Head of Commercial and Market Pricing, Retirement Income

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VN-7560

Permanent

London (Moorgate)

£80,000 to £95,000

2 January 2018

Legal & General are looking for a Head of Commercial and Market Pricing to develop, maintain and implement pricing strategy.  This will enable the Individual Annuity business to gain competitive advantage and the wider LGRR division to meet its business goals.

Purpose

To develop, maintain and implement pricing strategies to enable the Individual Annuity business to gain competitive advantage and the wider LGRR division to meet its business goals.

Principal Accountabilities

  • Lead on design and delivery of pricing strategies to enable the Individual Annuity business to gain competitive advantage. 
  • Take responsibility for and set Individual Annuity pricing in the market place. Ensure that pricing strategy is aligned to deliver key growth and profitability targets.
  • Monitor competitor activity and develop market insight to recommend and implement improvements to the pricing strategy and processes.
  • Continuously improve pricing sophistication and capability to ensure L&G have a competitive advantage in the market place.
  • Take responsibility for pricing and commercial arrangements with key distribution partners, generating a reputation for a commercial approach, which encourages them to place business with Individual Annuities and wider LGRR division.
  • Demonstrate a comprehensive understanding of the pricing basis, the key metrics and the inherent risks to correctly price the business.  Continually enhance understanding and capability to price risks inherent within Individual Annuity products.
  • Develop and present re-price proposals and key profitability and capital usage MI to senior stakeholders. 
  • Take ownership for the pricing and actuarial support provided to the quotations team ensuring this is provided in an accurately and timely manner.
  • Take ownership for managing and developing the regular production of competitive, profitability and capital usage MI.  Ensuring the MI remains accurate and insightful. 
  • Continually raise standards & improve processes throughout the pricing area.
  • Develop strong working relationships with other key stakeholders including Risk & Development Pricing Team, Product, Distribution, Underwriting, Customer Services, Financial Reporting, and the Investment Strategy team.   
  • Maintain awareness of product competition, compliance and legal requirements in order to handle external queries and maximise contribution to team effectiveness.
  • Lead a pricing team including qualified actuaries and actuarial students.  Provide wider support across the business where needed.
  • To manage the team in accordance with the Company’s policies and procedures, including the Partnership Agreement, so that the team’s business objectives are achieved consistently.

Qualifications

  • You will be an experienced qualified actuary with relevant post qualification experience.

Knowledge

  • Extensive product pricing experience and managerial experience desirable.
  • In depth knowledge of actuarial techniques including key pricing metrics (EEV, IFRS, Solvency II framework).
  • Excellent all round knowledge and awareness of relevant products, regulations and the UK pensions market. 

Skills

  • Excellent technical and analytical ability.
  • Excellent communications, interpersonal and presentation skills in order to influence internal and external stakeholders.
  • Demonstrable commercial awareness including experience working within commercial teams.
  • Ability to build relationships and interact effectively at all levels.
  • Management experience including development of junior members of the team.

Dimensions

Manage a growing team including qualified actuaries and actuarial students (team size 4 – 6 people)

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, 30 days' holiday, private medical insurance, performance related bonuses, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme, your hard work will be rewarded when you join us.

About L&G

Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.

About L&G

Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.