Defined Benefit - Transition Manager
- Hove
- Full-time
- Defined Benefits
__jobinformationwidget.freetext.ExternalReference__
1782_14365
Legal & General 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 currently looking for a Transition Manager to join our DB Transition team here at L&G.
In this role you will manage the end to end scheme implementation and on-boarding of new Pension Risk Transfer (PRT) business, as well as assisting in maximising both new and existing business opportunities at tender stage.
You will also lead on the development of ‘scheme specific’ transition plans to establish and control the most efficient way to transition each scheme into L&G.
This is a hybrid working opportunity based from our Hove Offices, which will allow you to work flexibly between your home and the office to find a work/life balance that works for you.
What you'll be doing:
- Managing the complete end to end scheme implementation and on-boarding of a portfolio of new Pension Risk Transfer (PRT) business.
- Supporting the PRT Business Development team where required to assist in maximising both new and existing business opportunities at tender; including beauty parades, performing administration risk assessments, creating benefit specifications and leading site visits, as well as producing opportunity specific project documentation and marketing material.
- Leading on the development of ‘scheme specific’ transition plans for a portfolio of transactions and provide these to all Trustees, their advisers and all interested parties within L&G to demonstrate how the transition project is being handled. This will involve working closely with stakeholders in PRT to establish and control the most efficient way to transition each scheme.
- Liaising with trustees, brokers and administrators, to agree a timescale and process for verifying data to ensure that benefits are costed accurately and reflect the legal liabilities being taken on by L&G. This will include establishing and monitoring actions against the agreed timetable and putting remedial actions in place if required. As well as undertaking a Post Implementation Review for each scheme, and meeting with or reporting to the Trustees, their advisers and administrators as appropriate.
- Maintaining an excellent knowledge of the Pension Risk Transfer proposition and processes of L&G along with any changes to pensions and de-risking legislation to further support the development of our Pension Risk Transfer Implementation capabilities across our UK business structures and future active territories.
Who we're looking for:
- Pension Qualification: Preferably holding or working towards PMI.
- Demonstrable experience in administering and on-boarding Defined Benefit (DB) pension schemes.
- Knowledge of pension regulations for DB schemes, including a detailed understanding of the requirements for schemes in the course of wind-up, and the interaction with PPF and FAS.
- An in-depth understanding of buy-out, buy-in and an understanding of longevity insurance and reinsurance products and propositions.
- A deep understanding of systems and processes required to meet annuity commitments. This includes processes around data/benefit input, FR reconciliation, inception costings, administration processes and customer communication.
- An understanding of the current challenges and opportunities in the Pension Risk Transfer market.
- Keeps up to date with any legislative changes and understands the legal framework around de-risking and buy in/ buy out contracts (with an understanding of Part 7 Transfers being highly desirable)
- Highly customer focused and understands the need to maintain and improve relationships with both internal and external customers. This includes policyholders, scheme members, legislative bodies, third parties and your colleagues within L&G.
- Strong organisational and change management skills and attention to detail, with a demonstrated ability to prioritise and work independently, managing a high-volume of tasks and deadlines.
- Proficient in using Microsoft products, especially Excel.
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, plus 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 group and major global investor, 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 aim to build a better society for the long term by investing our customers’ money in things that make life better for everyone.
If you join us, you’ll be part of a welcoming 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.
If you’re open to find out more, we'd love to hear from you.
Great news! We will let you know when a new job like this has been added!
VideoUrl
https://youtu.be/8ZYGBwImH08
Working for us
Here, your actions and ideas come to life in exciting and meaningful ways. Ours is a story of evolution, a journey we can go on together. Ours is a culture of trust and collaboration, genuinely caring about society and one another. At Legal & General, your story will be anything but familiar.
Read MoreOur businesses
There’s so much more to us than meets the eye. We’re insurers, investors, builders, city-regenerators and green technology champions. And whatever the future holds, our people’s knowledge, skill and passion will mean we’re placed to make a real difference to society.
