Commercial Manager

Life can sometimes be unpredictable, and it pays to plan ahead. Our aim at Legal & General Retail is to help our customers plan for the unexpected, achieve financial security for their tomorrow, and protect everything that’s important to them. To better understand our customers and meet their needs, we’ve brought our protection, retirement income, savings, lending and advice, fintech and mortgage businesses under one umbrella. Created at the start of 2022 through the merging of our long-standing and trusted retail retirement and insurance businesses, we’re a fast-growing division with big, customer-centered ambitions. 

Your role at a glance

The Commercial Manager will play a pivotal role in driving the Mortgage Services business revenue generation and growth strategies. This role will be responsible for overseeing all commercial activities, optimizing financial performance through careful analysis, and ensuring the effective collaboration between various departments within LGMS to maximize profitability.

The role will also contribute to business success by identifying new business opportunities, negotiating commercial terms, and working with the wider internal business departments to support their commercial thought processes.

What you'll be doing

• Work closely with key stakeholders across the LGMS business to design and develop products and propositions that meet the needs of our customers, whilst ensuring that the commercial structure delivers returns acceptable to the business.
• Act as the key contact for the LGMS business regarding all commercial related matters, providing appropriate advice and guidance where required and develop the assessment and approval process for setting commercial terms for new and existing distribution deals.
• Take the lead in pricing our products and propositions across the LGMS business, whilst liaising closely with Finance colleagues to ensure the correct profit assumptions are used as part of commercial negotiations.
• Work closely with Finance to deliver granular profitability metrics at partner level, whilst periodically reviewing partner performance against terms agreed during commercial negotiations.
• To manage and develop high quality assessment and approval processes for discretionary spend as well as the ensuring best practice benefit realisation processes are in place to track and maximise performance results.
• To lead the business and drive targeted activities to improve efficiency, reduce cost and improve performance through the utilisation of insight gained via analysing core business MI and data systems.
• Work with Distribution teams to develop and communicate a distribution strategy for LGMS products and or propositions that are appropriate for the target market and incorporates a consideration for vulnerable customers present within the target market.
• Escalate any concerns with another firm in the distribution chain that may not be complying with the Consumer Duty (as applicable to retail customers) to senior management for consideration on whether to notify the FCA.

• Business degree or similar qualification
• Accountancy / Mathematics background preferred or relevant experience
• Strong understanding of the UK Mortgage market
• Demonstrating a track record of revenue growth
• Strong negotiation skills
• Excellent stakeholder management skills

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.

If you join us, you’ll get access to some great benefits, including private medical insurance, 27 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave. 

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings. 

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.