Company Description
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.
Job Description
We’re recruiting for a Reporting Actuary to join our Institutional Retirement division here at L&G.
In this role you will be responsible for the production of effective, efficient and accurate reporting of New Business within the Institutional Retirement Finance team. You will also provide high-quality results, supporting analysis & commentary and make certain that appropriate controls are in place to ensure sound actuarial management and control of risks.
This is a hybrid working opportunity that will allow you to work flexibly between your home and our Central London Offices, to find a work life balance that works for you.
What you'll be doing:
- Owning the output of specified New Business financial metrics and analysis, including the delivery of these in a timely and accurate manner.
- Proactively supporting other reporting actuaries to ensure that we meet the needs of our customers. Ensuring that reporting decisions are documented and receive the appropriate level of governance.
- Representing Institutional Retirement Finance for financial reporting and related new business MI within the company appropriately. This includes building and maintaining effective relationships with stakeholders including PRT Pricing, PRT Client Services, Group Finance Reporting Centre, Technical Accounting, other Institutional Retirement Finance teams and auditors.
- Ensuring that communication is clear, concise and tailored to the needs of the relevant stakeholders and that deliveries continue to meet the ongoing needs and quality expected by those stakeholders.
- Effectively planning activities required for assigned deliveries, including allocating resources to meet the needs of the stakeholders. This will include maintenance and development of reporting processes too.
- Taking direct responsibility for managing junior employees and being a role model to employees at all grades across the wider reporting team. This will include active engagement in coaching and motivating employees in a manner consistent with the Company’s policies and procedures.
- Leading the development, implementation and maintenance of the team’s reporting and analytic systems, and processes. Ensuring that systems and processes are robust, with any associated risks assessed and appropriately controlled.
- Demonstrating an attitude of continuous improvement, by taking responsibility for improving the efficiency and effectiveness of specified areas within the team.
- Support the Head of New Business Reporting and other senior reporting actuaries in the prioritisation and implementation of system, process and methodology changes as required for the ongoing production of financial results and analysis. Which will include working closely with other teams within Institutional Retirement Finance and teams such as PRT, Client Services and Group Finance to support the wider change agenda.
- Demonstrating a risk and control mind set through proactive identification of control weaknesses, and ensuring that all such weaknesses, as well as other control observations and issues are remediated quickly, sustainably, and effectively. And working with the Financial Controls team to ensure that relevant risk and control related documentation is good quality and up to date.
Qualifications
Who we're looking for:
- Qualified Actuary with previous experience in Life Insurance.
- A good understanding of; Reporting Metrics (such as IFRS 17 and Solvency UK), Bulk and Individual Annuity products, the UK Finance Sector, Risk and Regulatory requirement and Insurance Accounting.
- Previous IFRS 17 and Solvency UK Reporting experience.
- Strong analytical skills with the ability to review results for reasonableness.
- Previous team management, stakeholder management and mentoring experience.
- Good communication and interpersonal skills.
- Experience in reviewing processes and implementing improvements.
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 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
- 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
Additional Information
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.
