Company Description
Legal & General Reinsurance is a Bermuda-based specialist life reinsurer. We are the global reinsurance hub of Legal & General Group Plc, a multinational financial services company established in 1836, and we provide life reinsurance solutions to clients in the UK, Europe, the US and Canada.
Job Description
The Capital Management Actuary will play a critical supporting role in executing L&G’s Bermuda-based business strategy. L&G currently operates three commercial reinsurance entities based in Bermuda, each facing different liabilities and markets. The Role Holder will be required to work across all three entities, which will entail gaining in-depth knowledge and experience across US, UK, Canadian and European products and regulatory frameworks.
Please Note - this role must be based in Bermuda and business travel may be required to the UK or US occasionally.
What you'll be doing:
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Assisting with the oversight of internal reinsurance arrangements, ensuring that contractual obligations are met and represent the interests of our Bermuda entities. This will involve collaborating with various other teams around the Group to structure and implement new arrangements
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Managing the Companies’ regulatory balance sheets and recommending actions to ensure solvency remains within risk appetite. This includes providing insights into the capital efficiency of strategic initiatives and new business opportunities
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Providing actuarial and capital management support for Bermuda-oriented ad-hoc investigations and strategic projects. This could involve working as a committed project team member for several months on-end
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Reviewing pricing assumptions for new business and recommending adjustments to ensure consistency with the Group’s Pricing Standards
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Producing Management Information packs for Board and Committees
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Recommending assumptions and methodology for the annual CISSA exercise and overseeing the CISSA process to ensure the CISSA capital remains within risk appetite
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Assisting in setting the assumptions used in the Bermuda Economic Balance Sheet (“EBS”) valuations
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Reviewing adequacy of EBS Technical Provisions and assisting in annual certification to the Bermuda Monetary Authority
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Ensuring the ongoing integrity of actuarial valuation systems and models and effectiveness of relevant actuarial controls
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Delivering effective written and verbal communication, including report writing and presentations, to all relevant parties to support effective decision making and manage the smooth delivery of business objectives
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Developing and maintaining collaborative and effective relationships at all levels within the organization, across the Group as well as externally. This will include actively promoting L&G Re’s culture of ownership and acting as a role model for the L&G behaviours (Challenge Positively, Commit Together, and Act Decisively)
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Ensuring that appropriate professional standards are maintained, including meeting deadlines and maintaining appropriate records that meet internal and regulatory requirements
Qualifications
Who we're looking for:
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Recently qualified Life Actuary.
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Preference for actuarial experience in UK, US, European and/or Canadian pension risk transfer business.
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Demonstrated ability to understand, apply, interpret, and effectively communicate technical aspects of complex financial and business transaction information
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Demonstrated ability to design and implement efficient, robust and effective actuarial processes, incorporating appropriate controls
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A commercial awareness and understanding of the wider business, as well as the economic, market and regulatory environment in which L&G Re operates
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A proven track record of excellent relationship management with peers and senior management, ideally including international stakeholder management in a global organisation
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Ability to apply strategic judgement and pragmatism in order to achieve business aims
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Ability to take a balanced view, taking on board the views of others and potential risks, combined with the personal confidence to take decisions and to see them through
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.
