Actuarial Manager

Lloyds Bank plc; West of England; Hybrid; GBP 100,000 - 140,000; Full time

Job summary

Lloyds Banking Group is seeking an Actuarial Manager, Annuity Pricing to shape pricing for UK Individual Annuity products, including legacy Final Salary lines. The role involves collaboration with Retirement Platform, Finance and other actuarial teams to deliver pricing strategy and market positioning.

The successful candidate will lead pricing initiatives, guide junior actuaries, and influence pricing bases while working in a hybrid setup across Edinburgh or Bristol.

Qualifications

• Direct experience of pricing or valuing UK Final Salary benefits.
• Qualified actuary—for example, FIA or FFA—with in-depth knowledge of annuity products.
• Strong analytical skills, commercial judgement and attention to detail.
• The ability to prioritise and deliver high-quality work in a fast-paced environment.
• Strong Excel and financial-modelling skills.

Responsibilities

• Deliver commercial pricing for annuities and develop tailored pricing solutions in partnership with Retirement Platform and other teams.
• Develop and implement pricing amendments for Final Salary products with proposition and operations teams.
• Ensure pricing decisions have transparent audit trails and apply sound technical and financial principles.
• Prepare for and support the Annuities Pricing Committee and governance forums.
• Support and up-skill other actuaries and actuarial students within the team.

Skills

Pricing

Analytical skills

Communication

Stakeholder management

Organisation

Attention to detail

Education

FIA or FFA

Tools

Excel

Financial modelling

Job description

Job Title

Actuarial Manager, Annuity Pricing

Locations

Edinburgh or Bristol

Hours

Full-time

Working Pattern

Hybrid, with at least two days per week or 40% of your time based at one of the above office locations. We can support colleagues with disabilities through appropriate workplace adjustments, including adjustments to hybrid-working expectations in line with our Flexibility Works policy.

Flexible Working Options

Hybrid Working, Job Share

End Date

Tuesday 29 September 2026

Salary

Salary Range £0 - £0

About this opportunity

Following a strong period of growth, we’re looking for an experienced pricing actuary to help shape the next phase of our individual annuity business. This is an opportunity to join the team behind one of the UK’s largest individual annuity providers and make a visible contribution to our commercial performance and customer proposition. You’ll support the commercial pricing of our Individual Annuity products, including legacy Final Salary products. Working closely with the Retirement Platform, Finance and specialist actuarial teams, you’ll provide insight on pricing strategy, market positioning and the prioritisation of proposition developments.

Responsibilities

• Deliver commercial pricing for annuities and develop tailored pricing solutions, working closely with the Senior Manager and Retirement Platform colleagues across Pricing and Proposition.
• Develop and implement a streamlined approach to pricing amendments for selected Final Salary products, in partnership with proposition and operational teams.
• Ensure commercial pricing decisions are transparent, supported by a proportionate audit trail and based on the consistent application of sound technical and financial principles.
• Prepare for and support the Annuities Pricing Committee and other relevant governance forums, attending as required.
• Support and up-skill other actuaries and actuarial students, helping the team deliver its responsibilities effectively.
• Contribute to the development of pricing bases and methodologies, working closely with the Pricing Assumptions team.
• Communicate complex issues clearly and influence stakeholders at Senior Manager and Head of level.
• Build effective relationships across Finance, Risk and other functions, working collaboratively as part of a virtual team.
• Identify, manage and mitigate operational risks within the team’s activities.

Requirements

• Direct experience of pricing or valuing UK Final Salary benefits is strongly preferred, together with the credibility to guide others as a subject-matter expert.
• A qualified actuary—for example, FIA or FFA—with in-depth knowledge of annuity products gained at a provider or consultancy.
• Strong analytical skills, commercial judgement and attention to detail.
• The ability to prioritise and deliver high-quality work in a fast-paced environment.
• Strong organisational, stakeholder-management and communication skills.
• Strong Excel and financial-modelling skills.

We know that talented people develop their skills through different routes. If you can demonstrate relevant transferable experience—even if you do not meet every criterion, we encourage you to apply.

Our ambition

Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities, and we’re committed to creating an environment in which everyone can thrive, learn and develop. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.

We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neuro-divergent condition through the Disability Confident Scheme. We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.

Join the team behind one of the UK’s largest individual annuity businesses and play a central role in its continued success. At Lloyds Banking Group, we’re driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you’ll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you’ll have many opportunities to learn, grow and develop.

We keep your data safe. So, we’ll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We’ll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

We’re focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.