Defined Benefit Pensions - Calculations Actuary

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 division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

We are looking for a dedicated and experienced Pensions Actuary to join the Onboarding Calculations Team within our Pension Risk Transfer (PRT) Client Services function.

This role is crucial in ensuring the efficient and effective management of manual calculation & claims work, as well as providing technical expertise to the wider team on complex benefit structures and other technical aspects of Defined Benefit Pension Schemes. If you have a strong background in Defined Benefit Pensions and enjoy leading projects, supporting and coaching more junior members of the team and working on complex tasks, we would love to hear from you.

This is a hybrid working opportunity which means you can split your working week between your home and our Glasgow offices to find a work/life balance that works for you.

What you'll be doing:

• Providing technical oversight to the work done by the Onboarding Calculations Team
• Producing and checking individual Defined Benefits quotations
• Leading and supporting projects to enhance and improve our processes
• Acting as a Subject Matter Expert for the team, and providing technical support as required
• Supporting Team Managers with the ongoing development and coaching of the wider team
• Producing and analysing regular MI to ensure the quality of our customer outcomes
• Working closely with other internal teams to optimise the delivery of operational outcomes
• Facilitating the operation of any additional activities (as required)

Who we're looking for:

• Qualified Actuary with significant DB pension administration experience
• Detailed understanding of defined benefit pension scheme structures and regulations
• Extensive experience with manual individual quotations and complex DB benefit structures
• Proven ability to deliver solutions to technical and business problems
• Strong customer and client focus with excellent relationship management and leadership skills
• Ability to manage tight timescales and prioritise work effectively
• Excellent communication skills and ability to support team development
• Knowledge of relevant legislation and compliance requirements

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
• Healthcare Plan 
• 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

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.