Matching Adjustment Advisor/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 business is the UK’s longest-serving active bulk annuity provider.

Who we are 

Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day. Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023. 

Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us. 

We’re recruiting for a Matching Adjustment Advisor/Actuary to join the MA team in our Institutional Retirement division.

In this role, you’ll work collaboratively across finance, actuarial and wider business functions to strengthen our Matching Adjustment (MA) permissions, enhance key processes and help ensure ongoing MA compliance. You will also directly support our New Business, Structuring and Investments teams, who rely on high‑quality MA advice to support delivery.

This role is a Hybrid working opportunity, which will allow you to split your working week between your home and our London office to find a work- life balance that works for you.

What you'll be doing:

• Collaborate with wider teams to make sure that changes to MA requirements are implemented effectively
• Run and improve the MA attestation framework – this is an annual process to confirm to the Group CFO that the MA benefit within our Solvency II balance sheet is appropriate
• Run and improve the MA confirmation framework – this is an annual process to test and evidence MA compliance
• Monitor MA metrics and arrange for MA application data to be updated
• Review and improve MA controls, run the MA escalation framework, review and resolve potential breaches
• Develop and improve MA ORSA processes
• Make sure that MA related risk reporting is integrated and streamlined

Who we're looking for:

• A qualified actuary, accountant, or CFA (we are also open to part-qualified if they have suitable relevant experience)
• Experience working in Life Insurance/Pensions
• Knowledge of Solvency II and the ability to understand the MA regulatory framework in detail and apply it to business needs
• Strong written and verbal communication skills, including structured report writing
• Ability to build and maintain effective stakeholder relationships, including with regulators
• A collaborative approach and confidence influencing others
• Strong analytical capability with attention to detail and a commitment to producing accurate outputs
• Curiosity about the wider business and a delivery‑focused mindset

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
• At least 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.