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 an experienced Actuary to join our Institutional Retirement Finance team as a Head of Regulatory Reporting.
This is a senior role within IR Finance, where you will have accountability for divisional regulatory reporting across our £80bn annuity portfolio, including Matching Adjustment and non-Matching Adjustment fund reporting.
You’ll play an important role in making sure that our reporting is clear, well controlled and delivered to a high standard. You’ll also work closely with teams across Finance, Actuarial, Risk, Internal Audit and Group, and help provide the insight and assurance needed to support key financial decisions.
This is a hybrid working opportunity, which will allow you to work flexibly between your home and the office, to help you find a work-life balance that works for you.
What you'll be doing:
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Owning end-to-end oversight of divisional regulatory reporting across Matching Adjustment and non-Matching Adjustment funds
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Producing clear Profit & Loss Attribution (PLA) reporting outputs, governance materials and reporting recommendations
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Recommending surplus available for extraction based on robust analysis and reporting
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Engaging with senior stakeholders including the Divisional CFO, Group Chief Actuary, Line 2 and Group Internal Audit
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Setting and monitoring SLAs with production teams, data providers and business partners
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Investigating unexplained balances, process issues and technical transactions
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Improving reporting processes, controls, documentation and governance across the end-to-end process
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Supporting system, process and methodology changes with Actuarial and Financial Change Delivery team
Who we're looking for:
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Qualified Actuary (FIA/FFA) or equivalent expertise and knowledge
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Strong experience in life insurance, ideally within annuities or bulk annuity products
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Comprehensive IFRS and Solvency II/Solvency UK reporting experience
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Strong understanding of Matching Adjustment reporting, PLA processes and regulatory requirements
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Excellent judgement and analytical skills, including the ability to review results for reasonableness
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Strong communication and influencing skills, with experience managing senior stakeholders
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Experience improving processes, controls or reporting governance would be helpful
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A collaborative, proactive approach and confidence working across a complex matrix 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 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.
