PRT Post Sale Pricing Director

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 a Qualified Actuary to join our award-winning Pension Risk Transfer (PRT) business as a Post Sale Pricing Director within the Collateral & Reinsurance Management (CRIM) team.

In this role, you’ll lead the delivery of post-sale pricing projects for Bulk Annuity contracts, ensuring technical accuracy, strong governance and efficient execution across a wide range of activity. You’ll also provide hands-on leadership, coaching and development for a high-performing team.

Working closely with colleagues across the PRT function, you’ll help review and prioritise post-sale pricing activity, support BPA term negotiations relating to contractual post-sale pricing matters, and proactively manage the onboarding and ongoing oversight of reinsurance arrangements and longevity insurance policies.

This is a hybrid working opportunity, which will allow you to work flexibly between your home and our Central London office, to help you find a work-life balance that works for you.

What you'll be doing:

• Providing actuarial sign-off for post-sale pricing projects, including Final Premium calculations, augmentations/restructures, GMP Equalisation exercises and surplus costings
• Developing post-sale pricing processes to improve efficiency, reduce calculation timescales and support higher case volumes
• Leading, coaching and supporting a team to deliver high-quality work in an accountable and inclusive way
• Challenging existing approaches and continuously raising standards across delivery, controls and ways of working
• Supporting the PRT Origination team with BPA terms, drafting and client negotiations linked to post-sale pricing activity
• Ensuring robust control frameworks are in place across all post-sale pricing work
• Leading case prioritisation and resource planning in close partnership with the Transitions team
• Managing reinsurance arrangements and longevity insurance policies where required

Who we're looking for:

• A Qualified Actuary (FIA or equivalent designation)
• Extensive knowledge of post-sale pricing processes and Bulk Annuity contract terms
• Strong technical judgement, analytical capabilities and attention to detail
• Experience leading actuarial work, setting standards and making sound decisions under deadline pressure
• A track record of improving pricing, reinsurance or wider actuarial operating models
• Strong people leadership skills, including work allocation, performance management and team development
• The ability to influence senior stakeholders and communicate complex information clearly
• Post-Sale Underwriter status would be highly advantageous, but is not essential

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
• 30 days holiday plus bank holidays
• 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, 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.