Commercial Director - Group Protection (12 month fixed term contract)

Legal & General supports the savings, protection and retirement needs of around 14 million people, through our portfolio of retail and workplace businesses.

Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages and financial advice on our range of lending products.

We are the UK’s number one individual life insurer, and also provide Group Protection products for employers – all helping people to plan for the unexpected. We support home buying through our Mortgage Club – the UK’s largest – and our award-winning Surveying Services team. And our fintech team finds and supports socially useful start-ups and scale-ups working in the workplace, home, insurance and wealth areas.

Joining us means helping create brighter financial futures for all our customers. 

We’re recruiting for a Commercial Director, Group Protection on a 12-month fixed term contract (maternity cover) to join us. As the Commercial Director, you’ll be leading the strategic development, pricing, underwriting, marketing and sales of all Group Protection. You will have overall responsibility for the full P&L of Group Protection so that profit targets and good customer outcomes are achieved through the appropriate commercial choice of strategy, product / service mix and target market selection.

What you'll be doing:

• Lead the development and delivery of pricing & underwriting strategies, product features, sales practices and marketing activity for new and existing products and features, that enable growth in market share whilst maintaining profitability and, ensuring customers’ interests are at the centre of the business and delivering good customer outcomes.
• Oversee regular demographic and financial experience investigations, feeding the results into pricing strategy and assumption setting for financial reporting. 
• Be responsible for the scheme underwriting function across Group Protection, ensuring that underwriting guidelines and processes are appropriate, and that underwriting staff are properly trained.
• Ensure that the terms and benefits of reinsurance treaties are suitable for our business. Consider new and alternative options to maximise profitability and return on capital, whilst ensuring good customer outcomes are achieved.
• Be accountable to produce MI for the key performance drivers of the business, ensuring that this is constantly evolving for most effective use by the business.
• Ensure appropriate monitoring and controls are implemented and developed to guarantee appropriate levels of policy and accounting data integrity for actuarial reporting.  You’ll be responsible for ensuring system developments are appropriate from a pricing and underwriting perspective and also for the wider business.
• Be responsible for leading and managing the team.
• Identify and document risks and issues relating to the existing portfolio and new business. Monitoring, reporting and escalating in line with L&G risk policy.

Who we're looking for:

• You must be a Qualified Actuary with knowledge of protection products and preferably group risk products.
• You will need experience of achieving P&L results and initiation & leading activities across a range of functional areas in the wider business.
• an understanding of actuarial techniques for analysing experience and setting pricing and reporting assumptions.
• You will need to demonstrate a commercial attitude and have good inter-personal skills as well as strong stakeholder management experience.
• You’ll have an understanding of actuarial techniques for analysing experience and setting pricing and reporting assumptions.
• You will need to demonstrate the ability to understand and challenge detailed analysis quickly, and present finding to both technical and non-technical audiences.

• You will need to be able to balances strategic goals with immediate priorities, setting clear targets to achieve progress against both.
• You will need to be a people leader, who is able to take change in your stride.

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
• A company car allowance
• Life assurance  
• Private medical insurance (permanent employees only)
• At least 30 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
• Recommend L&G as a wonderful place to work and earn referral money if someone you know joins us
• Access to hundreds of discounts, both for our own products and at a range of high street stores and online  
• Flexible working options, including recently redesigned and award-winning offices which are great spaces to connect and collaborate and have your wellbeing at the heart

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