Actuarial Manager - Member Options

We’re recruiting for an Actuarial Manager to join the Collateral & Reinsurance Management team within our PRT Department. We’re offering a competitive base salary, car allowance and a host of other great benefits as well as the opportunity to oversee the actuarial review of Merlin (our new in-house tool for calculating member options) including the testing of new functionality.  

What you'll be doing:

• Designing and implementing the actuarial review framework surrounding a new tool being developed to calculate member options
• Applying actuarial techniques to ensure the cost neutrality of all options reflecting, where necessary, methods of GMP equalisation
• Working closely with colleagues in London and Hove to agree timescales for the review of system developments - for example, to value new benefit structures or recognise legislative change
• Ensuring the highest standards of rigour and robustness are applied to ensure the accuracy of our automated systems in different circumstances 
• Conducting an annual review of the actuarial methods employed in the determination of actuarial factors
• Managing individuals tasked with assisting in the testing work under your governance, including the annual review
• Ensuring the pricing of member options are designed to deliver fair value to customers
• Evaluating any material changes to assumptions that underpin member options to determine whether these should be reflected in changes to the pricing

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. 

Who we're looking for:

• Fellow of the Institute and Faculty of Actuaries (FIA) with a minimum of 3 Years Post-Qualified Experience
• Demonstrable DB Pensions experience, including experience of member options
• Previous experience working with Actuarial systems would be highly advantageous

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
• 27 days holiday, plus public holidays. 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.