Defined Benefit - Senior Transition Consultant

Securing pensions over the long term can be a challenge for many businesses.

Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees.

We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises.

In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award winning business.  

We are currently looking for a Senior Transition Consultant to join our Transition team here at L&G.

In this role you will work on the development of ‘scheme specific’ transition plans for Pension Risk Transfer (PRT) transactions and provide these to Trustees, their advisers and to all interested parties within L&G to demonstrate how the transition project is being handled. This will involve working closely with stakeholders in PRT to establish and control the most efficient way to transition each scheme.

You will also analyse scheme benefits and data to draft legal agreements that allow all benefits to be properly administered by the Client Services administration teams. Ensuring that all teams within PRT have the correct benefit specification and data to guarantee that the customers receive their correct benefit entitlement and that schemes are funded accurately. This will include performing First Line peer reviews for team members on these documents..

You will also take responsibility for the progress of allocated schemes, including regular reviews, to ensure prompt and appropriate responses to customer communications and the provision of relevant information (both internally and externally). You will also ensure there is a full audit trail of all benefit and data items throughout the lifecycle of the onboarding process.

You will also support the PRT New Business Origination team and the Transition Managers in the relationship management of key stakeholders, including participation at client meetings and presentations, and attending site visits to gather an understanding of the quality of the data prior to transaction.

As well as supporting the ongoing development of the team by providing appropriate support and training to less experienced members of the team (in collaboration with the Transition Team Manager)

This is a hybrid working opportunity based from our Hove Offices, which will allow you to work flexibly between your home and the office to find a work/life balance that works for you.

• Pension Qualification such as CII or PMI or demonstrable equivalent experience.
• Knowledge of pension’s regulations for DB schemes, including a detailed understanding of the requirements for schemes in the process of de- risking, is essential.
• An understanding of the way benefits are structured and administered in Defined Benefit schemes is essential.
• Ability to provide an accurate and cost-effective service by getting it right first time.
• A strong understanding of the risks to the team, and the business, and a desire to actively takes steps to reduce these risks.
• Strong organisational and change management skills and attention to detail.
• Ability to manage tight timescales, prioritise own work and/or escalate if necessary.
• Clear written and verbal communication is essential.
• Highly customer focused and understands the need to maintain and improve relationships with both internal and external customers. This includes policyholders, scheme members, legislative bodies, third parties and your colleagues within L&G.

• Competitive Salary
• Holiday Allowance – 25 days plus all UK bank holidays
• Pension Contribution – L&G match any personal contributions up to 5% and provide a further contribution of 5% per month
• Private Medical Insurance
• Life Insurance
• Income Protection
• As well as access to a host of further Optional Benefits upon joining L&G

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.