Capital actuary/analyst for L&G’s Lifetime Mortgage business working with the Structuring, Commercial and Pricing actuaries to ensure the commercial success of the end-to-end lifetime mortgage business to L&G Group.

Purpose:

Capital actuary/analyst for L&G’s Lifetime Mortgage business working with the Structuring, Commercial and Pricing actuaries to ensure the commercial success of the end-to-end lifetime mortgage business to L&G Group. The ideal candidate will have a few years of working experience in a commercial or technical role at a financial institution and developed good analytical and statistical skills to help the team continually improve interpretation of data, modelling of product features and internal securitisation to better measure the risks and profits from the LTM business for continued success of the business within the Solvency II framework.

Principal Accountabilities:

• Assist the Structuring Actuary in the investigation and design of alternative approaches to data analysis, risk calibrations and modelling to optimise the balance sheet and capital efficiency of LTMs.
• Work with the Commercial Actuary on new product initiatives to generate both sales and margin growth for the business while developing the appropriate risk management, valuation and capital models for these new products.
• Calibration of risk distributions using internal/external data for the key Lifetime Mortgage (LTM) risk factors to enable accurate risk management of the LTM business within the Solvency 2 framework
• Design and deliver new pricing strategies in collaboration with the Lender, Legal & General Home Finance (LGHF), to gain competitive advantage and to enable the LTM business to hit its volume, profit, and capital targets.
• Work on assessing the impact of new assumption bases or risk calibrations on profit margins and solvency capital requirements of LTMs
• Ensure that the principles of Conduct Risk are embedded into your day to day operations to deliver good customer outcomes at all times. Ensure 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
• The LTM team is a fluid team and the candidate will get involved in a variety of projects across multiple stakeholders. As such, the candidate will work closely with:

- LTM pricing actuary to determine an LTM pricing strategy which optimises the MA benefit of the LTMs written

- LTM structuring actuary to determine the rating and capital treatment of new LTM securitisations

- LTM commercial actuary to understand profit and capital implications of new products

- LGR Investments and LGIM rating teams to help identify and deliver strategies to improve the effectiveness of the LTM assets generated to L&G Group.

Qualifications, Knowledge and Skills:

Qualifications:

The jobholder should be either a newly or nearly qualified actuary with some statistical experience wishing to move into a more commercial product development, structuring and pricing role.     

Knowledge:

Good statistical knowledge including knowledge and experience of using key statistical packages (e.g. R)

Skills:

Ability to manage and develop complex processes

Good communication skills

Ability to participate in different workstreams across the team due to the fluid set-up of the team.

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 (plus one day after two years), private medical insurance, performance related bonuses, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme for qualified Actuaries.  Your hard work will be rewarded when you join us.