Director - Pension Risk Transfer

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VN-25250

Permanent

London

Competitive + Car Allowance, Bonus & Benefits

19 May 2023

Due to exciting growth within our PRT business here at L&G, we are looking for a Qualified Actuary to join us as a Director of Pension Risk Transfer.

In this role you will be working in, and managing parts of, a multi-award-winning team of actuaries and actuarial students who are responsible for developing new deals and de-risking opportunities for pension schemes. You will also work on all aspects of new deal execution, with the aim of meeting ambitious value and volume based new business delivery targets.

This position would be ideal for someone with extensive knowledge of the DB Pensions market, who has previous experience either working in a consultancy environment or for another life insurer or de-risking provider within a pricing role.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate to help you achieve a work-life balance which suits you.

Legal and General welcomes applications from individuals who have taken a career break of 18 months or more.  Successful returner applicants will benefit from transition support provided by Women Returners and join a cohort of other returners on the Legal & General Career Returners Programme

  • Owning and managing the pricing of deals, including driving detailed reviews and analysis of deals with a view to seeking opportunities for improvements in deal economics.
  • ​Effectively and actively leading a team of more junior actuaries and actuarial students, with an emphasis on promoting the knowledge and career development of team members. You will also ensure that the highest level of support is provided by the team to the Directors, Leadership Team, Consultants and Trustees at all times.
  • Providing creative and innovative solutions to pension schemes who are looking to de-risk, with a consistent focus on leading the New Business Team to deliver against ambitious value and volume based new business delivery targets.
  • Creatively working throughout the quotation process to provide innovative solutions to both clients and the market alike.
  • Ensuring accuracy and alignment with the L&G pricing basis, by carrying out peer reviews and implementing and owning consistent quality and risk controls within the team including assisting and supporting with the completion of quality assurance (QA) exercises.  
  • Working with consultants to truly understand the potential scheme, including any particular requirements in terms of insurer responses or insurer selection. And then reviewing the responses to “requests for quotations” to ensure they are always: tailored to the particular client, clear and persuasive.
  • Ensuring that the New Business Team works in line with all relevant processes and procedures and that quality and governance remains of paramount importance throughout the quotes process.
  • Leading the New Business Team through relevant sign off and governance processes; including presenting governance documentation to appropriate committees, positively influencing internal stakeholders and responding effectively to challenges around pricing and structure.
  • Having the opportunity (if you wish) to take a lead role for certain deals, but otherwise working to support the Business Development Director in Beauty Parades/Pitches to Consultants/Trustees by confidently presenting the Legal & General proposition and demonstrating an in-depth knowledge of the relevant Scheme, Trustees and the de-risking project. You will also be prepared to effectively respond to challenging questions posed by Consultants/Trustees and be involved in commercial and contractual negotiations (post exclusivity) to convert complex actuarial concepts into clear legal drafting.
  • Qualified Actuary (or exceptional relevant industry experience) with an extensive knowledge of Defined Benefit Pension Schemes.
  • Previous relevant experience working in a consultancy environment or another relevant pricing role (e.g., at another life insurance or de risking provider).
  • Previous team/people management experience, including the active development of more junior staff.
  • A track record of effective delegation and supervision of complex tasks.
  • Experience in spotting and implementing process and technology improvements.
  • Exceptional networking skills to build contacts within the Pension Industry and develop L&G’s brand further.
  • Exceptional project management skills with a strong track record of leading on complex projects within short timescales.

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.

If you join us, you’ll get access to some great benefits, including private medical insurance, 30 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You'll receive a car allowance of 12% of your annual salary, and you can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave. 

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings. 

Wide-ranging opportunities 

Our “One L&G” ethos means you’ll be part of a truly ambitious global business. Members of our team regularly support Legal & General Retirement America and Legal & General Reinsurance. In recent years we’ve offered numerous secondment opportunities in both our New York and Bermuda offices.

We have a strong relationship with our colleagues in LGIM, the UK’s largest asset manager and LGC, our alternative assets platform, who invest society’s capital for society’s benefit, creating jobs, transforming communities, and changing lives.

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

As the longest serving active Pension Risk Transfer (PRT) provider in the UK, we have experienced the evolution of pension de-risking since our first transaction in January 1987. It started modestly, with the creation of a small bulk purchase annuities team, but our business and the whole industry has grown significantly since then. Today, it is widely viewed as the gold standard for protecting members' benefit promises for the long-term.

We’re proud of our achievements over those 35 years; from the success of the past decade in which we’ve secured more than £50 billion of pension scheme members’ retirement income to growing our international business in the US and Canada.

During that time, we’ve completed some of the largest transactions in UK market history as well as investing over £30 billion into areas like urban regeneration, transport, housing and clean energy.

A market-leading and multi-award-winning business

We’ve written more UK buy-in and buy-out business than any other insurer. We’re the most decorated insurer in our industry: we’ve been named De-risking Provider of the Year by the Financial Times for four of the past five years, and we’ve shone individually as well. In 2022, colleagues in our business won Director of the Year, Mentor of the Year and Team Leader of the Year at prestigious industry-wide awards.

We’re excited to continue to evolve and drive innovation in the solutions we provide and the customer service we offer, supporting the pensions sector for the next 35 years and beyond.

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.

Across our Group, we run a multi award-winning Diversity and Inclusion (D&I) programme that actively champions equality in all its forms. Our D&I programme offers opportunities for colleagues to get involved and help drive meaningful change

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

As the longest serving active Pension Risk Transfer (PRT) provider in the UK, we have experienced the evolution of pension de-risking since our first transaction in January 1987. It started modestly, with the creation of a small bulk purchase annuities team, but our business and the whole industry has grown significantly since then. Today, it is widely viewed as the gold standard for protecting members' benefit promises for the long-term.

We’re proud of our achievements over those 35 years; from the success of the past decade in which we’ve secured more than £50 billion of pension scheme members’ retirement income to growing our international business in the US and Canada.

During that time, we’ve completed some of the largest transactions in UK market history as well as investing over £30 billion into areas like urban regeneration, transport, housing and clean energy.

A market-leading and multi-award-winning business

We’ve written more UK buy-in and buy-out business than any other insurer. We’re the most decorated insurer in our industry: we’ve been named De-risking Provider of the Year by the Financial Times for four of the past five years, and we’ve shone individually as well. In 2022, colleagues in our business won Director of the Year, Mentor of the Year and Team Leader of the Year at prestigious industry-wide awards.

We’re excited to continue to evolve and drive innovation in the solutions we provide and the customer service we offer, supporting the pensions sector for the next 35 years and beyond.

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.

Across our Group, we run a multi award-winning Diversity and Inclusion (D&I) programme that actively champions equality in all its forms. Our D&I programme offers opportunities for colleagues to get involved and help drive meaningful change

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.