Head of Propositions Strategy

Lloyds Banking Group; West of England; Hybrid; GBP 120,000 - 180,000; Full time

Job summary

Lloyds Banking Group is seeking a Head of Propositions Strategy to lead the simplification of legacy pensions, investments, and protection products. You will shape strategy, influence senior decisions and drive optimisation initiatives across the business.

This role focuses on reducing product complexity, enabling smoother operations, and delivering tangible benefits for customers and the organisation. A senior leadership presence and data-driven, collaborative approach are essential.

Qualifications

• At least 10 years of propositional or business experience working with legacy pensions, investment and protection products, with a preferred specialism in Final Salary Pensions.
• Solid appreciation of the regulatory environment and ability to grasp technical product details while seeing the bigger picture.
• Self-starter who can set the agenda and simplify complexity to achieve outcomes.
• Ability to operate within resource constraints and budget/operational limits.
• Proven capability to collaborate and lead across organisational boundaries and influence senior stakeholders.

Responsibilities

• Shape and drive proposition strategy for Lloyds Banking Group's pensions products.
• Identify, develop and deliver opportunities to optimise and reduce complexity in the business.
• Close non-core final salary pension products and overseas branch set-ups where appropriate.
• Develop propositions to support customer retention and engagement.
• Embed AI product repository capability into the wider business and promote an inclusive culture.

Skills

Strategic leadership

Stakeholder management

Regulatory awareness

Business analysis

Cross-functional collaboration

Data-informed decisions

Job description

• At least 10 years of propositional / business experience of working with legacy pensions, investment and protection products with a preferred specialism in Final Salary Pensions business.
• A sound appreciation of the overall regulatory environment with an ability to get to grips with technical product details, while also keeping in mind the bigger picture.
• A self-starter, who can set the agenda and drive forward without explicit instructions, guided by the overarching objective of simplifying the business.
• The ability to successfully operate within resource constraints, technological/ operating model challenges and limits on bandwidths and budgets.
• The ability to make continual progress in advancing the customer and business agendas, the ability to see things from a customer's perspective, making appropriate priority calls, navigating the organisation using good judgement to get things done. A track record of working collaboratively and leading through example across organisational boundaries.
• Comfortable articulating briefings and recommendations to senior stakeholders - both in written form and verbally. This includes the ability to simplify complexity, and to structure sound arguments based on data, logic, but also common sense.
  WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of the above office sites. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our Flexibility Works policy.

This is a rare opportunity to lead proposition strategy for one of the UK's largest legacy pension, investment and protection businesses. Our longstanding business is central to Scottish Widows' business, helping millions of customers and thousands of employers save, invest and prepare for their future and their retirement. We are looking for someone who has a passion for simplifying our business and delivering for customers, as well as the drive and leadership skills to make a tangible positive impact.

What You'll Do As Head of Propositions Strategy

you'll shape strategy, influence senior decision-making and identify, develop and deliver optimisation opportunities and to reduce the complexity in our business. Whether that is through reducing the number of products and funds in our business, using technology solutions to simplify our ways of working or by exiting non-core business lines.

The key outcomes we are looking to deliver, over the next year or so, through this role are:

• The successful closure of our non-core final salary pension products and one of our overseas branch set-ups
• Developing product and fund simplification opportunities
• Developing the proposition to support customer retention and engagement
• Embedding the new AI product repository capability into the wider business, 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.

Ready to make an impact?

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.