding of the wider business, as well as the economic, market and regulatory environment in which L&G Re operates.
  • Must be very organised, highly efficient and enjoy working in a fast-paced dynamic environment, with the ability to work overtime to meet deadlines.

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution, and give you access to some great benefits.

About L&G

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 Jordan Russell  at jordan.russell@landg.com (LinkedIn profile: https://www.linkedin.com/in/jordan-russell-70ab89169/).

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.

About L&G

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 Jordan Russell  at jordan.russell@landg.com (LinkedIn profile: https://www.linkedin.com/in/jordan-russell-70ab89169/).

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.