Group Capital Aggregation Actuary

Helping over ten million people around the world manage their savings, retirement plans and life insurance requires a lot of people behind the scenes.  It’s up to us in L&G Group functions – which includes our tech and digital teams, Group Finance, HR, Risk and Corporate Affairs – to provide the essential support services that all areas of the business need, here in the UK and overseas. Simply put, we enable everyone at Legal & General to do what they do best. That means we’re helping to improve our customers’ lives and contributing to the success of the business every day.  

We’re recruiting for a Capital Aggregation Actuary to join our Group Actuarial function, in a role that focuses on aggregating the SCR for both L&G Group and LGAS (Legal & General Assurance Society). We’re offering a competitive base salary, car allowance and a host of other great benefits as well as the opportunity to get involved with some interesting capital aggregation work, including the underlying methodologies used to determine SCR.

What you'll be doing:

• Managing the solvency estimate process for L&G Group and LGAS. Which will include performing appropriate checks on the solvency estimate before it is circulated to identify and carry out development work as required to improve the process and ensure that stakeholder needs are met.
• Managing the process of aggregating the SCR for L&G Group and LGAS, including preparing Analysis of Change to support validation and provide business insights. You will also validate and explain changes in the diversification benefit achieved by L&G Group over time.
• Managing the calibration of the Group correlations matrix, operational risk capital for the LGAS entity and operational risk capital held outside of Business Units. This will include monitoring the appropriateness of the methodology used in these calibrations and co-ordinating and consolidating submissions across business units.
• Supporting L&G Group’s response to regulatory exercises, including the Insurance Capital Standard and Life Insurance Stress Testing. This will include liaising with internal stakeholders to ensure that quality and timely submissions are made to regulators.
• Contributing to the direction of travel for improvements in the team. Using creative thinking to generate ideas to improve results and processes. You will also make professional judgements relevant to complex and developing actuarial matters using expert or specialist actuarial knowledge and work with others both within the team and outside of the team to implement process improvements and model changes to enhance efficiency and/or improve accuracy.
• Establishing and maintaining relationships with Business Units in order to represent the department appropriately and to recognise the impact and react accordingly to any relevant change, which could impact on own team and departmental processes.

Who we're looking for:

• Qualified Life Actuary
• A detailed understanding of SII Principles and how they apply in practice
• Knowledge of actuarial liability reporting and analysis across various metrics and the ability to identify likely relative movements across these metrics
• A detailed understanding of financial and insurance risk management, including a deep practical and technical knowledge of the drivers of risk capital
• Problem solving skills with the ability to apply fresh and creative thinking and to develop new strategies
• A pragmatic approach with the ability to make sound judgements and appropriate decisions with limited information
• Ability to be resourceful in resolving the challenges of producing results on time and to the required quality
• Ability to communicate results in a clear and compelling manner to a range of stakeholders and tailoring this information to meet the needs of the required audience

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 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.