Read MoreSimilar roles
Salary
Location
Cardiff
Business Unit
Legal & General Retail
Job Family
Marketing
Location
Cardiff
Full Time/Part Time
Full-time
Permanent/Fixed Term Contract
Permanent
Description
We’re recruiting for a Operational Member Communications Product Owner to join us. You'll be Managing the operational communications backlog, owning and defining the roadmap based on the requirements
Reference
bbc1b613-3687-4d61-aa51-34fb09a4042a
Expiry Date
01/01/0001
Salary
Location
CARDIFF
Business Unit
Legal & General Retail
Job Family
Underwriting & Claims
Location
Cardiff
Full Time/Part Time
Full-time
Permanent/Fixed Term Contract
Permanent
Description
We’re recruiting for a Enhanced Annuity Underwriter to join us. We’re offering a competitive base salary. The role is responsible for providing an excellent Underwriting service that is trusted, valu
Reference
f483cd2a-e5d2-4e06-a35e-7b47eb8034b4
Expiry Date
01/01/0001
Salary
Location
London
Business Unit
Legal & General Group Functions
Job Family
Supply Chain
Location
London
Full Time/Part Time
Full-time
Permanent/Fixed Term Contract
Permanent
Description
We’re recruiting for a Supplier Relationship Manager to join us. We’re offering a competitive base salary and good benefits package.What you'll be doing:Managing relationships with Professional Servic
Reference
61a01c31-3519-41cc-8c98-1a7f9e4aaaa6
Expiry Date
01/01/0001
Our latest posts
Teaser
Future TalentContent Type
BlogPublish date
11/01/2024
Summary
Internships are a pivotal moment in a student’s career, providing a chance to step into the professional world, gain hands-on experience, and discover potential career paths. At Legal & Gen
by
Enrique Rodriguez
Teaser
GeneralContent Type
BlogPublish date
11/01/2024
Summary
As the world of finance continues to transform, so too does the role of underwriters. At Legal & General, we understand that the underwriting profession has evolved far beyond traditional risk a
by
Enrique Rodriguez
Teaser
Customer Service & SalesContent Type
BlogPublish date
11/01/2024
Summary
What is a career in retail? A career in retail at Legal & General offers a unique opportunity to shape brighter financial futures for millions of people. Whether it’s through supporting retire
by
Enrique Rodriguez
Teaser
Future TalentContent Type
BlogPublish date
10/14/2024
Summary
At Legal & General, we’re passionate about nurturing talent and empowering the next generation of finance professionals. We recently caught up with Hafsah, one of our Finance Graduate Programme
by
Enrique Rodriguez
Teaser
Our peopleContent Type
BlogPublish date
10/14/2024
Summary
At Legal & General, we believe that great leadership is about more than just delivering results - it's about nurturing teams, fostering diversity, and driving innovation. We sat down with one o
by
Enrique Rodriguez
Teaser
Customer Service & SalesContent Type
BlogPublish date
09/25/2024
Summary
At Legal & General, we take pride in our talented professionals who are dedicated to making a difference in the world of pensions and investments. Take Jesal, a leader in Defined Contribution (D
by
Enrique Rodriguez
Teaser
Technology, Digital & DataContent Type
BlogPublish date
09/18/2024
Summary
At Legal & General, we are committed to fostering an inclusive environment where diversity thrives and leadership positions are accessible to people from all backgrounds. Claire Hazle, our interim
by
Enrique Rodriguez
Teaser
Finance & ActuaryContent Type
BlogPublish date
09/17/2024
Summary
Navigating the intricate world of finance as an actuary requires a blend of analytical abilities, communication skills and adaptability. At Legal & General, these qualities are not just recognised
by
Enrique Rodriguez
Teaser
Customer Service & SalesContent Type
BlogPublish date
08/28/2024
Summary
Good customer service is such a big factor in customer retention. It makes our Customer Service Team a very important and vital part of our business. On average, 65% of customers have reported chan
by
Enrique Rodriguez
Teaser
InvestmentsContent Type
BlogPublish date
08/09/2024
Summary
Did you know that the global asset management industry manages over $100 trillion in assets? This staggering figure highlights the immense opportunities within this field globally. We are one of Eu
by
Enrique Rodriguez