Actuarial Analyst – Policyholder Options

Legal & General (L&G) is a leading UK financial services group and major global investor. 

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders. 

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. 

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer. 

Our Institutional Retirement business is the UK’s longest-serving active bulk annuity provider.

Who we are 

Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day. Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023. 

Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us. 

We’re currently recruiting for an Actuarial Analyst to join our Actuarial Policyholder Options team within our multi-award winning PRT Division.

We’re offering a competitive salary, study support and a host of other great benefits as well as the opportunity to work for the most decorated insurer in the PRT market - who are widely viewed as the gold standard for protecting members' benefits for the long-term.

This is a unique opportunity, where you'll play a crucial role in supporting the governance and implementation of the actuarial methods and assumptions applicable to policyholder options and ensure that fair value is always provided.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate to find a work-life balance that works for you.

What you’ll be doing:

• Assisting in the development of actuarial methods for policyholder option calculations
• Reviewing and validating tools for policyholder option calculations
• Collaborating with colleagues to ensure delivery of system developments
• Conducting regular processes for bespoke implementation of our policyholder options basis
• Checking calculations for non-standard individual cases
• Ensuring pricing of policyholder options delivers fair value to customers
• Working closely with developers, end users, and change professionals
• Specifying and testing developments to member option calculation tools

Who we’re looking for:

• Part-qualified Pensions Actuary
• Experience in applying actuarial principles to UK Defined Benefit Pension Schemes
• Strong knowledge of member options and validation of actuarial systems
• Excellent analytical and problem-solving skills
• Ability to work collaboratively in a team environment
• Effective communication skills
• Detail-oriented with a focus on accuracy
• Proactive and able to manage multiple tasks efficiently

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:

• Participation in our annual performance-related bonus plan and share schemes  
• Generous pension contributions  
• Life assurance
• Private medical insurance
• 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 
• Discounts on a range of L&G products and those of high street stores and online retailers  
• Redesigned office spaces enabling collaboration and with your wellbeing at its heart

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. 

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 care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can. 

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.