Actuarial Analyst - Actuarial Policyholder Options

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.

Job Description

We’re looking for an Actuarial Analyst to join the Actuarial Policyholder Options team within our multi-award winning Pension Risk Transfer Division.

This is a great opportunity for a part-qualified pensions actuary who enjoys technical actuarial work, problem solving and working with others to improve tools, methods and outcomes for customers.

You'll support the governance and implementation of actuarial methods and assumptions relating to policyholder options, and help to ensure that calculations are robust, accurate and provide fair value.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate.

What you'll be doing:

• Assisting in the development of actuarial methods for policyholder option calculations
• Reviewing and validating tools used for policyholder option calculations
• Collaborating with colleagues to deliver system developments
• Conducting regular processes for bespoke implementation of the policyholder options basis
• Checking calculations for non-standard individual cases
• Ensuring policyholder option pricing delivers fair value for customers
• Working closely with developers, end users and change professionals
• Specifying and testing developments to policyholder option calculation tools

Who we're looking for:

• Part-qualified pensions actuary, who is making good progress through the IFoA Exams
• Experience applying actuarial principles to UK Defined Benefit pension schemes
• Good knowledge of member/policyholder options
• Experience validating, reviewing and testing actuarial systems or calculation tools
• Strong analytical and problem-solving skills
• Clear communication skills and a collaborative working style
• High level of accuracy and attention to detail
• Proactive approach with the ability to manage multiple priorities concurrently

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
• Actuarial Study Support
• 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 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

Additional Information

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 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.