The Actuarial Analyst will carry out a range of actuarial tasks, under appropriate guidance, to support the implementation of pricing strategy.  Key responsibilities will involve regular re-pricing activity and production of suitable MI to ensure that financial metrics are accurately monitored

Purpose

The LGRR Individual Annuity pricing team is responsible for setting Individual Annuity rates in the market and ensuring pricing strategies are developed, implemented and maintained so annuity rates remain competitive and the division meets its business goals.  The Actuarial Analyst will carry out a range of actuarial tasks, under appropriate guidance, to support the implementation of pricing strategy.  Key responsibilities will involve regular re-pricing activity and production of suitable MI to ensure that financial metrics are accurately monitored.

Principal Accountabilities

• Carry out regular investigations of the individual annuity market and propose changes to annuity rates to meet new business volumes and financial metric targets.
• Implement pricing strategy ensuring timeliness and accuracy and that pricing is in line with current strategy and targets.
• To assist in the development, implementation and maintenance of the actuarial tools and systems required by the Individual Annuity business area to perform its responsibilities.
• Take ownership for the accurate and timely production of regular profitability and competitive MI essential for risk and performance management of the Individual Annuity business.
• Take ownership for the development, and documentation of pricing processes within the team with the overall aim of reducing the risk and improving controls.
• Assist in implementing any new methodologies for pricing risks inherent within Individual Annuity product liabilities.
• Provide pricing and actuarial support to the operational new business quotation teams in an accurate and timely manner.
• Maintain an awareness of product competition, compliance and legal requirements.
• Assist in the research, development and implementation of new products.

Qualifications

Typically the jobholder will be an actuarial student who is making good progress through the CT exams.

Knowledge

The successful candidate will need to demonstrate:

• A basic knowledge of pricing metrics and principles
• A good general knowledge of Microsoft Word and Excel, with basic VBA knowledge preferre

Skills

• Good personal planning and organisation/teamwork skills
• Initiative in applying problem solving and analytical skills.
• The ability to communicate clearly and explain complex details to stakeholders within and outside the team.
• The ability to draft and maintain documentation of team tasks.
• The ability to question results for reasonableness and also to refer to more experienced staff where appropriate.

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, 22 days’ (with potential to rise to 26 days) holiday, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.

Legal & General runs a highly regarded Actuarial Rotations Programme for students, which you will be a part of. The role you are applying to is for a specific location, but to further develop and enhance your skills you may be asked to rotate in future to our other site. Our sites are London and Hove.