Transition Director

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 hiring a Transition Director.

In this role, you will lead and advise on all activities relating to the transition and on-boarding of PRT new business ensuring external client propositions are tailored to meet their needs and internal teams are informed and prepared for transactions. 

If you are a fully qualified or part qualified actuary looking to get involved in some of the largest transactions in risk transfer market then this role could be for you.

What you'll be doing

• Providing technical expertise and sign off on behalf of and across PRT Client Services in all matters including; legal, regulatory, reinsurance, new product development and operational. Ensuring any changes are implemented and communicated appropriately with minimum impact on client and customer service.
• Owning the servicing related responses to RFQs, ensuring they are always tailored to the client and are clear and persuasive. Understanding our prospective clients, including their strategic direction, de-risking plans and any particular transaction requirements specifically related to on-boarding, administration and servicing.
• Leading the Client/Customer servicing section of new business pitches and finals presentations to Trustees, companies and their advisors. Confidently presenting our proposition. Demonstrating knowledge of the prospective scheme, the Trustees and the de-risking project. Being prepared and able to respond effectively to challenging questions posed by Trustees, other stakeholders and their advisors.
• Leading the end to end implementation for a portfolio of large & complex transactions and provide to all Trustees, their advisers and to all interested parties within L&G appropriate documentation & MI demonstrating how the implementation project is being managed. Establishing and maintaining the correct structures to control and install the scheme in the most efficient and timely manner whilst ensuring the fair treatment of customers.
• Undertaking a Post Implementation Review for each scheme, meeting with or reporting to the Trustees and their advisers and administrators as appropriate. Maintaining an excellent knowledge of the Pension Risk Transfer proposition and processes along with any changes of pensions and de-risking legislation.
• Supporting the development of Pension Risk Transfer Implementation capability across all future active territories and UK business structures, as we look to utilise the experience and expertise in the UK to support future growth ambitions.
• Supporting the development of pensions technical and transition & onboarding skills and expertise across PRT Client Services by providing training, mentoring & coaching as required.
• Ensuring all internal customers and relevant third parties are kept updated in a timely fashion on any key information which impacts their processing to enable them to treat the end customer fairly.

What we're looking for

• Either already attained or studying towards appropriate project management qualifications, for example Prince 2.
• 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.
• 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; ability to understand high volumes of customer data as well as pension benefit calculations.
• Demonstrable experience in administering and on-boarding defined benefit pension schemes.
• 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.
• 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.
• Track record of building effective relationships in complex environments.
• Validated  background in adapting to trends and openness to new ideas
• Strong network in the pension risk transfer market

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.

If you join us, you’ll get access to some great benefits, including private medical insurance, 30 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You'll receive a car allowance of 12% of your annual salary, and you can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave. 

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings. 

The brand with the brolly is choosing today to change tomorrow.

Since 1836, we’ve grown to become one of the world's largest asset managers, homebuilders, pension providers and insurance brands. 

We’re all here to improve the lives of our customers, build a better society for the long term, and create value for our shareholders - helping to shape a better future for society and the planet.

We need people who share our ambitions, agility and entrepreneurial spirit to help us do it.

At L&G, you’ll find a balance that helps you be your best. Empowered by hybrid working, we’re supported by technology and workplaces that enable us to work effectively wherever we are. We come together in offices to collaborate and connect, and use time at home for individual, focused activities. And, when we achieve great things, we celebrate our success and reward strong performance.

Today, there’s over 10,000 of us, working towards our mission, with plenty of opportunities to grow your career as we grow L&G. Will you join us?

Great minds don’t have to think alike, so we welcome voices from all backgrounds. Bringing together people with different life experiences helps us build empathy with our customers and drive innovation.

We don’t just talk about it, we actively promote diversity and equitable opportunities for all. That means our employment decisions are made without regard to race, colour, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability or protected veteran status. In fact, we embrace every dimension of diversity to reflect the customers and communities we serve.

We think it’s important to create an inclusive environment where we can all belong, contribute and drive progress, where you can develop and grow, and be empowered. We want you to use your voice to help us build a better tomorrow.

We all work differently, and have different needs, which is why. we’re always open to discussing flexible working arrangements. Likewise, we’re committed to finding reasonable accommodations for candidates with specific needs during our recruiting process.

So whoever you are, wherever you are, whatever your story, we'd love to hear from you.