Company Description
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 Institutional Retirement business as Head of New Business Reporting.
In this role you will gain strong visibility across Institutional Retirement, as well as the wider Group and will have responsibility for leading a team of four, the end-to-end ownership of new business reporting processes and responsibility to provide robust oversight of both new business and wider reporting outputs across IFRS and Solvency UK / Solvency II.
You will also work closely with our Planning & Analysis, Finance Central Services and PRT teams to provide an additional and necessary review layer for wider reporting outputs.
This is a hybrid working opportunity that means you can split your working week between your home and the office, to find a work-life balance that works for you.
What you'll be doing:
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Leading the delivery of new business reporting metrics across IFRS and Solvency UK / Solvency II
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Managing, coaching and developing a team of talented actuarial analysts
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Reviewing and challenging reporting outputs produced by Finance Central Services for Institutional Retirement
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Ensuring that reporting results, assumptions, policy data and methodology are accurate, controlled and well understood
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Building strong relationships with PRT Pricing, PRT Client Services, Planning & Analysis, Technical Accounting, Auditors and wider Finance teams
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Explaining reporting results, movements and key messages clearly to senior stakeholders
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Driving improvements across reporting processes, systems, controls and documentation
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Supporting change activity across reporting methodology, processes and systems
Who we're looking for:
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Qualified Life Actuary (FIA / FFA, or equivalent)
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Strong life insurance reporting experience, ideally across IFRS / IFRS 17 and Solvency UK / Solvency II metrics
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Good knowledge of bulk annuities, individual annuities, PRT or similar retirement products
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Experience reviewing actuarial or finance reporting outputs and assessing results for reasonableness
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Experience managing or developing actuarial, finance or reporting teams
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Strong stakeholder management skills, with the confidence and gravitas to explain technical results clearly
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A continuous improvement mindset, with experience improving reporting processes or controls
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Sound understanding of risk, governance and regulatory requirements in a UK financial services environment
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:
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The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
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Generous pension contribution
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Life assurance
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Healthcare Plan
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30 days holiday, plus public holidays
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Competitive family leave
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Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice
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There are many discounts we offer – both for our own products and at a range of high street stores and online
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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.
