Legal & General Retirement Institutional (LGRI) provides retirement solutions to over one million customers. The retail business helps customers turn their pension savings into lifelong retirement income. The corporate business helps defined benefit pension schemes manage their annuity liabilities, through buy-out, buy-in and longevity insurance arrangements.

Purpose

Legal & General Retirement Institutional (LGRI) provides retirement solutions to over one million customers. The retail business helps customers turn their pension savings into lifelong retirement income. The corporate business helps defined benefit pension schemes manage their annuity liabilities, through buy-out, buy-in and longevity insurance arrangements.

The Risk Analytics, a team within LGRI, is responsible for the modelling of c£100bn of investments across the group’s balance sheet. Making use of the Algorithmics solution implemented within Legal & General for Solvency II & Economic Capital reporting and ALM, a multi-disciplinary team of experts ensures ongoing development and production of these calculations, optimising both the modelling capability and processes as well as delivering the relevant reporting information to a diverse user base.

The Senior Analyst within the Analysis & Validations team uses their experience & exposure to asset modelling to help analyse & validate the modelled results produced within Risk Analytics & communicate this out to all relevant stakeholders. Reporting to the Analysis & Validation Manager, this role assumes the responsibility of producing the analysis & validation reports supporting the financial results produced by Risk Analytics. Primarily focussed on the Solvency II & Economic Capital calculations, this role will also support the other team member in producing the analysis & validation of key Risk Management & MI metrics when required.

Role Duties

Provide analysis and validation on the asset movements supporting the quarterly Group capital calculation, supporting both Solvency II & Economic Capital disclosures

Support the analysis and validation on the asset movements supporting the quarterly/monthly Risk Management & MI metrics

Analysis and implementation of new asset classes & portfolios & subsequent effect on the business unit capital requirements

Define model expectations based on analysis of portfolio & market movements & their effects on the models used

Present validation reports to Business Unit Finance areas, Senior Management & Group Committees

Liaise with investment strategy teams to forecast capital requirements on investment decisions & assess portfolio capital efficiency

Advise team members and customers on complex issues surrounding risk management analytics

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

Qualifications:

Qualified/Nearly Qualified Actuary or CFA or Bachelor's degree in Actuarial Science, Finance, Math, Economics or related discipline

Knowledge:

Exposure to asset pricing and modelling with an understanding of the capital impact of asset stresses on different types of Insurance businesses

General knowledge of a wide range of asset classes covering FRB, FRN, ABS, Equities, Property, CPI/RPI bonds & derivatives (IRS, Inflation linked swaps, Options, Swaptions)

Knowledge of equity release products

Life-insurance experience in with-profits or annuities business divisions; alternatively experience in other equivalent risk-management organisations

Financial reporting processes and metrics employed in the insurance industry : Economic Capital, Solvency II, IFRS, ALM

Life and Pension products, Bulk and individual annuity products

Exposure to of Solvency II requirements, including Matching Adjustment knowledge

Skills:

Strong documentation experience to Solvency II standards

Strong oral and written communication skills

Proven ability to address and use initiative to deliver solutions to technical and business problems

Proven analytical skills with the ability to review results for reasonableness

Experienced use of Microsoft Excel, including VBA

Some exposure to Unix environments and Python

Knowledge of software development and / or support with experience of project life cycles

Knowledge of BAU and the necessary attitude towards Live Production systems

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, your hard work will be rewarded when you join us.