Senior Actuarial Analyst - Collateral & Reinsurance Management

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 looking for a Senior Actuarial Analyst to join our Collateral & Reinsurance Management team, which is the team who support the ongoing management of Pension Risk Transfer (PRT) arrangements.

By working closely with reinsurers, trustees, consultants and internal colleagues you’ll help ensure the smooth delivery of actuarial calculations and maintain high‑quality operational oversight across collateral arrangements, longevity insurance and reinsurance activities.

You’ll enjoy a collaborative environment, full study support, and the flexibility to balance working from home with time in our London office.

We welcome applicants from a range of professional backgrounds, but see this being an ideal opportunity for those with previous experience in Defined Benefit pensions, either from working within another de-risking provider or a pension consultancy environment.

What you'll be doing:

• Providing post‑sale actuarial monitoring and calculations relating to buy‑ins, buyouts, reinsurance, longevity insurance and collateral arrangements
• Supporting Actuarial Managers by delivering accurate and timely actuarial work for internal and external stakeholders, including trustees, consultants and reinsurers
• Checking and guiding the work produced by Operations Analysts within the Collateral and Reinsurance Services team
• Contributing actuarial expertise to projects across the wider PRT New Business function
• Maintaining strong governance and documentation practices to ensure high standards of accuracy and compliance
• Building collaborative relationships with colleagues and partners to support smooth delivery of post‑transaction activities
• Applying analytical problem‑solving to improve processes and enhance customer outcomes
• Supporting continuous improvement by sharing knowledge and contributing to a positive team environment

Who we're looking for:

• A part qualified actuary making strong progress with IFoA exams
• Experience gained in a pension consultancy, life insurer or de risking provider environment (highly preferable)
• Ability to work accurately and efficiently, maintaining high standards under time pressure
• Strong communication and interpersonal skills, with confidence engaging internal and external stakeholders
• Knowledge of Defined Benefit pension schemes and valuation techniques
• Strong organisational and time management abilities, supporting timely project delivery
• A proactive approach to problem solving, with curiosity for improving actuarial processes
• A collaborative mindset and willingness to support colleagues across the wider team

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 25 days holiday, plus public holidays, 26 days after 2 years’ service. 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
• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

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.