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Commercial Actuary - Lifetime Mortgages
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VN-25275
Permanent
London
Competitive + Car Allowance, Bonus & Benefits
16 June 2023
Due to growth within our Lifetime Mortgage (LTM) business, we are currently looking for a Commercial Actuary to join the team.
This role would be ideal for a fully qualified who has strong stakeholder management skills and is commercially astute.
In this role you will support the commercial management of the Lifetime Mortgage business from a funder (L&G Assurance Society) perspective. You will also work closely with the lenders to ensure the commercial success of the end-to-end lifetime mortgage business to L&G ensuring this is within an acceptable risk profile.
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 achieve a work-life balance which suits you.
- Working with the lenders (in all relevant territories) to develop and deliver new product initiatives to generate both sales and margin growth. Focussing on the financial business case, risk management, developing of pricing and reporting models / bases as well as navigating internal committees and external governance (e.g. PRA).
- Supporting the identification and development of new retirement lending propositions and product variants to better manage the risk profile of the LTM book, both within and outside of the UK.
- Supporting and liaising with other areas of the L&G Retail Actuarial team to ensure that:-
- Pricing strategies are appropriate, meet stakeholder needs and hit volume, profit and capital targets.
- LTMs are appropriately reflected in the IFRS and SII balance sheets.
- The performance of the securitisation structure is optimised.
- The rating framework applied to LTMs is appropriate.
- Projects and transactions are supported as appropriate.
- Ensuring that the principles of Conduct Risk are always embedded into your day-to-day operations to deliver good customer outcomes. 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.
- Reviewing plans for the team’s activities through all planning phases by effectively prioritising and scheduling work to ensure the needs of all customers are met. This will include influencing stakeholders to ensure proposed deliveries are ‘right sized’ and realistic, re-prioritising plans and escalating issues to senior management if issues emerge.
- Taking the lead in all matters regarding the management of employees, ensuring that management discretion is used in a consistent manner to maximise business performance.
- Fellow of the Institute of Actuaries (FIA/FFA), or equivalent.
- Life office/relevant consultancy actuarial experience is highly preferable.
- Lifetime mortgage and/or Asset Restructuring experience is highly preferable.
- Commercial and/or Pricing experience is highly preferable.
- Excellent knowledge of actuarial techniques.
- Good all-round knowledge and awareness of relevant regulation (including Solvency II), guidance and company principles/practices.
- Ability to communicate results in a clear and compelling manner to a range of stakeholders at various levels.
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, 27 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.
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
Life can sometimes be unpredictable, and it pays to plan ahead. Our aim at Legal & General Retail is to help our customers plan for the unexpected, achieve financial security for their tomorrow, and protect everything that’s important to them. To better understand our customers and meet their needs, we’ve brought our protection, retirement income, savings, lending and advice, fintech and mortgage businesses under one umbrella. Created at the start of 2022 through the merging of our long-standing and trusted retail retirement and insurance businesses, we’re a fast-growing division with big, customer-centered ambitions.
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.