Defined Benefit - Senior Transition Manager

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 Manager to join our Transition team here at L&G.

In this role you will take ownership of the end to end scheme implementation and on-boarding of a portfolio of Pension Risk Transfer (PRT) transactions. You will also support the PRT Business Development team in securing and maximising new business opportunities by providing technical expertise with regards to the implementation process and ensuring that milestones within the project plan are achieved in a way that takes into account the fair treatment of all customers.

You will also take responsibility for liaising with trustees, brokers and administrators, to agree a timescale and process for verifying data to ensure that benefits are costed accurately and reflect the legal liabilities being taken on by L&G. This will include establishing and monitoring actions against the agreed timetable and putting remedial actions in place if required. As well as undertaking a Post Implementation Review for each scheme, and meeting with or reporting to the Trustees, their advisers and administrators as appropriate.

You will also maintain an excellent knowledge of the Pension Risk Transfer proposition and processes of L&G along with any changes to pensions and de-risking legislation to further support the development of our Pension Risk Transfer Implementation capabilities across our UK business structures and future active territories.

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.

PLEASE NOTE - Whilst this role is advertised as Full Time, we would also welcome applications from people who are seeking Part Time opportunities.

• PMI Qualification. 
• Prince 2 Practitioner.
• Demonstrable experience in administering and on-boarding Defined Benefit (DB) pension schemes.
• Knowledge of pension regulations for DB schemes, including a detailed understanding of the requirements for schemes in the course of wind-up, and the interaction with PPF and FAS.
• An in-depth understanding of buy-out, buy in and an understanding of longevity insurance and reinsurance products and propositions.
• A deep understanding of systems and processes required to meet annuity commitments. This includes processes around data/benefit input, FR reconciliation, inception costings, administration processes and customer communication.
• Good problem solving, analytical and financial skills; with an ability to understand high volumes of customer data as well as pension benefit calculations.
• Strong experience in leading and/ or participating in beauty parades and presenting to Trustees and Advisers.
• An understanding of the current challenges and opportunities in the Pension Risk Transfer market would be highly advantageous.
• Strong organisational and change management skills and attention to detail, with a demonstrated ability to prioritise and work independently, managing a high-volume of tasks and deadlines.
• A track record of building effective relationships in complex environments.
• Demonstrable background in adapting to trends and openness to new ideas.

• Competitive Salary
• 12% Car Allowance
• Holiday Allowance – 30 days plus all UK bank holidays
• Pension Contribution – L&G match any personal contributions up to 5% and provide a further contribution of 10% 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.