Actuarial Manager

Lloyds Banking Group; West of England; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Hybrid working

Job share

Job summary

Lloyds Banking Group seeks an Actuarial Manager, Annuity Pricing to lead commercial pricing for Individual Annuities, including legacy Final Salary products. You will work with Retirement Platform, Finance and actuarial teams to shape pricing strategy and prioritise propositions.

Based in Edinburgh or Bristol, this full-time hybrid role involves supporting governance forums, mentoring junior actuaries, and developing pricing methodologies within a collaborative virtual team.

Qualifications

• Direct experience of pricing or valuing UK Final Salary benefits is strongly preferred.
• Ability to guide others as a subject-matter expert in annuity pricing.
• Strong analytical skills, commercial judgement and attention to detail.
• Ability to prioritise and deliver high-quality work in a fast-paced environment.

Responsibilities

• Deliver commercial pricing for annuities and develop pricing solutions with Pricing and Proposition teams.
• Develop pricing amendments for Final Salary products in partnership with proposition and operations.
• Ensure pricing decisions have a clear audit trail and are based on sound principles.
• Prepare for the Annuities Pricing Committee and governance forums as required.
• Support and up-skill other actuaries and actuarial students.
• Contribute to pricing bases and methodologies with Pricing Assumptions team.
• Communicate complex issues clearly to Senior Manager and Head of level.
• Build relationships across Finance, Risk and other functions as part of a virtual team.
• Identify, manage and mitigate operational risks within the team.

Skills

Pricing experience

Analytical skills

Commercial judgement

Attention to detail

Stakeholder management

Excel modelling

Communication skills

Education

FIA or FFA

Tools

Excel

Financial modelling

Job description

End Date

Tuesday 29 September 2026

Salary Range

£0 - £0

Flexible Working Options

Hybrid Working, Job Share

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.

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.

Day to day, you will

• 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.

What we’re looking for

• 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.

This is a place for you

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 neurodivergent 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.