Longevity Risk Actuary

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’re recruiting for a Longevity Risk Actuary to join our Institutional Retirement Division here at L&G. In this role you will be responsible for the production and communication of pricing, reporting and capital assumptions for longevity in both the UK and international retirement (primarily annuities) business.

This role would suit a qualified actuary with an keen eye for detail, who has the ability to run individual projects independently and communicate effectively to a range of stakeholders.

This is a hybrid working opportunity which will give you the flexibility to work between your home and our London Offices in Moorgate and we are open to applications from full time candidates and part time candidates (working a minimum of 4 days per week).

What you'll be doing:

• Developing and communicating longevity assumptions, analytics and solutions for the purposes of pricing, reporting and capital (for both UK and international territories).
• Providing stakeholder information and taking responsibility for assumption or analytical based projects.
• Providing mortality support and developing new initiatives across pricing, reporting and capital as and when required by the business and helping stakeholders to define the problem and develop scope of analytical projects, providing useful insight to drive decisions.
• Providing concise, clear and well communicated summaries of all analysis and presenting these findings to key stakeholders (ensuring that recommendations are approved by the business) and continuing to educate/inform stakeholders of these findings.
• Presenting, as and when required at governance committees to achieve sign-off for assumptions proposals.
• Staying abreast with, and where appropriate contribute to, external longevity risk developments, ensuring that Legal & General’s longevity assumptions remain appropriate.
• Developing appropriate models and tools for the analysis of longevity risk trends and uncertainty.
• Taking responsibility for the accuracy and completeness of analyses conducted for assigned mortality related projects, and associated reports, ensuring appropriate actuarial controls are in place.
• Supporting the wider longevity team by providing technical advice and guidance to colleagues. Ensuring cohesive working and consistent sharing of knowledge across the different work strands within the team
• Taking responsibility for the effective line management and personal development of direct reports within the team (circa 2 headcount)

Who we're looking for:

• Qualified Actuary with broad Life or Pensions experience across areas such as pricing, reporting and capital.
• Experience in a commercial environment. Including practical experience of model development and the application of statistical methodologies.
• Longevity experience with specific knowledge of base and trend mortality and common practices would be highly desirable, but is not essential.
• Experience of providing analysis and internal & external reporting relating to mortality data sets and understanding the impact on mortality and mortality measures (life expectancy, annuity values, capital and reserving impact) would be highly desirable, but is not essential.
• Understanding of key actuarial concepts relating to demographic assumption setting and mortality analyses.
• Excellent written, oral and presentation skills to liaise with and persuade internal and external stakeholders effectively.
• Advanced Excel skills and the ability to break down complex problems and systematically solve them. Knowledge of coding languages such as R and Alteryx would be desirable, but is not essential.
• Ability to demonstrate the application of actuarial techniques, principles and methods to solving both routine and unstructured problems. Including putting forward ideas, identifying and acting upon opportunities to enhance the performance of the team and contribute to the wider department by presenting and implementing creative solutions to complex problems.
• Ability to plan and manage projects for either themselves or the team, setting out the purpose, objectives, milestones, deliverables, and timescales. This will include independently tracking progress, providing issue resolutions and ensure delivery of requirements to the specified quality and within budget.
• Ability to effectively manage staff, and also work well with peers, providing peer review to enable delivery of projects in a timely manner. 

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: 

• A competitive base salary, plus car allowance
• 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.