Actuarial Analyst - Collateral & Reinsurance Management

Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees. We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises. In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award-winning business.   

We’re recruiting for an Actuarial Analyst to join our Collateral & Reinsurance Management Team. We’re offering a competitive base salary, great benefits and full actuarial study support, as well as the opportunity to get involved with some exciting Post-Sale PRT work.

What you'll be doing:

• Supporting the Actuarial Manager in providing calculations relating to: 
  - Post-sale costings:- Final Premium calculations, buy-in pricing, augmentations and GMP equalisation. 
  - Collateral requirements:- Assessed for longevity reinsurance, funded reinsurance and similar arrangements.
  - Member option factors:- Reviewing member options basis and supporting the actuarial review of non-standard individual cases. 
• Helping to on-board new PRT reinsurance arrangements, including reviewing and feeding in comments to draft contracts and models.
• Ensuring the highest level of support is provided to internal and external clients including consultants, trustees and reinsurers.
• Supporting and checking the work of the Operations Analysts in our Collateral and Reinsurance Services team.
• Providing actuarial support to projects relevant to the wider PRT new business team.

Who we're looking for:

• Part-qualified actuary who is making good progress through the actuarial exams.
• Excellent knowledge of Defined Benefit Pension Schemes, and associated valuation techniques.
• The ability to work accurately with a high attention to detail.
• Strong communication and interpersonal skills.
• Strong time management skills and the ability to work to tight deadlines to ensure project delivery.

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer: 

• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes  
• Generous pension contribution  
• Life assurance   
• Private medical insurance (permanent employees only) 
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday 
• Competitive family leave 
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice 
• There are the many discounts we offer – both for our own products and at a range of high street stores and online   
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart 

Legal & General is a leading financial services organisation, named Britain’s Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.  

We’re one of the world's largest asset managers, homebuilders, pension providers and insurers. Connecting to form a unique business model which drives value for our customers and society. And enabling our people to create impact through work that is meaningful and valued.  

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.  

We strive to be open, mindful, and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs. It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose. 

If you’re open to find out more, we'd love to hear from you.